Auto refinancing help.?
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I am having a problem refinancing my car. I am behind on payments with my current loan. I need to find a way to make my payments less. But being by being behind seems to put a damper on everything. It's hard to get approved somewhere while being behind on this current loan. I don't know if I'll ever get caught up on it. I'ts crazy that people who have filed bankruptcy, can get help easier than I can. Does anybody know of any place that would refinance me with the predicament I'm having? I'm a hard working individual just trying not to get reposessed. They are making me look like a criminal and I'm not. If I could refinance it would be so much easier.
Auto refinancing help.?Here is the problem.
If you are behind on your current payment, a "new" lender is not going to want to be in a position to "bail out" another lender who already has a delinquent loan on their hands. If you also owe more on the car than it's worth (which is pretty likely in today's market), it makes the matter even worse. What you'd be asking a lender to do is to extend the amount of time to pay back a depreciating asset (not a good financial move for the lender).
That all said .............
Depending on how far you're behind with your payments - this MIGHT be too late - but it NEEDS to be tried.
1. If your current lender is local or has a local office - go and sit down to talk to them one-on-one (always best). If they do not, get them on the phone.
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