can u negotiate a lower interest rate on an auto loan after u purchase the car?

Mar 21st, 2010
by admin.

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Posted in: Auto Loan.
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4 Comments

  1. filiplukomski says:
    March 21, 2010 at 7:18 pm

    if you signed a contract it’s too late .

    You can renegotiate it if your brake the contract but that’s going to be very expensive to do .

  2. rusty_266 says:
    March 21, 2010 at 7:42 pm

    Probably not. What incentive does the lender have to renegotiate the terms after you have bought the car? You can refinance the loan however.

  3. mbz says:
    March 21, 2010 at 8:35 pm

    You can refinance the car for a lower intrest rate. Call the bank.

  4. Brian P says:
    March 21, 2010 at 9:34 pm

    Any negotiating will have to take place directly with the bank or credit union who originated the loan. It does hurt to ask them and may help if you say that you’ll take your business elsewhere if they don’t work with you.

    You should first think about applying online to refinance your car loan with online lenders like Capital One, Up2Drive, Bank of America or Wells Fargo. Most don’t charge any application or prepayment fees although you may have to pay a small title transfer fee. Refinancing your auto loan is much simpler than refinance a mortgage loan and it’s something that alot of people don’t even know they can do.

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