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Can I consolidate my car loan and credit card?

I’m trying to figure out how to lessen the amount of debt I have and the different pings on my account. I’d rather pay them all in one go. Is this possible?

avatar
Lauren Smith · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
It is, through a debt consolidation loan. This type of loan is kind of like refinancing, so you use it to pay off your debts and then pay just the one loan.
Here are a few things you should keep in mind:
  • A debt consolidation loan isn’t always the best idea, so make sure you go through your options carefully and talk to your bank and lenders.
  • Read over anything related to the consolidation loan carefully to make sure you can afford it.
  • Keep an eye on the interest rates so you don’t end up
    upside down
    .
If you need to save some money, the
Jerry
app can help make sure you’re getting the best deal on your car insurance. The Jerry app is free to use, and the average Jerry user saves $879 a year on car insurance.
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