Google Answers Logo
View Question
 
Q: Car loan refinance - under $7500 ( No Answer,   6 Comments )
Question  
Subject: Car loan refinance - under $7500
Category: Business and Money > Finance
Asked by: esarkissian-ga
List Price: $7.25
Posted: 08 Jul 2004 20:27 PDT
Expires: 07 Aug 2004 20:27 PDT
Question ID: 371659
Hello,

Anyone know where I can refinance my car loan of $6700?  I have 2
years left of my 5 year loan, but I'm tired of paying $350/month.  I'm
basically just trying to lower my payments to $150 or so, I don't care
if it tacks on a few more years...maybe by then I can pay it off in 1
lump sum.

Here's the problem though: my current lender won't give loans under
$7500, and they say that's pretty much industry-wide.

No shady places please, and no E-loan.  Thanks.

Ed
Answer  
There is no answer at this time.

Comments  
Subject: Re: Car loan refinance - under $7500
From: cmiller-ga on 09 Jul 2004 04:19 PDT
 
I ran into the same problem two years ago.  I couldn't refi one of my
cars. ( I only owed $5500) I could on the other one. While you
mentioned no e-loans, I did get mine from www.peoplefirst.com (now
Capital One Auto Finance); and I reduced my seven year loan to five,
and cut my interest from 7.5%  to 5%. A significant savings!

One suggestion, become a credit union member, I have had great success
with them in the past, doing the same thing.  Good Luck.
Subject: Re: Car loan refinance - under $7500
From: smudgy-ga on 09 Jul 2004 06:49 PDT
 
I'll concur with cmiller about credit unions. I had a car loan, 4
years, only $7500 to begin with, through my credit union. In about a
year, when rates dropped again, I looked into refinancing (at that
point my loan was only $6000 or so) and I had no problems with it;
refinanced to a 3 year loan at a better rate and ended up saving about
$25 a month.

Credit unions are good in this regard because they are (as far as I
know) generally nonprofit. Thus they can offer better rates and fewer
fees. (I get free checks on my checking account and pay no fees
whatsoever unless I overdraft; and I have a relatively good percentage
rate to boot.)

Good luck,
smudgy.
Subject: Re: Car loan refinance - under $7500
From: esarkissian-ga on 09 Jul 2004 10:06 PDT
 
Thanks Cmiller/Smudgy,

I hope I don't have to post this as another question, but where do you
find a credit union and how do you join?  I've heard family members
say they joined so-and-so credit union through their employer, but I
have no such opportunity.

Also Cmiller, I meant E-loan the company, not e-loans in general.  :)

Thanks.  Ed
Subject: Re: Car loan refinance - under $7500
From: esarkissian-ga on 09 Jul 2004 10:20 PDT
 
Cmiller, I just checked peoplefirst.com (Capital One) and it says $7500 minimum.

Also, I guess I should mention I'm in California, although it wouldn't
matter in this case.

Ed
Subject: Re: Car loan refinance - under $7500
From: efn-ga on 09 Jul 2004 21:12 PDT
 
You can find credit unions in the yellow pages, but they generally
don't let just anyone open an account.  Here's a page on how to find
one you can use:

http://www.creditunion.coop/how_to_join.html
Subject: Re: Car loan refinance - under $7500
From: supportg-ga on 21 Jul 2004 00:10 PDT
 
Hello, 

 try with patelco.org. they let anybody join from a list of 1100
companies and "others" that are not on the list.all you have to do is
open a $5 saving account with them to become a member and a copy of
your paystub maybe.you might get approved for 4.2% to 5.2% auto loan
over the "phone".

Good Luck,
SupporG

Important Disclaimer: Answers and comments provided on Google Answers are general information, and are not intended to substitute for informed professional medical, psychiatric, psychological, tax, legal, investment, accounting, or other professional advice. Google does not endorse, and expressly disclaims liability for any product, manufacturer, distributor, service or service provider mentioned or any opinion expressed in answers or comments. Please read carefully the Google Answers Terms of Service.

If you feel that you have found inappropriate content, please let us know by emailing us at answers-support@google.com with the question ID listed above. Thank you.
Search Google Answers for
Google Answers  


Google Home - Answers FAQ - Terms of Service - Privacy Policy