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Loans for a Tacoma

Discussion in 'Off-Topic Discussion' started by nitrus5, Jan 5, 2009.

  1. Jan 5, 2009 at 9:21 AM
    #1
    nitrus5

    nitrus5 [OP] Well-Known Member

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    i know this question isn't as cool as everything else on here. I am addicted to this website. I own an 05 tacoma, and in order to get it before someone else did i was stupid and took a really high interest rate to get the loan. The bank won't let me refinance so what should i do? I don't need to make the payments lower, i am just made at myself for paying 14% interest on it. My girl has a tacoma that's how i fell in love with them and when i finally found the ONE for me i couldn't resist.
    any help is appreciated! thanks
     
  2. Jan 5, 2009 at 9:25 AM
    #2
    roxspin72

    roxspin72 Enjoying my addiction

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    Try to find someone that can hook you up with a credit union. IMO they give awesome interest rates. I got mediocre credit, and I qualified for 6.4%. Beats what I was getting from banks back in the days, 10-12.5%.

    Good luck.
     
  3. Jan 5, 2009 at 9:29 AM
    #3
    coppert

    coppert Mall Krawler

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    Credit Unions are the ONLY way to go!
     
  4. Jan 5, 2009 at 9:34 AM
    #4
    lsocoee

    lsocoee My hair is all natural Moderator

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    try to get someone to cosign on another loan.
     
  5. Jan 5, 2009 at 9:37 AM
    #5
    Ticketdoctor

    Ticketdoctor Senior Lettuce Washer

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    I totally agree with the credit union idea. You might find that the price to finance a 2005 will be in the 8 to 10 percent range depending on your credit score.

    One thing to look out for is an early payment penalty on your current loan. I would double check that before you sign the paperwork.

    Another good place to check for refinancing is www.myfico.com. There are some good forums on refinancing under the loan portion of the site.

    Good luck....
     
  6. Jan 5, 2009 at 9:38 AM
    #6
    09tacoLI

    09tacoLI Well-Known Member

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    I did the same dumb thing when I bought my first s-10 21%. So nedless to say I needed to refinance. I waited 6mo until my credit was better then went to a diferent bank and basicly bought the truck for a second time. Try to find out what the payoff price is now which is if you pay the truck off in cash today then go to a bank and get a loan for that much to buy the truck then you pay bank 1 with bank 2s money at a better intrest rate. Now keep in mind im kind of an idiot when it comes to money so this could be the wrong idea but it worked for me.
     
  7. Jan 5, 2009 at 9:39 AM
    #7
    09tacoLI

    09tacoLI Well-Known Member

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    The 2 bank was ENT credit union they were great.
     
  8. Jan 5, 2009 at 9:41 AM
    #8
    moserjjx

    moserjjx Tacoma Newbie

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    do you own a home you could refinance to get some cash to help with the refi on the truck? why won't your bank let you refinance, credit issues or owe too much or?
     
  9. Jan 5, 2009 at 9:43 AM
    #9
    lsocoee

    lsocoee My hair is all natural Moderator

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    Good Point, if they screwed you with 14%, I wouldn't be surprised to see an early payment penalty in there too.
     
  10. Jan 5, 2009 at 9:46 AM
    #10
    nitrus5

    nitrus5 [OP] Well-Known Member

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    thanks everyone! i have decent credit just sucks because the last two vehicles i owned the bank i went through didn't report to any major creditors so according the books i don't have much history at all. and i'm going to turn in an application to buy a house today at lunch!! haha
     
  11. Jan 5, 2009 at 9:49 AM
    #11
    lsocoee

    lsocoee My hair is all natural Moderator

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    I hope you get a decent interest rate. I wouldn't settle for any more than 13.5%
     
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