Is it possible to ask for a lower rate?
I have worthy credit but my co-borrower is the person near the not so good credit history. I enjoy been paying the coup¨¦ note in good time, never late since dawn of the loan.Will the bank be wiling to lower the interest rate since I own always remunerated the note prompt each month?
Answers: more than imagined, the best bet for you is to refinance it, thereby allowing you to get a lower rate. You can ask the dune for a lower rate, but they'll tactfully and beside a smile, tell you to receive bent. They have no gain surrounded by lowering your rate, however, if you refinance through them, then here is some gain for them. I suggest looking at other avenues like Capital One Auto Finance, Lending Tree, etc. It would support if you can prove that YOU have compensated that note and not the other entity. Good luck.
It never hurts to ask. They certainly are unlikely to do it if you don't...likelihood are that they won't but then I've call credit card companies before and asked for a lower rate on my card, and get it.
You might search other bank and see if you moved your loan to them if you could get a better rate. Your current edge might be more willing to lower your rate next, if the option is to lose your loan to a competitor.
By adjectives means, ask away. Most bankers will appreciate the opportunity to aid you improve your financial situation.
Do you want a lower rate, or are you looking for a lower monthly pocket money? The previous answers are correct, most banks won't basically lower your interest rate. However, if you go surrounded by and ask about ways to lower your donation, most banks will be inclined to talk. Sure, they want to receive money, but their best long term prospects of making money sour of you is by keeping you happy and solvent, not by forcing you to stay next to a loan that may be stretching you a bit thin.
What will probably take place is that you will have to re-finance the loan. There are a few factor that play into a rate on a car.
1. Age of the vehicle.
2. Credit of the borrower
3. Total financed.
4. Time financed.
The car is elder now, so that will hurt the rate, but you'll be attempting to receive a new loan for a shorter time than the inspired, so that will help. If you can procure the loan just surrounded by your name, that might lend a hand too.
Good luck!
I am a Co-signer?
I co signed for a unsecure loan for my brother. He has be 30 days late a few times. He say that it shows up on his Credit Report. The funny thing is I dont even see it on my at adjectives. If I am a co-signer why wouldnt it show on my credit report that I cosigned on the loan for him?? I dont understand this. Someone please comfort. This loan is actually 18 mos infirm. I have never see this on report.Answers: As a co-signer you are only responsible if your brother default. Then they will come after you. If you don't pay them, it will show up as a desperate debt against you.
NEVER co-sign for any one. Only bad things can come about.
As i know, a co-signer is just someone who is suppervising the enitial signer...
So basiclly you see the enitial signer fit to sign that document.
Just really so someone doesnt sign their enthusiasm away when their drunk..
Dont know if that answers your question or help you to answer your question.
Is 7.22% varible interest rate high??
Answers: I think the keyword here is varible, I mean the depending on what we are talking about, mortgage, car, HELOC, etc...what is the most it will change?
I think that is a bit high, and fixed rates are always in most cases the way to go so you are not getting into a later payment you may not be able to afford.
Avoid veriable interest rates at ALL cost.
Sure its low now... but when they decide to raise it to 20% later, it could ruin your life.
It depends on what type of account its on, for instance if its on a credit card then no its not that high but keep in mind and can get high very fast if its variable. If its on a mortgage then yes its high because right now rates are dropping and they are offering low fixed rates.