Refinance A Car Loan

Posts Tagged ‘Personal’

Car Loans

Equinox Side View

On loan from GM for the BlogHer Carpool

PERSONAL CAR LOANS UK

Article by Steve c clark

Car Loans question by candy: is it good for credit to have two car loans.?
I have a car loan and want to get another loan. I also want to refinance my house next year, would it be a good thing for my credit to get a second car loan before refinancing?

Car Loans best answer:

Answer by Judy
Absolutely not.
The amount of your debts will directly reduce the amount of mortgage payment the bank will allow you to have.
If anything pay off your first car loan (if you’ve had it for more than 6 months). Paid off loans are best for credit worthiness.

I have bought 4 homes. I have always made sure I had no outstanding debt. I have even made my credit card balances 0. I received top score and best rate advertised. The mtg people said they had never seen anything better.

You do not need to pay interest to have top credit. All you need is one or 2 credit cards and pay them in full each month. It’s 100% myth that you need to make loans to have top notch credit scores.
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Car Loans

2010 Chevy Equinox

On loan from GM for the BlogHer Carpool

PERSONAL CAR LOANS: NOW EVERYONE CAN OWN A CAR

Article by Steve c clark

Car Loans question by sillycat: How many of you refinance your car loans?
Is it a good idea? I have a pretty decent interest rate on my car. However, it could be a little cheaper.

Car Loans best answer:

Answer by amphitryon
never. if you must borrow, pay off as fast as you can. a car is generally a depreciating asset.