I have a personal loan and an auto loan, can I combine them into one?

I have an older car as collateral for the personal loan with about $3000 left on it, and my current auto loan for $14,000 at a 13% rate. Can I combine them into one payment?

I have a personal loan and an auto loan, can I combine them into one?
You might be able to move the balances over to a credit card or two. 13% is not a good rate for an auto loan, and some credit cards will give you 0%...but there is a catch. The catch with credit cards is that they can jack the rate later, up over 30%





IMO, a better choice is to skimp and save and pay off the $3000 car then start paying off the $14,000. If you do not have room in your budget to do that I suggest selling the more expensive car.
Reply:I think these are some useful sites: http://autoloanguide.automobil... Report Abuse

Reply:You can merge them on to a credit card, that has a low apr, keep bouncing them each year tokeep getting the low rates, as the low intro rates don't stay forever... Stay on top of it..though... Good luck
Reply:I think you cannot combine that two
Reply:It is possible to combine an automobile loan with a $3000.00 personal loan as long as the vehicle is valued at the full requesting amount. You see what will happen is you have to refinance your $14,000.00 vehicle and ask for $3000.00 cash to pay off the loan. Depending on when you originally purchased the auto your interest rate might go up or down. The lender will first approve you for the asking amount and then they will see what the blue book value of the vehicle is. It must be valued at least at the $17,000.00 you are asking as this is the lenders collateral. Also, depending in what state you reside in tt%26amp;l fees might be involved if needing to go with a different lender then you originally had. For example, in Texas the total fees to refinance your vehicle with a different lender and all parties on the title is $37.50. You only need to go with a different lender if the one you currently have doesn't do collateral loans.
Reply:credit union a good at helping people in your situation. i am betting you could get a 5 year loan for 17k.. if you have ok credit you rate would be like 8-9 percent too.

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