Refinancing Auto Loan

Question: Refinance auto loan for bad credit question?

(Posted by: anthony on 2010-01-13 11:24:08)

My brother is using my credit to buy a car. He's paying about 560 a month. As a result, I am not able to qualify for a full house loan. His auto payment is creating a high debt ratio for me. What can I do to get him out of my credit? Is there any company that will re- finance auto loan for bad credit and also transfer the credit to his name? Thank you for your answer.

Posted by: sarahsmile90 on 2010-01-15, 13:15:20

It depends on his credit and it also depends on how much his car is worth and what he owes on it. If it is worth less than what is due on the loan then refinance is out of the question. So he needs to find out what his pay off amount is and then he should check on kbb.com to find the value of car. Hopefully it is worth more than the amount due and he can try his bank or credit union for financing. Good luck.

Posted by: Jestina on 2010-01-17, 02:11:33

Recenlty my friend got Auto loan of 25000$ for 10 years on 3% which should be paid annually my friend doesnt have good credit his credit score is below 700 but still he got loan. I asked him how you got ? He told me while i was searching on internet for Auto loan with Bad credit he found a site which contains links for bad credit so i checked all of them one by one . go to Dixiloan.com Then Go to "Auto Loan " Note each link contain different interest rates and repayment period. Take Care Bye!