Latest Posts
Home > Ask The Get Out of Debt Experts > Can I Get My Bank to Reduce My Car Loan Interest Rate? – JT

Can I Get My Bank to Reduce My Car Loan Interest Rate? – JT

JT

“Dear Steve,

At this moment, I am paying high interest on my car loan? Do you think I can get the bank to reduce the interest even if my credit score is bad?

JT”

Don’t miss our free Get Out of Debt – “How To” Guide Series on a number of topics, for loads of practical advice, tips, and help to beat back debt. – Click Here

The Answer

 

Dear JT,

No. The best way to get them to lower the rate is to improve your credit score and then refinance the car loan.

Here is an article about how to do that.

Steve

Can I Get My Bank to Reduce My Car Loan Interest Rate? - JT by

Share This and Spread the Word

About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
  • eugene blackman

    i like to know if i can refinance my car or trade it in icurrently owe 21600 on a chrsyler 300 my payments are 592.00 a month my income is not the same when i bought the car i am unemployed now and my social security is 995.00 a month my wife pension is 1800.00 a month my credit score the last time i checked was 602 my wife credit score is 640 ineed to get a lower car payment can i trade this car in and get a lower payment

Get My FREE Get Out of Debt Guy Newsletter

It is the smart thing to do.

I promise to keep your email safe and secure.

Close

I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

You can unsubscribe at any time with just one click.

After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.


  • It will keep you posted on the latest scams.
  • You will be alerted to the latest articles.
  • You will wind up smarter than everyone else dealing with debt.