Overhaulin'

My friend is trying to get a car loan but the interest rate is 21%. He had a past due student loan that he?

paid off. What can he do to get a better car rate? What can he do to get his student loan default off his credit report?

Public Comments

1. It should really save you some money to just get an auto loan quote online to check out what the going rates are. You might be really suprised. Also if your credit is not good, a lot of online loaners are more willing to work with you. What I usually tell friends is that an online quote at http://auto.lowratetoday.com is worthwhile.
2. Pay the defaulted bill... And then all you can do is take the loan and then afterwards look around for someone to refinance him at a lower rate.
3. There are always two sides to a coin. Choosing between using a banker or a mortgage broker to help secure your loan is strictly a personal preference. Read on, do your homework, then go with your gut. A bank usually, although not always, has its own money to lend and makes a profit by collecting loan fees and the interest the customer pays on the loan, called "servicing fees." No matter what people tell you, your best deal will usually be found at a bank. A broker "buys" loans from a variety of mortgage lenders at a wholesale cost and sells the loans to their customers-you and me-receiving a commission on the sale. In the mortgage broker world, you usually pay a higher fee/interest rate for getting your loan accepted, although this is not always the case. Unfortunately, you still need to be careful. Desperate people can get taken because they'll do anything to get a loan. If you think you're being overcharged, shop around. Most brokers have access to the same products (meaning they can usually find and buy the same loans as other brokers), so call around and compare interest rates and fees, especially if you're not an "A" loan. Don't believe the loan officer who tells you that you won't get a loan anywhere else. By shopping around, you usually can discover who's trying to gouge you. Once you find the interest rate and fees you can live with, fill out an application at the broker's office, and lock the terms of the loan.
4. He can Triad or Roadloans.com for a different rate. He should get a copy of his credit report and, if the loan is still showing up, he needs to contact the institution that gave him the loan to have them remove it, and copy the credit reporting company as well. Also, a good site is... http://www.surveyland.org/jump.php?link=auto Good luck
5. i am , anais willy am from venezuela i saw your profile in .i decide to referred anybody who is dire in need of loan to this God fearing man because i have been SCAMMED twice by this fake lenders.when i lose my job this man that gave me{ $120,000] .you can contact him via E-mail adam_mohammedloancompany@yahoo.com.sg tell him anais willy referred you to him who he gave a loan to.two weeks a go thanks,from anais willy.