well my tl is under my dad's name and i'm going to transfer it under my name. But It has $24,000 loan on it and its financed thru American Honda. I have no record, except 2 credit cards which I've been paying in full and on time. Who do I go thru to get a loan? My dad is willing to co-sign.


thanx

 

www.lendingtree.com, or go talk to a local credit union?

 

hey thanx, and maybe I should talk to my bank?

 

Credit unions will usually have better interest rates than regular banks for loans. You should shop around to see who gives you the better rate. For auto loans, the rate itself doesn't depend on your credit score, but whether you're approved or not does.

Most banks and Credit Unions will list their rates on their websites, btw.

2600!

 

I wont recommend re-financing unless its absolutely necessary, due to the higher interest rates. If you are already a cosigner on the TL, just forget about refinance and continue paying on time. If not go with the suggestion offered by RootBeer.

Good Luck.

 

Just keep paying off the existing loan. You probably won't get a lower interest rate than what is on it. Once you have it paid off, transfer the title for a sale of $1. Remember, if you transfer a title (buy it from your dad), you need to pay sales tax on the sale. So you sure as hell don't want to write on the title that you gave him $24,000 or the DMV is gonna want a big chunk of $ from you.

 

I am in a similar situation. I just bought a Jeep through a friends and family deal with Chrysler Financial. I had to finance through them to get $1000 cash back. My current rate is about 9.1%. I'm thinking I want to refinance about 10K after the original terms of the Chrysler loan are met (three payments) I mean that after I make my third payment, I will only owe 10K on the Jeep. I must make at least three payments on this loan before I pay it off. Should I keep the loan at 9.1% and pay it off asap or refinace? Any suggestions?

 

I think you should have bitch slapped the finance guy at the dealer for giving you that rate. Seriously, don't they always have some 0% deal going there?

 

Sounds like it was used. No way are you getting zero percent on a used vehicle.

 

Jeep was brand new. How do you think Chrysler affords to give $1000 cash back?

I could of gotten a better rate somewhere else, but I elected to take the $1000 upfront and refinance as soon as the terms of the loan were met. I will still pay abit in interest, but only around $200, so I end up saving $800 up front as to financing with someone else from the start.