How to Refinance a Car With Bad Credit | Save Money Tricks |


hey guys welcome back so today I’m
talking to you about how to refinance your car even if you have bad credit so
let’s get started so refinancing your car when you have bad credit seems like
a daunting task it seems like kind of a roundabout no successful way out of it
but it’s not impossible and I’m going to tell you how the first step is to check
your credit report and scores you really need to know what your credit history
report reflects and you also need to know what your credit score truly is go
through it all carefully make sure all the information is accurate if you find
any errors or issues you can work with the credit company to fix them so that
you’re not being tamed for those ultimately raising your credit score
will go a long way in helping you refinance your car next you’re gonna
want to shop around for the right lender so first of all don’t be discouraged if
one or two lenders initially deny your application to refinance things get
better I promise so there are some institutions that offer auto refinancing
even if you have no credit or even if you have bad credit
a simple search online will yield a bunch of results you can also talk to
your friends who may have been in the same position if you search specifically
for a bad credit lender you might get the options that you’re looking for
obviously they’re not going to be as nice as if you had excellent credit but
it’s a place to start you also want to make sure you take the time to negotiate
with your credit lender it’s not always necessary to move your loan check with
your current lender to see if they offer any sort of refinancing options they may
even offer you a loan modification sometimes lenders are open to offering
different options if you’re the type of customer who consistently paid on time
and who has been loyal so sometimes they’ll give you a loan amount or
they’ll help you out just to save your business so you’re gonna be rewarded for
being a good customer and for being loyal to help your case you can argue
that you’re a lower risk borrower making those payments on time can go a long way
in helping you out if you’re ever in of trouble so just make sure that you’re
doing that and you’re paying attention if you get into a situation where you
are needing to refinance the lender will probably reward you just because you’ve
been a lower risk person to work with all right and finally my last bit of
advice do not wait to refinance many many individuals will take their time
and wait too long and then they end up not being able to pay off their auto
loan before they decide to refinance this leads to late or missed payments
and that can obviously affect your credit score if you’re having a hard
time paying off your loan act immediately you’ll be so grateful that
you did and then your credit score won’t be affected and since so many big
purchases and so many things rely on having good credit you definitely don’t
want that to happen alright everybody well I hope this
cleared up any of the questions that you have regarding refinancing your car with
bad credit if you liked this video and you want more make sure you subscribe
and if you have any other tips for people who are working on the same thing
make sure you leave a comment down below and had to save money tricks comm for
more information on how you can make the most out of your money and save some
money along the way alright everybody will I’ll see you next time i’m devin
howard

Paul Whisler

3 Comments

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  2. Actually, most banks do not usually refinance their own auto loans. This is misinformation.

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