can I consolidate car loans?
Date: Sat, 01/22/2005 - 06:53
sorry
Sorry ManuelLuna, you can't consolidate car loans as it is a secured loan. In other words secured loan is a loan which, upon default, has a piece of collateral which can be repossessed by the creditor in order to reimburse or compensate the amount.
Vikas
Auto Loans
I just have one question. I'm a 22 year old college student in my last year and I'm trying to get a car loan. I don't have any student loans but I have had medical bills go into collections--but they are now paid in full. I have one credit card that I pay in full every month, but I never max it out. My credit score is very low--in the mid to low 500's. I am able to pay to too 210.00 a month for a car note but Where could I go to get an auto loan without having a co-signer?? Please help. :(
It can be improved
Hi csmith,
Welcome to the forums,
Quote:
My credit score is very low--in the mid to low 500's. |
Is your credit report the latest one, if you are regular in your payments (at least for last few months), I am sure it will improve your credit score.
Quote:
I don't have any student loans but I have had medical bills go into collections--but they are now paid in full. |
What does your status say, "paid in full" or "settled???? If it's "settled", it is harming your credit score, always try to make it "paid in full" or "paid as agreed" or "paid".
Quote:
I am able to pay to too 210.00 a month for a car note but Where could I go to get an auto loan without having a co-signer?? Please help. |
Auto Loans are secured loans and easy to get due to an attachment as security. I am not sure whether you will get an auto loan without a co-signer (try to improve your score). I will forward your queries to our department for more information on auto loans.
Thanks for visiting us, keep posting and always try to keep your credit score high and it is quite simple if you know how to negotiate at different scenarios.
Regards
Vikas
RE:
Dear csmith,
Welcome to the debt consolidation care forum.
Remember, credit score is a very important financial aspect in your credit report. Having a good and respectable credit score is always advantageous for the present financial standing and also when considered in the long run. It is highly necessary to pay your bills regularly in order to have a good credit score. It is very good that you don't make a wrong utilization of your credit card. Keep up the good habit.
The ideal status in your credit report should be "Charged-off- Paid as Agreed" or "Paid as Agreed". Make sure to have a respectable account status in your credit report. This will help you to get a lucrative loan.
As far as the auto loan without a co-signer is concerned, your first step should be to better your credit score. I'll let you know in details after I consult with the other financial experts of my department.
We would appreciate your active participation in the forum and expect that you share your knowledge and insights with other members of the forum.
Regards,
Jason
