Buy Here Pay Here Louisville, KY

If you are having difficulty paying all your bills on time with your current budget, there may be lenders than can help you even if you have damaged credit. If you are more than halfway through your current car loan, you may be able to apply for a refinance car loan bad credit. Automobile loan refinancing for people with bad credit works in much the same way as applying for a bad credit car loan. Much as you did with your current car loan, you should know your credit history as well as your FICO score. When comparing your current history and score with the history and score you had when you applied for your original car loan, if either one of has changed significantly since your last loan approval, it could affect your chances for a refinance loan. A higher current score and better credit history means that your chances of a refinance loan are good, while a significantly lower credit score or credit history could be a problem. It also goes without saying that you must be current on your present loan with a good payment history. If you have any late payments or if your current car loan is in default, obtaining a refinance car loan bad credit will be very difficult. Unlike your original loan, you can't apply for a refinance loan through a car dealer. Car dealers only finance vehicles that they own in their inventory and are not equipped to process a refinance loan. Here are your best sources for a bad credit car loan refinance:

1. Your credit union - Credit unions will usually have more latitude than other lenders when it comes to dealing with their members. Many of them are able to finance members with lower credit scores and their interest rates are generally lower than finance companies or banks.
2. Finance companies - Many finance companies offer refinance car loan bad credit loans. The downside to finance companies is that their interest rates can be high - as much as 29% in some states, so it's a good idea to check with your credit union before trying a finance company.
3. Your current lender - If you have paid well on your current loan, there's a chance your current lender might consider a refinance car loan bad credit with you, even if your credit score has dropped since you took out the loan.
4. Banks - Most banks do not serve bad credit car lease customers, but if you have a relationship with your local banker, you might want to see if a refinance car loan bad credit is a possibility.