When I bought my 91, the lowest interest rate I could receive was 14.4%. The age of the car apparently made getting the loan more challenging and risky. Ouch, I know! I figured I would just bite the bullet for a while and then try to refinance it. The loan principal was 33000 on a 5 year note. Right now my payment is $806, which seems high but then again look at the apr. I have only had the loan for 7 months, all payments have been on time. So I started looking at places like E-Loan, but they all seem to restrict refinancing to cars newer than 1996. Not sure if this matters, but I am making about 35,000 more per/year than I was at the time I applied for the loan. Currently 55,000 miles on the car. I don't own a house.
So does anyone know a place or person to point me towards? I would greatly appreciate any advice or past experiences. Thank you.
So does anyone know a place or person to point me towards? I would greatly appreciate any advice or past experiences. Thank you.