Different, several different ways you can get rid of the car payment. One is to obviously sell it out right, two is to refinance the vehicle that a lot f secondary and even some big banks out there that will give you a new loan based on credit.
You have good credit and you didn’t at the time, you purchased a vehicle, or you may want to look in to that because you can save yourself some money by obtaining a new loan that has a lower interest rate. Or you can maybe perhaps borrow the money from a friend or a family member and hopefully, they’ll be able to, they’ll charge you a lot less than your current note.
If you’re a homeowner and you have some equity, another way that you can get rid of it is by obtaining a home equity line of credit, or a second mortgage, if that mortgage, the rate on that mortgage is going to be lower than the, than the interest rate on your car payment, then that’s certainly another way that you can go about it. Either way, it will obviously get rid of your car payments.
Auto Loan Advice – How to Get a Cheap Car Loan?
Car loans are based strictly on credit so the better credit you have the cheaper the loan will be and what I mean by cheaper is the rate itself.
Rates to determine the payment
So rates are what are going to determine the payment and most people should go to their credit union or local bank where ever they have their banking, checking account, savings account those banks or credit unions will have specific types of loans for automobiles and that’s probably the cheapest way to obtain a car loan.