@Anonymous wrote:
So my first ever intro to "credit" was my used car loan December 2013. A whopping 24.98% interest rate. First time buyer, no credit, awful terms obviously but I NEEDED a car. Anyways, 13 months later, I've built up my credit profile, scores are 690-710. I want to refinance this car badly but I'm not sure I can. It's a 2005 Chevy Uplander with 96k miles on it. I owe 7k on it still, 33 payments at 302 a month left. That interest rate is crazy, how should I go about refinancing? Can I even refinance? KBB puts my car at a value of 2.5k so I'm crazy upside down on this loan. Any help would be great. I'll provide any other information if needed, and no I am not currently a part of any CU, not yet anyway.
id talk to a credit union about a personal loan with offering to put up the car as colateral too but really they are basically just giving you an unsecure personal loan based on the value of the car and what you need.
you could also try lendingclub and prosper for a $9k personal loan also... the nice thing about those 2 is you can apply to check your rate without a HP and if your rate is under 18% I would be jumping at it! just make sure you apply for a 36 month term, you don't want to take this longer than you have to or longer than it is now!
