Expert Advice for Refinancing

All Questions on Refinancing

What happens if I'm stuck with two car payments after a divorce?
My husband and I had two vehicles during our marriage, and when we separated, we each kept our respective cars. Unfortunately, my name is still on the loans for both of our cars since my husband couldn't qualify for the loan on his own. I'm stuck paying my $500 a month and now his $400, which he says he can't afford to pay now. What are my options?
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Sophie Newman
Aug 11, 2021
Is there a way to get your name off of a car loan without refinancing?
I want to remove my name from the car loan I share with my ex-wife, but she won't qualify for a loan on her own. What are my options?
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Sophie Newman
Aug 11, 2021
How do you transfer car insurance and loans during a divorce?
My wife and I are getting divorced soon, and I want to transfer the loan title and car insurance to her. What are my options?
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Sophie Newman
Aug 09, 2021
What happens to a car loan during a divorce in California?
My wife and I took out a loan on a Subaru several years ago before we decided to split up. There's still about $20,000 to pay off. We've decided that she can keep the car, but my name is still on the loan. Is there any way to remove my or am I stuck with it?
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Sophie Newman
Aug 09, 2021
If neither my wife nor I want to keep a car during a divorce, can we return it?
During our marriage, we bought a 2018 Prius, but now that we're divorcing, we can no longer afford to pay for the loan. Can we turn the car back in to the dealership for a cheaper one? What will be the implications for the loan?
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Sophie Newman
Aug 09, 2021
Can you refinance a car during a divorce in Illinois?
My spouse and I have shared a car for the duration of the marriage, but now we've agreed that he can keep it by buying me out of it. Can we refinance the loan with just his name?
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Sophie Newman
Aug 09, 2021
What happens to debt during a divorce in Oklahoma?
My ex spouse and I have some shared debts (car, house, etc.). What will happen to these responsibilities from a legal perspective during our divorce settlement?
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Sophie Newman
Aug 09, 2021
Do I have a legal right to the car my ex and I shared?
The loan is in my name, but the title's in her name and she's currently driving it. What are my options?
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Sophie Newman
Aug 09, 2021
How do you transfer car loans during a divorce in Colorado?
My future ex-spouse wants to keep the Jeep that we bought during our marriage, and we've agreed to this, but my name is still on the loan. How do I ensure that I'm not responsible for loan payments after our divorce?
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Sophie Newman
Aug 09, 2021
Should I refinance before or after a divorce?
My spouse and I are separated but not officially divorced. I want to refinance so I can get just my name on the mortgage payments (he's agreed to let me keep the house). When should I file for refinancing?
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Sophie Newman
Aug 09, 2021
Should I finance through Hyundai Motor finance to get incentives and then refinance through my credit union?
I want to buy a new Hyundai Kona. Hyundai Motor Finance is currently offering up to $3,500 worth of incentives. The only problem is that they want to give me an interest rate of 5.99% compared to 2.9% from my credit union. Can I finance through Hyundai and then refinance immediately through my credit union?
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Eric Schad
Aug 02, 2021
Can a Florida-based car dealer sue me because I got a loan for incentives and paid it off the next day?
"I went to a dealer to finance a vehicle to get $5,000 worth of incentives. My plan all along was to get this loan and see if my credit union could refinance the loan. I was able to refinance, so I paid off the loan the next day. Now the dealership says they're going to sue me. Can they legally do this?"
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Eric Schad
Aug 02, 2021
Why does a dealership drop the price of a car if I finance with them?
I want to finance a car for $12,000 through the dealer because they said if I finance with someone else that the price jumps to $16,000. They're prepared to offer me a 60-month, 8.99% loan, as my credit is mediocre. How can dealers justify this price drop only if I finance with them?
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Eric Schad
Jul 30, 2021
Can you get financing through a dealer to get the rebates and then immediately refinance through another lender?
I've heard horror stories about financing through a dealer, but my local Kia dealership has great rebates and bonus cash. I can only get these incentives if I finance through them. That said, the rate they're offering me is a bit high (4.99%) compared to my local credit union (2.99%). Can I finance through the dealer to get the incentives and then immediately go to another lender?
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Eric Schad
Jul 30, 2021
Do I have to wait 90 days to refinance a vehicle?
Do I actually have to wait a certain period of time to refinance? I purchased a car at a specific rate because I got $1,000 bonus cash from the dealer. I'm fairly certain that I can get a lower rate if I refinance, but the dealer told me I have to wait 90 days.
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Eric Schad
Jul 29, 2021
Do I have to wait three months to refinance a car loan I took for dealer incentives?
Do car loan contracts prevent you from refinancing after buying a new car? I bought a new car at the Chevy dealership yesterday and financed it at 4.99% to get nearly $2k off the asking price. The salesman said I have to wait three months before refinancing with my credit union for 1.99%, but I don’t see any mention of it in my contract.
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Johnny Puckett
Jul 07, 2021
How long do you need to wait to refinance a Honda?
"How long should I wait after purchasing a car to refinance? I just bought a Honda Fit but I noticed that I might have paid too much on my rate."
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Eric Schad
Jul 28, 2021
Do banks provide car title loans?
"Do banks do car title loans for extra cash? I want to get some quick cash for an emergency, but I don't have enough in savings. However, I do own a car."
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Eric Schad
Jul 28, 2021
Can I borrow some funds against my auto loan?
"Is it common practice to borrow money against your car? I want to get money for a purchase and I don't own a home, so I wanted to see if I could borrow cash against my auto loan."
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Eric Schad
Jul 28, 2021
Does your car down payment include taxes?
"I want to make a down payment on a vehicle. Does a car down payment include taxes?"
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Eric Schad
Jul 28, 2021
Do you have to make a down payment when you refinance a car?
"Do I need money for a down payment when I refinance? I want to refinance my car."
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Eric Schad
Jul 28, 2021
How can I lower my monthly car loan payments without refinancing?
"Can I lower my monthly car payments without refinancing? I have a car loan, but I want to lower the monthly payments."
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Eric Schad
Jul 28, 2021
Is it possible to pull equity out of a car?
"Can you pull equity out of a car like you would with a house? I want to get some money for home upgrades. I know you can get a home equity loan, but I was thinking I could do the same with my car."
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Eric Schad
Jul 28, 2021
What do lenders look at when you refinance a vehicle?
"What do lenders look at when they're refinancing a vehicle? I'm thinking about refinancing my car, but I'm not sure how the process works."
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Eric Schad
Jul 28, 2021
Is it better to refinance or trade you car in?
"Is it better to refinance your car or trade it in in order to save money? My car is a few years old and I still have 24 months of payments on it. I was looking at getting a new car and trading this one in, but I also might just refinance the one I have."
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Eric Schad
Jul 28, 2021
How can I lower the monthly payment on my car loan?
"How can I lower the monthly payment on my car loan? I was looking at lenders for a car loan, but some of the monthly quotes are out of my price range."
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Eric Schad
Jul 28, 2021
Can I get cash back by refinancing my car?
"Can I refinance my car and get cash back? I owe way less on my car than what the car is worth and could really use some extra cash right now."
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Johnny Puckett
Jul 28, 2021

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