Given your situation, your best bet would be to find someone as a co-signer that has good credit. That way you can refinance at a lower rate somehwere based on that persons good credit. Or you may have to trade in the current car and have someone with good credit buy a new car under their name and you will make the payments. This is not the best situation because you arent building your credit; however, after a year you could get a loan and "buy" the car from that person. That is a lot to ask of someone though, even a parent.

Keep in mind though that a lot of financial institutions will not just refinance a car. Many want to see some equity in the car (what the car is worth vs. what you owe).

I usually recommend credit unions but it sounds like due to the late payments, you cannot go through your own credit union. Are you able to join a different credit union? If your current credit union loans did not report as past due, then maybe another credit union will refinance you.

Keep in mind though that most banks and credit unions will request proof of income. So you may have to wait until you find a new job. The loan I received from Pentagon Federal Credit Union was approved only after I submitted two months of recent pay stubs-despite my nearly 800 Equifax score.

So, there is no real perfect answer for your question. The moral of the story may just be that this was a learning experience for you. That this is the cost of having bad credit. The good news is that the next time you buy a car you will get a much better rate.

Good luck.

Sorry I didn't have time to read all the above. But, I always suggest going to the credit union for a loan. They'll have the lowest rates in town.

Also might I add, banking with a credit union. This builds up a strong relationship with the bank, then during instances like this your chances of being approved are much greater - as well things like direct deposit, etc. If your thinking that credit unions are not convenient, that's not true anymore. Pick a credit union connected to the CU services - this way you can bank at all credit unions, regardless to if that's your original credit union. Not to mention all the ATM benefits to banking with a credit union. (Who knows maybe you already bank with a credit union?) One more thing, all credit unions are non-profit.

Good luck.

- Joey

I need to refiance my car, It's currently under my mom's name with a rate of a whopping 24% over $11k in fiance, I have a score of about 631 with TU, I have alot of new cards, with a few older ones, all my cards are paid on time, I went BK in 2003, I had a few loans at my CU, but since they were a few days late a few times they will not give me a new loan, even a loan for a car, like a secured, they were never reported late to the credit companies but they are holding it agasnst me, what do you think is my best bet??

I just got unemployed a few months ago, and I am collecting, I got a long time before It will run out, but I need to save myself some money, yet I cannot really say I'm out of work because I don't think you can consider unemployment to be a job, what is my best bet??

I am using Americredit, they are the worst credit company in the world..

payments $364.12 a month for 7 years...

on a 15k card, I'm paying almost $26k.. HELP ME!

I had about 8 recent inquires for applying for more credit to build my score, should I wait like 6 months before I apply or what?

6/17/2009

Members are worried about scores (such as myslef).lol. please tell us about yours, including baddies (if any)

Yes, please do... Firestone and Tires Plus are affiliated with eachother, right??

Members are worried about scores (such as myslef).lol. please tell us about yours, including baddies (if any):

Smart man. He gets the benefit of a tradeline reporting to the bureaus, and a nice cheap payment PLUS it will be done quickly. Assuming he hasn't ----ed up with other lines, he should be pretty decent (or soon will be).

Wish I had been so smart before buying a 20K car....But I cant complain cause its treated me well..

Camry? What happened to the Tundra? I saw a 2010 Camry at this auto broker today, they messed with the grill (looks like the Venza's grill) and taillights.

Now there is your baller! Yeep yeep!

Helller! [snaps]

Not too far off the map. I will say this though, it is much better than a Chevy Aveo.....but not by much.....(believe me). If I had bought the car I wanted at the rate I got though.....I would be broke or at a second job right now.

In any event, you are right and I will definitely leave it at that

Dang gurllll, you will be big pimping it on your street.

I guess we're playing the guessing game here. I'm definitely blessed to be driving a new car (09 Toyota Camry) but it's definitely not my type of car. Don't get me wrong, it's a great. Handling is good, smooth ride, plenty of power, interior looks cool, etc.

I've always been a big fan of big block American cars such as the Trans Am, Firebird, Charger R/T, Challenger, Camaro, etc.

I wish I can get my hands on the 2009 Dodge Challenger, it's a pretty sweet ride but it's not the time to feed the 5.7L V8 every 3-4 days with gas prices rising again.

Camry? What happened to the Tundra? I saw a 2010 Camry at this auto broker today, they messed with the grill (looks like the Venza's grill) and taillights.

I guess we're playing the guessing game here. I'm definitely blessed to be driving a new car (09 Toyota Camry) but it's definitely not my type of car. Don't get me wrong, it's a great. Handling is good, smooth ride, plenty of power, interior looks cool, etc.

Well at least you described it best before you went there with the other cars...lolz:laugh:

Girl, when you get that ride, definitely rock something with a collar, put it up, and then dust your shoulda off like you be pimpin' and ---t. Cause you straight up will when you get it cause that's what you want.

Heeeeello! Pretty hard to talk to....lolz. You know I got to fly across the bridge w/o hubby and kids for a few days. Got to feel the power and luxurious sensation. You know what? I am just sitting here reminiscing and getting ready to go outside and hop into an Ole Dusty 97 Camry:laugh:. Why are you doing this to me? No new car smell in there, only stale cigs and whistling vents.

I guess we're playing the guessing game here. I'm definitely blessed to be driving a new car (09 Toyota Camry) but it's definitely not my type of car. Don't get me wrong, it's a great. Handling is good, smooth ride, plenty of power, interior looks cool, etc.

I've always been a big fan of big block American cars such as the Trans Am, Firebird, Charger R/T, Challenger, Camaro, etc.

I wish I can get my hands on the 2009 Dodge Challenger, it's a pretty sweet ride but it's not the time to feed the 5.7L V8 every 3-4 days with gas prices rising again.