By asking them to lower the rate. If it is possible to get another financial institution to take the loan at a much lower rate then they might do it in order to conserve the loan.
Auto finance is what I do for a living and the is no way you can force your existing lender to lower you rate, what you will have to do is refinance with another lender.
if you have an int rate that high, it;s because you have bad credit – unless your credit has improved drastically since you got the loan, refinancing will not get you a better rate (and you actually have equity in the car-doubtful until the last 12 months of the loan) and the current loan company will not lower it – why should they? you signed a loan contract for 21% – if you though that was too high, you shouldn’t have signed it
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By asking them to lower the rate. If it is possible to get another financial institution to take the loan at a much lower rate then they might do it in order to conserve the loan.
Auto finance is what I do for a living and the is no way you can force your existing lender to lower you rate, what you will have to do is refinance with another lender.
LOL! There is no way that you can force them to lower your interest rate and they almost never do so when asked.
if you have an int rate that high, it;s because you have bad credit – unless your credit has improved drastically since you got the loan, refinancing will not get you a better rate (and you actually have equity in the car-doubtful until the last 12 months of the loan) and the current loan company will not lower it – why should they? you signed a loan contract for 21% – if you though that was too high, you shouldn’t have signed it
You can’t make them lower the rate, but refinancing will help your situation and this site can help you with that.
http://fairautoloans.com