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Posted in Auto Loans
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Ugg123

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How can I refinance my auto loan when my income ratio is to low
I'm paying almost $640. I had the same $ 987.disability income in February as I do now. Three Leander's are saying my income is to low to refinance. What can I do? This is crazy. Help!

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There are two ways of getting that payment to where you can deal with it.

Talk to the current lender, and be prepared to bring proof of your situation.  Maybe the current lender will extend financing in order to lower payments. Sometimes they do this as they know it less costly than having to take the car.

If that does not work then sell the car for the amount you have on the loan (if you can) ASAP. With your stating your low income is only from disabilty you really can not afford that type of payment, and there will not be another lender out there for you.  If you do not sell it then most likely it will really start to hit your credit scores with late payments and possibly a repo.

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