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refinancing auto vs personal loan to pay off auto loan
I have an auto loan with an 27.11% intrest rate and $500 monthy payment for the next 58 months. I haven't found anyone who' refinance me, and every time I aooly for refinance my credit score owers from the inquiry I was at 640 and then went down to 580 from inquiries, and stil haven't been refinanced. I was wondering if it would be a better idea to just find a personal loan for the pay off (currently $15,510) at a lower intrest rate, or if this is even possible.

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Wow,,,,that is some steep interest for a car loan, my highest CC does not even go that high.  I am afraid that without a better credit score there may not be much you can do.  I would keep the loan for the next year, the Hard inquiries wont have such an effect then.  Try to get your score up with reducing Usage percent on CC's and get your score up a bit before trying anything more.  If they will not refi you, the odds of a personal loan, even with the car as collateral, will be very low and just reduce your score more for inquiries.

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I don’t know how the personal loan is going to work out and I’m guessing you are upside down on the loan you have. Auto loans are usually bear a lower interest rate than unsecured personal loans because they facilitate a transaction and the vehicle is collateral against at least a portion of the principle. Chances are that you won’t be approved for the unsecured loan you are seeking.   

I feel bad that you are stuck in this position and the only real advice is can give to you is probably not what you want to hear. You need to make more money and get that principle down! More hours where you work now or a part time job a few days a week. Hopefully the loan you have has no prepayment penalty and interest will only accrue on the actual amount you owe. Bust your hump a bit until you are no longer under water on the car and get the heck out of that agreement! Figure out how much you owe in relation to the value of the vehicle, pay off that difference and sell it.

In the future, if you are getting a rate as high as the one you did and you must finance a car, there are plenty of reliable used cars out there that you can buy in the 4-5K range.

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