Can you get a loan to pay off a auto-loan?

I bought a car but the interest rate on financining the car is high, and in the long run i will be paying so much for the car than I think its worth.(its a honda accord) Can I take out a loan with lower rates and pay off the auto- loan and just pay off the personal loan with lower interest.

Can you get a loan to pay off a auto-loan?
Auto finance is what I do for a living and if you are paying a high interest rate on your car loan now most likely your credit is not the best.





Also, a good place to check is...





http://www.knowledged.info/go.php?link=a...





Good Luck.
Reply:Yes and No. You can not get a second loan to pay off the first loan. Most people that get high interest rate loans have bad credit (myself included on my last car). What you can do is, after paying on your current loan ON TIME every month for a year minimum, ask the finance company to refinance to a lower interest rate. You may get 5% lower, maybe. Then pay another year and ask again.





When the amount you owe on the vehicle (payoff amount) is lower than the value of the vehicle, you can then attempt to get a new loan from your bank at an even lower rate. If they go for that, your bank will most likely make the arrangements for the payoff and the lien holder on your vehicle will now be the new bank.
Reply:Banks do not lend to individual without collateral. In auto loans, the car is the collateral. Unless you have other collateral like a house, you may borrow against the equity of your house such as home equity loan, the rate is better than auto loans.





Interest rate has come down in recent months. You might consider refinancing your auto loan.
Reply:If you are thinking about getting a loan, then you should know about the basics before you get started. If you understand the basic dos and don’ts of loans, then you will be better equipped to find the best loan for your needs. Whatever type of loan you are applying for, you should follow these basic rules to help you find the best deal when searching for a loan, it pays to do your research. Look for as many suitable lenders as you can, so that you can find the very best deal. There are many online pages that allow you to compare loan rates from a variety of lenders. As well as looking online, check out your high street banks and mortgage lenders for deals too. You may find the loan that you need here,





http://www.worldbestloans.com/





If possible, try and avoid taking out secured loans. If the amount you need to borrow is small or you have good enough credit to borrow without collateral, then do so. Although unsecured loans have higher rates, they are less risky because your home will not be at risk if you cannot make the payments.Try and take a loan out over the shortest period you can afford. Taking loans out over 10 years or more can be risky, and you cannot be sure what your financial situation will be at that time.
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Reply:If you can find a bank that will give you a better interest rate, they will pay your note, and start a new one. It's smart, it will save you a lot of moeny.
Reply:wreak the car to get money for the payment