I am curious as to how a refi is reported to the credit bureaus.
I was financed with bi-monthly payments of 9 and an intrest rate of 29%. I was told that if I focus on making these payments on time, it can actually improve my credit score. Then if I can save, say, another ,000 to put down later and then refi, that could also change the high intrest rate and improve my score even more?
My credit is horrible… I’m working on fixing that now. Buying a clunker is not an option. Seeking answers from financial professionals.
I am curious as to how a refi is reported to the credit bureaus.
hello, i have a question here. if two people are listed on the loan and the title of the auto loan, can one refinance the car or take the car w/o the other persons approval if two people are legally the owners? what if one is the co-signer?
this is what happened. we switched the names around on the loan so that i could get a better rate, therefore making me the co-signer. i will be making the payments on the car. he keeps telling me that he can take the car and refi or keep the car because he can make the payments on it. but both of our names are on the title and the loan but me as the co-signer on the loan. now hes threatening to refinance the loan and take the car back from me and i wanted to know if this was legal. where can i get some free legal advice incase he tries to get the car?
i guess i should add that nothing is past due. i make all the payments. the insurance is in my name which i dont think carries any weight. i think he’s just dangling it over my head that he could take it anytime for any reason
My gut answer to this is no. I tend to think that a refi on my home mortgage for 30 years to consolidate a 4 -5 year auto loan only extends my payments and in another 5 years or so I will have to get another auto. Would a 2nd mtg or line of credit for the auto loan be wiser?
