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OK, your credit stinks. However, you want a new car. So you go to the local car dealership and believe the salesman when he says... "Buy this car today at this high interest rate and we'll refinance you in 12 months at the lowest interest rate possible." Everyday car dealers repeat the "refinance in 12 months" lie to people with bad credit to push them to buy new automobiles at ridiculously high interest rates. You may have financed an automobile through a high-interest subprime lender knowing that it's a bad idea. But you might have thought it was your only option at the time and you justified it by telling yourself you could refinance to a lower interest rate down the road. Unfortunately, when you try to refinance the car later on, you find out the salesman lied to you. Best Way for People with Bad Credit to Refinance The first thing you need to find out is whether or not you even qualify to refinance, or if you should just sell or trade-in your car. Begin with how much your car is worth. The biggest error most people make when establishing the actual value of their car is they base their research on the private party value. You need the trade-in or dealer retail value instead. Here's how to get the value of your car...
Article Source: http://www.content.onlypunjab.com
About Author: Dana Facemyer is an attorney for the law firm Facemyer & Associates. Dana specializes in disputing the accuracy of your credit reports which can result in improved credit scores.
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