@Anonymous wrote:I'm not really sure.. I already have a loan on my car which I still owe about $3,194 and I had to co-sign for my mom to get a loan for her car since shes retired and showed no work... But now I need a personal loan to be able to get a apartment with my girlfriend I'm trying to find out about how much she is going to do and how much I need to come up with.. I know the secuirty is $1,495 and the broker fee is $1,495.. For people that have done this before how does that work?
Ugh broker fees, which city are you in?
If your credit score supports an unsecured loan, then yeah you can do this... but do your expenses drop after the initial fees otherwise sounds like a way to run out of cash if you can't come up with that offhand. What you might want to see about is seeing if there's a cash advance / balance transfer offer available on a credit card too, might wind up being cheaper doing it that way. Also a line of credit might be a reasonable option too, likewise around 10% give or take.
@Anonymous wrote:it's in NYC and i can't do a cash advance as my CL on my card is only $500 for the WF secured card.
Sorta figured that, not many places do brokers these days.
What's your credit score? If you're talking secured strata you might be looking at 35% or worse potentially for an unsecured loan. Is there any value in your car that you can do a cash out refinance on (likely your cheapest option)? Given any thought to asking family? Worst case go begging to a local credit union.
You can absolutely get a loan from somewhere, but the rate might be seriously suck depending on your scores.
@Anonymous wrote:I'm with my CU now which is how I got my loan for my car from I'm just not sure how it would be to ask for a personal loan? the other thing is to look for a place that does not have broker fees
Doesn't hurt to ask them. If you have assets on file with them and you've been good about repaying the auto loan over time, they might be willing to help out.