Hey guys i was looking into refinancing my car. Only reason at the time i purchased it i had debt on my credit cards and i carried quite abit over from my rsx so my interest rate went sky high and yes i was stupid and went ahead and got it but what do you think my odds of getting my car refinanced is? ALso maybe some recommendations where i could get that done at? Its an 05 WW with the ssl with 2600 miles on it. ANy info would be great!

THanks alot

Matt

 

You should be good depending on your credit. Also, go to a credit union before anywhere else. they usually have the best rates. i used to sell cars and if it was a used car we always used credit unions to finance customers

 

Do you have to be a member of a credit union to do business there? I know i went o my bank where they bank and they told me that they would only loan 24000 on my car which was completely stupid considering the car was new and sells for 33 grand!!!!! And all the deals ive made didnt know you had to come up with an extra 11k to put down!

 

owing debt on credit cards has nothing to do with financing a car, I owed over 10,000 and I still qualified for the 0% financing.....

 

In my experience it is difficult to get a car REfinanced if you owe more than high blue book on the vehicle. I tried doing it in the past, but was told this by more than one finance company. So if you are significantly upside down in your loan, you may have to pound the pavement to find a bank willing to assume your loan. If you want to reduce a ruinous interest rate (and who wouldn't?), you may have to come up with some cash at refinance, just to lessen the disparity between what you owe and what the car is worth. Good luck.

 

Not likely.

 

yea look for credit unions, i got mine through Alliant credit union for 4.3 @ 60 montns. some require membership but mine only required me to live or work in that county

 

It depends on things like your debt to income ratio.

Do you happen to know what your credit score is? If it isn't all that great, try a Household/Beneficial branch. If you have a descnet score but not great, they can get you a descent rate. Now, if your score is bad, then anyones rate is going to be bad.

 

give me a call next week i work for wachovia and would be glad to let you know what kind of rate you qualify for if it does not work with me i could def recommend someone else my office number is 5407776505 name is juan ramirez im a financial specialist so no worries ,im on vacation right now thats why i said next week .

 

credit cards have nothing to do with your credit it only hurts your debt to income ratio ,too much debt and not enough dough but you need to find out why they charged a high interest rate in the first place or even talk to your whom you have your current loan and tell them your elsewhere to get a lower rate can they match i would try that first ,cause finance companies will stick you till you cant breathe anymore so try that and keep me updated . guys i also do mortages and anything from investments to any type of loans .