Refinance auto loan for bad credit question?
Question by anthony: Refinance auto loan for bad credit question?
My brother is using my credit to buy a car. He's paying about 560 a month. As a result, I am not able to qualify for a full house loan. His auto payment is creating a high debt ratio for me. What can I do to get him out of my credit? Is there any company that will re-finance auto loan for bad credit and also transfer the credit to his name? Thank you for your answer.
Best answer:
Answer by sarahsmile90
It depends on his credit and it also depends on how much his car is worth and what he owes on it. If it is worth less than what is due on the loan then refinance is out of the question. So he needs to find out what his pay off amount is and then he should check on kbb.com to find the value of car. Hopefully it is worth more than the amount due and he can try his bank or credit union for financing. Good luck.
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