RTBS Rypin – Rypińskie Towarzystwo Budownictwa Społecznego

Considering all the factors, if your car’s value is less than your loan amount, it’s not ideal to go with this option. You should seek the help of a professional appraiser before you put your car on sale.

When you can’t refinance your car, trading it in for a less expensive one can work for you. Bring your car to your dealer and ask for a downgrade to a less expensive and used car. Doing so will reduce your loan balance. If you have excess equity in your car, you can use the money to pay your loan.

6. Transfer the Excess Balance to Your Credit Card

If paying the monthly car repayment amount is your problem, moving the excess balance to your credit card can make the payments more manageable. This works if you have a huge credit line and you can take advantage of a 0% introductory annual percentage rate (APR).

However, you need to be disciplined about paying your credit card so that you will not create more financial trouble for yourself. Getting into credit card debts will hurt your credit standing. So, make sure you can commit to paying regularly and timely to avoid incurring additional interests and penalties.

How to Avoid Bad Car Loans?

To avoid a terrible experience of getting into bad car loans, you need to make sure you’re taking the right steps from the outset. Czytaj więcej →