Can I consolidate numerous car loans into one monthly payment?

I want to consolidate five car loans into one for an easier payment each month. Can I do this easily?

Answer
You can certainly consolidate five car loans into a single loan. Just apply for an auto consolidation loan.
An auto consolidation loan takes all your existing loans and combines them so you only have one monthly payment. In some cases, an auto consolidation loan can get you a better interest rate than five different car loans individually.
To qualify for a new loan, you need to have enough income to support the monthly payment and a good credit score. Since you already have existing loans that would simply be combined, you should be in prime condition for approval unless you’ve suffered a huge hit to your credit score recently.
If you want to save more cash to finance your car more quickly, try Jerry. You’ll be able to compare dozens of competitive quotes and choose a more affordable policy. Whatever provider you choose, make sure you’re getting a multi-car discount for your five-vehicle entourage!
Eric Schad
Answered on Oct 29, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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