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Can you increase the amount of your loan after the funds have been disbursed?
"I just got a great price on a vehicle and bought it for less than its Blue Book value. I already got the check and gave it to the seller for the asking price.
A few days later, I decided that because my car is worth more and I got it on a discount, I can probably have more money to make some upgrades.
Can I ask for an increase of the loan amount after the funds have been disbursed?"
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“Since the funds have already been disbursed, you cannot ask for an increase in the amount of the loan.
However, you can probably refinance the loan whenever you want. This means that you’d go through the application process again, but this time you can request more money or the actual cash value of the car. This is the only way to get extra funds.”
View full answer
- Gregory R.
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