Refinancing

[Anonymous]

So i have had an auto loan for about 11 months and the interest rate is 22.9% at those car lots..., yes i know crazy right, i am trying to refiance and was wondering what are my best options. The car is a 2004 and it has 140k miles, i know some places don't accept cars older 7 years and 100k miles. Any help you could provide would be awesome.

my scores:

EQ: 668

TU: 694

EX: 689

Thank you,

[Anonymous]

How much do you owe on the car if you don't mind me asking?

[Anonymous]

roughly 8.5k and when i got the car 11.5k

[Anonymous]

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@Anonymous wrote:

roughly 8.5k and when i got the car 11.5k

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Because of the year and mileage on the car, it will be hard to find refinancing for it.  The interest rate is soo high at 22% that you are probably better off getting maybe a personal loan at a decent rate to pay the car off completely....

[Anonymous]

Where would i be able to get a personal loan for that amount with my credit scores?

[Anonymous]

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@Anonymous wrote:

Where would i be able to get a personal loan for that amount with my credit scores?

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Prosper or Lending Club may be able to give you a personal loan amount with a bit lower APR%

You can always check with them, no HP is required to apply with either one of those 

[Anonymous]

I just tired them a few hours ago and not enough credit.

[Anonymous]

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@Anonymous wrote:

I just tired them a few hours ago and not enough credit.

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Your other option is to go the credit union route... It may be easier to get a loan through them than the peer to peer lending sites like Prosper and Lending Club.

[Anonymous]

my credit union will only give me a max loan of 1,700$.

Golden 1 

[Anonymous]

See if you qualify with Lending Tree for a lower rate. I assume your scores are higher now than when you got the vehicle. Sometimes it is better to just bite the bullet and trade the vehicle in for something else at a much lower APR.