Personal loan to pay off car loan? : r/personalfinance - Reddit

Just from my own personal experience of refinancing and trying to get personal loans. The average used car loan is at minimum 5% now, average is like 6.5%. I have between 785-805 …

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Personal Loan To Pay Off Car Loan? : R/personalfinance - Reddit

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Just from my own personal experience of refinancing and trying to get personal loans. The average used car loan is at minimum 5% now, average is like 6.5%. I have between 785-805 …

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What Do I Pay Off First My Personal Loan Or Car Loan?

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My personal loan is 20% interest rate and monthly payment of $140. have $2,700 left to pay. My car loan is 7% interest rate and is $480 a month. I...

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Thinking About Taking Out A Personal Loan To Pay Off My Car.

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I have about $7k left on my auto loan and a 6.94 interest rate. I pay $200 a month which really isn't terrible. I just want my car payed off, and I figure if I get a personal loan out for the …

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Can You Use A Personal Loan To Pay Off Your Car? - Fox Business

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Oct 16, 2024 · Many people turn to auto loans when buying a car. More than 85% of new-car purchases and nearly 37% of used-car purchases were financed with a loan in the second …

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Pay Off Loan Or Not | Personal Finance - Blind

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17 hours ago · Pay off Loan or Not. I have a $93k left on a 3.5% fixed 15 year loan. Payments are $780 a month. I also have $5k left on a car loan at 0.9% year and the payment is $500. I can …

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Is It Better To Pay Off A Personal Loan Or Build An Emergency Fund

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I have about $6k remaining on a personal loan that I took a while back, and have about $4k in a Wealthfront account. My question is - is it better... jump to content. my subreddits. edit …

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Is It Smart To Get A Personal Loan To Pay Off Debts? : R ... - Reddit

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I have $6,715 in credit card debt and $9,900 in car loan. I was thinking I could get a $15k personal loan and pay off credit cards and majority of my car loan and then have a centralized place to …

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Use Personal Loan To Pay Off Car's Negative Equity (funds, Taxes, …

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Aug 10, 2014 · So if your car loses even ~$1.5k of value per year, at the end of 2 years, you'll only have $1000 in equity (depending on interest rate on new loan), but you'll owe about …

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Is It Worth It To Pay Off My Car? : R/personalfinance - Reddit

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My personal advice is if you can you should pay it off, however, if you think dropping $6k isn't in your budget then continue paying the monthly amount. You can also treat any loan as a …

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Should I Pay Off Car Loan Or Put That Money Toward House? : R

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I have a car loan for $19K at 6.3% interest rate (my only debt). I'm also looking to buy a home soon and wondering if it's better to pay off that car loan, so I have $0 in debt. I have ~$80k in …

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FAQs about Personal loan to pay off car loan? : r/personalfinance - Reddit Coupon?

Can a personal loan pay off a car loan?

Using a personal loan to pay off a car loan is best if you have excellent credit and can qualify for low annual percentage rates (APRs). This is a measure of how much a loan will end up costing you, including the interest and fees. An excellent credit score is considered to be at least 740 for FICO and 750 for VantageScore. ...

Should I get a personal loan or a car loan?

If you're looking for a loan with a lower interest rate and don't have the best credit score, an auto loan is a great choice. If, however, you're looking for a loan you can use for purposes beyond purchasing a car, a personal loan is a good option since you can use that money toward any number of expenses. ...

What is the difference between a personal loan & auto loan?

Rates without AutoPay are 0.50% points higher. Excellent credit required for lowest rate. Rates vary by loan purpose. Terms apply. Another thing to consider: Personal loans typically have repayment terms of one to seven years, while auto loans tend to have repayment periods of two to seven years. ...

What if my auto loan rate is higher than a personal loan?

If your auto loan rate is higher than the rate you can receive on a personal loan, it could be a smart idea. An unsecured personal loan won’t require that you use your car as collateral. This way, if you’re unable to repay your loan, you won’t lose your vehicle (though your credit score will take a significant hit). ...

How does a car loan work?

If your loan application is approved, you’ll sign the contract and wait to receive your personal loan funds, typically by direct deposit. With cash in hand, you can use the funds to pay off your car loan. Finally, your lender will send you the title to your car and you can get it transferred into your name. ...

Is it possible to pay off a personal loan?

It simply depends on the type of loan. Typically, with a "personal loan" from a bank, yes, you can do precisely this. I have indeed done this a couple times for various reasons and repaid the whole thing after just days, and paid only a trivial amount of interest on the whole affair (like "a dollar" or such). So yup, no problem. ...