Overhaulin'

I want to refinance my car loan but I have really bad credit any suggestion on where to get a loan?

I have a really high car note with an 18% interest rate I really want to refinance without a cosigner is it possible

Public Comments

1. Ain't gonna happen. Sell the car, come up with the difference if you're underwater, and then buy something realllllllly cheap and affordable so that you won't have to borrow money at 18%.
2. I would not refinance. Besides depending on how long you've had the loan, you probably have paid a considerable portion of Interest already. I would recommend paying approximately $50 more a month and the Interest will melt away, not to mention, you'll pay of your car quicker. You can also benefit from paying 1/2 your payment every two weeks.
3. Once you have a car from a loan and you take delivery from the dealer, you could have driven the car around the country 3 times with mileage that renders the car worthless. The banks will not refinance auto loans. You no longer have trusted collateral. You can't close the first loan with the same car now, even to open another one. A car is a consumer retail product, nothing like real estate. What happens is if the loan is settled you would get the money as if your selling your own car. The first contract has to be settled and the dealer already got payment. So then you have this asset to pay the bank and the repo finds the car in a junk yard. The only way is the use of a co-signer with better credit, unless your credit rate went up real high since the 18% loan. You could pay off a large amount, cutting the months of the loan and it's compound interest.
4. need a place to get a loan.don't worry its better for you to try for an online loan.i think that the below website will help you to find right solution.
5. DO NOT REFINANCE YOUR CAR IF YOU HAVE BAD CREDIT ! Bad credit means you will pay possibly thousands in extra money to pay off that car! Regardless if the option to pay less per month. Look at how much EXTRA you are paying for the same car..... I suggest you get your credit fixed first and then go and either refi or trade your car in for a new one (once your credit is better). BETTER CREDIT IS THE NEW MONEY !
6. Check out this website at www.newcreditrating.com then click on the links on left that will take you to sites who will refinance your loan or you can have them repair your credit
7. Try for a personal loan up to $25K with rates as low as 6% at http://www.prosper.com/join/loan/imxavierj - with your current loan at 6% you will save a bundle!!!
8. If you have a bad credit history still the loan market place is full of lenders who are ever willing to offer you a fresh loan. But you should be meeting some conditions laid down by the lenders. Loans for bad credit people are in fact easier to get then they were ever before, thanks mainly to cut-throat competition amongst the lenders. Lenders are giving loans to the bad credit people who have late payments, payment defaults, arrears, county court judgments or any credit problems. These loans are available for any purpose like home improvements, purchasing a new or used car of your choice, for wedding and holiday tour, debt consolidation or for paying child’s tuition fees. Every lender in approving loans surely likes to see if the bad credit borrower has sufficient capacity to repay the loan in timely manner. If the borrower earns well, has regular bank balance, has been an employee for some years and has a convincing loan repayment plan in place, then the lenders do not usually hesitate much. So ensure that you have adequate repaying capacity before applying for a loan. Also, you should first check your credit report for any errors. If your credit score is too low then you would be charged a very high rate of interest. So it is advisable to first pay off some easy debts to improved credit score and then you should apply for loan at better rates. http://loan--house.blogspot.com/2008/03/bad-credit-loans.html