Can i refinance my car loan for a lower monthly payment?
I need a lower monthly payment on my 2006 toyota corolla i bought new from the dealer. can i refinance the loan to do this? how can i go about it?i already have a home equity loan for something else. the car loan is through a credit union. i am maxed out on lines of credit.i already used my home equity line of credit for something else, so i cannot use it for that. i still owe $14,500, there is not equity left to pay that!
Answer
I did it with my car loan. i went to a lender that i knew did car loans and they pulled up the value of my car using kelly blue book and then they told me sure!! they gave me a lower rate and a lower payment. although, i did have to do some shopping for the right payment it was all worth it in the end :)
