CAN DEBT CONSOLIDATION LOWER MY CAR LOAN PAYMENTS?

CAN DEBT CONSOLIDATION LOWER MY CAR LOAN PAYMENTS?

4 Answers

No dear, you cannot get your car loan payments lowered through consolidation. Car loans are secured and cannot be included in consolidation programs. Just as Amy has said, you can try refinancing your car loan to lower the interest rate. This can help in lowering the payments.


Nope, debt consolidation can’t lower your car loan payments. This is because debt consolidation is applicable only for the unsecured debt, not for the secured one.


Debt consolidation can't lower your car loan payments. This is not possible. You can try refinancing instead.


Car loan is a secured debt. It can't be consolidated. If you're facing problems in paying off your car loans, you should have a word with your car lender and try to set up a repayment plan with them and pay off the loan.


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