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Posted in Auto Loans
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Question By
rnwvol

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I paid cash for my car. Can I finance it to get cash to pay off high interest credit cards.

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Top Contributor
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Its hard to get a regular

bank loan with a used vehicle as colateral.  Generally because they depreciate so quickly. 

Avoid "Title Loans" those are a scam that will cost you as much as the high interest credit you have now.  Depending on your score, you may be able to qualify for a personal loan, there are now many on-line companies offering these at fairly decent rates if your score is above 640.  

Good luck

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