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Cata
Cata asked in Business & FinanceCredit · 1 decade ago

Can you get a loan to pay off a auto-loan?

I bought a car but the interest rate on financining the car is high, and in the long run i will be paying so much for the car than I think its worth.(its a honda accord) Can I take out a loan with lower rates and pay off the auto- loan and just pay off the personal loan with lower interest.

6 Answers

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  • SPIFIMAN1
    Lv 7
    1 decade ago
    Favorite Answer

    Auto finance is what I do for a living and if you are paying a high interest rate on your car loan now most likely your credit is not the best.

    This will make it very hard to get a personal loan at a lower rate.

    Your best bet will be to make your payments for 12-18 months establish a good pay history and then refinance.

    Source(s): Finance Manager for over 7-years.
  • Ralph
    5 years ago

    1

    Source(s): Easy Car Loan Approval - http://carloan.trustdd.com/?rjVo
  • Brian A
    Lv 7
    1 decade ago

    You should try to refinance the auto loan. It is highly unlikely that you will be able to get an unsecured personal loan with a lower rate than an auto loan.

  • Anonymous
    7 years ago

    Here you can get the best rates on your area: LOANSVAULT.NET

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  • Teresaanne
    6 years ago

    Get free rates

    Source(s): http://credit-compare.net/bestfinanceandcreditsolu...
  • rico3151
    Lv 6
    1 decade ago

    Of course, its called a refinance.

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