How To Refinance

Question: How to refinance my car?

(Posted by: kb254 on 2008-04-06 19:13:15)

Im a student, with a part time job and other miscellanious things that i do to make money. anyways, i was able to buy a car in my name at 14 % and now i want to refinance. ive done a couple of applications and they both say that i need to make more than $1500/ month in order to apply. if this is true, how did the dealer give me a car and what options do i have to refinance. i bought my car a year ago and i don't make as much money now because i'm a student. i also live at home, so i don't have a mortgage. I am able to make my monthly payments though.

Posted by: wisegirl74 on 2008-04-06, 19:18:31

If you can go to a small local bank or credit union they will take a higher risk than a big bank. You just have to proceed the same as you did with the initial car loan, the car must be in really good condition, because they will appraise it to see if it is worth the refinance.