Refinancing My Fiancée's Car

[rios138]

I have crappy credit and just refinanced my car through capital one auto finance. I think my score was about a 577 FICO when I applied. 

My rate dropped from 15.99% to 10.26%.  I had 60 months left and about $17500 ($430/mo) approximately left on the loan and refianced it for 48 months (@$450/mo) and the payment only went up $20 .  I think I will end up saving about $4k.

[maiden_girl]

I agree with the other posters...don't sign on to his debt especially when he is not officially your spouse then you might not get married...got forbid and you'll be signed onto the duration of the loan. Not a good idea.

[dabrian]

Please don't cosign on this or anything else ever.

[webhopper]

My husband had a crappy 22% rate with gm financial. While I wasn't willing to cosign the refinancing of the debt. I was willing to pay the total amount off for him. We've been married for a year and even now I am comfortable with the decision, because I was willing and able to pay off his car because I knew beyond a shadow of a doubt that he wasn't marrying me for money and that it was all going to work out.

He never asked for me to do this, but it was the right thing to do in my situation.