Bank loan.....help?
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okay i bought a car a year ago and the paymnt. is too hight , so i was thinking. can i get a loan from another bank and pay off the car with that loan and hopefully i have a lower payment with the bank..but also i was thinking what if i give the bank five thousands dollars up front will that lower my payment with new loan...iam really trying to lower my car payment. and i can't do it with the currnt finance. company because they don't do that...can someone help with or give me advice on what i should do ....totall loan is 43 thousand i think or some where close to that ....thakssss
Bank loan.....help?I would consider re-financing if I were you. Shop around for low interest rates, usually best at credit unions, and re-finance for the current loan amount less the $5,000 you have at the moment. This will definitely save you a lot of money, and lower your payments.
Bank loan.....help?Well my first thought is...if you were buying a $43K car, clearly, you should have been able to afford it. If you can't afford it now, sell it. Or try refinancing the loan through another bank.
Bank loan.....help?You could check into refinancing. You would be borrowing less ( what you paid already plus the $5k) BUT also may not be able to extend the loan years because now the auto is "used".
Doesn't hurt to apply at some banks/credit unions and find out.
Bank loan.....help?Clearly, you bought too much car for your income. A refi will only help if you can get a significantly lower interest rate - which will depend on your credit and income.
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