Can you take an auto loan out on a car that is financed by credit cards?

My credit card interest rate jumped beyond what auto loans finance at. IF the titles are with me can I take an auto loan on the cars and use that amount to pay off credit card debt that was incurred at a higher interest rate.

Can you take an auto loan out on a car that is financed by credit cards?
Sure, credit cards are unsecured debt.





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All the best to you.
Reply:If you have equity in your vehicles, then by all means, you may refinance them and use the proceeds to pay down your credit cards. A credit union will probably offer you the best terms.





Keep in mind that if you don't keep your payments on time, you could lose your cars.





Stop using your credit cards, or you will eventually find yourself in a deeper hole. Good luck!
Reply:Yes, cause the credit cards are not secured to the vehicle. As long as the title is only in your name, then you should be able to get a loan using your car as a collateral. Make sure you get an up to date blue book value.
Reply:Assuming you can qualify for a loan, I'm sure your local bank would be happy to take care of you. For an idea of what the bank will loan on your particular vehicles you can check out the kelly blue book site.
Reply:Angelica B, Try getting an online auto loan quote. http://www.americaschoicetoday.com/Auto-... The questionairre will give you results based on your credit and financial situation. It's free and you can get an answer in minutes.
Reply:You can do that.


Bank might require cards be closed when they pay them off.




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