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.
Can you get a loan to pay off a auto-loan?
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.
Can you get a loan to pay off a auto-loan?
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.
Can you get a loan to pay off a auto-loan?
Of course, its called a refinance.
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