You can't get a Helco because you have a second on your house. The Helco would have to pay off the second and you have said your house already is under water so that is out. Besides your house payment should not be more then 1600.00 on your house with your income and it is already over that amount by around 300.00
Credit union will only refinance cars that are no older then 3 years old. They will do a purchase on a car up to 5 years but that is a new purchase not a refinance.
I would get a third credit card if you can that is giving out really good first time cheap money.
When you get approved then figure 70% no more of the new credit line and transfer up to
If you have not already done so, call the creditor and see if they will do anything to assist you. You had a really good rate so I suspect you have regularly made on time payments. Ask them to lower the rate back down to your promotional rate at the very least. Ask to speak to a supervisor if you cannot get assistance from the customer service representative. If you don't get anywhere this month, make your on-time, over minimum payment for a month or 2 and try again. Get very insistent after you make 6 on time payments. You may not get your promo rate back but it should be reasonable to expect them to lower it to your old regular purchase rate (although most of us are seeing that rate increase).
Do not go to a loan consolidator. They are the crooks you believe them to be and are right to think it is too good to be true. If you really want to try and negotiate the rate down and you fail yourself, you could contact Consumer Credit counseling services (CCCS) which I think is now also called MMI. These are non profit agencies who will assist you in evaluating your options, if appropriate offer you a plan and none of this should cost you a dime up front and only a nominal service fee a month (less than $50 I think). They will approach your creditors on your behalf. You will have to close the accounts though.
I took out a loan from my credit union using my car (at the time it was five years old).In my opinion it was the best thing I ever did. I love my credit union!
Thanks for the info. Good to know it's probably an option even with cars older than five years. Both hold their value so I hope you're right...(Honda Odyssey and Toyota RAV 4).
I plan to never use the high rate card again, simply out of principle of never wanting to give that bank a CENT I don't HAVE to. Grrrrr.
You can't get a Helco because you have a second on your house. The Helco would have to pay off the second and you have said your house already is under water so that is out. Besides your house payment should not be more then 1600.00 on your house with your income and it is already over that amount by around 300.00
Credit union will only refinance cars that are no older then 3 years old. They will do a purchase on a car up to 5 years but that is a new purchase not a refinance.
I would get a third credit card if you can that is giving out really good first time cheap money.
When you get approved then figure 70% no more of the new credit line and transfer up to
If you have not already done so, call the creditor and see if they will do anything to assist you. You had a really good rate so I suspect you have regularly made on time payments. Ask them to lower the rate back down to your promotional rate at the very least. Ask to speak to a supervisor if you cannot get assistance from the customer service representative. If you don't get anywhere this month, make your on-time, over minimum payment for a month or 2 and try again. Get very insistent after you make 6 on time payments. You may not get your promo rate back but it should be reasonable to expect them to lower it to your old regular purchase rate (although most of us are seeing that rate increase).
Do not go to a loan consolidator. They are the crooks you believe them to be and are right to think it is too good to be true. If you really want to try and negotiate the rate down and you fail yourself, you could contact Consumer Credit counseling services (CCCS) which I think is now also called MMI. These are non profit agencies who will assist you in evaluating your options, if appropriate offer you a plan and none of this should cost you a dime up front and only a nominal service fee a month (less than $50 I think). They will approach your creditors on your behalf. You will have to close the accounts though.
HTH!
Peg
hi,
I took out a loan from my credit union using my car (at the time it was five years old).In my opinion it was the best thing I ever did. I love my credit union!
Credit Unions DO finance older cars.
Norma
"Patience is the best remedy for every trouble"- Plautus
Thank you for confirming my suspicions about the consolidation people.
I think I will visit a CU next week. This sounds like a great solution, possibly.
Thanks for the info. Good to know it's probably an option even with cars older than five years. Both hold their value so I hope you're right...(Honda Odyssey and Toyota RAV 4).
I plan to never use the high rate card again, simply out of principle of never wanting to give that bank a CENT I don't HAVE to. Grrrrr.
I don't believe the mortgage is higher than it ought to be, even with the second included.