Comments on: When you refinance your auto loan, does the old finance company show your debt as paid in full?

By: Melisa R

Melisa R — Mon, 08 Feb 2010 12:02:03 +0000

When you refinance your vehicle, your upcoming finance company will have paid off the balance of your loan from your old creditor and assumed the loan according to the conditions you agreed to. ( ie…new interest rates, length of loan, etc. ) So you will show your previous account as being "paid off", and it will reflect so on your credit report.

Also, a good place to check is…

http://www.knowledged.info/go.php?link=auto

Hope that helps.

By: Gaytheist Buddha

Gaytheist Buddha — Mon, 08 Feb 2010 12:02:03 +0000

They should. If not, you contact each credit bureau to report the error. It might take 30 days to show on your credit report.

By: jlf

jlf — Mon, 08 Feb 2010 12:02:03 +0000

Yes. But the new loan also shows up.

By: claudette

claudette — Mon, 08 Feb 2010 12:02:03 +0000

i have ask the same question also, but i found out that they report that the account has been sold
or lost.

By: Bryon S

Bryon S — Mon, 08 Feb 2010 12:02:03 +0000

Its just that car loans have been hard to get approved these days. The websites places are good and I have heard the are more flexible.

Ive been told this site is good http://auto.deal4-you.com

By: Layne

Layne — Mon, 08 Feb 2010 12:02:03 +0000

http://loanrefinanceadvice.com/ has excellent information on how to apply for a refinance mortgage program, refinance rules and laws, and other helpful advice for anyone looking to refinance.

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Riche — Mon, 08 Feb 2010 12:02:03 +0000

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