Can i get a car loan after refinancing my house?

Emilie
We are working on refinancing our house and so far all is well. We plan to purchase a vehicle in a month or so. I am wondering if there will be a problem getting a car loan with minimal interest rate after refinancing our house. Any advice is much appreciated.

Daron
As long as you are not taking out additional equity from your home (you will owe the same amount at a lower or a fixed rate), your refinance shouldn't effect your credit (except for the hard credit inquiries your lender will make up until the loan closes). If you had good credit to begin with, it should be fine.If you are increasing the amount you owe, it may adversely effect your credit scores. The car loan itself may also negatively impact your credit score depending on your overall credit availability, total borrowed amount and ability to pay (based on your income).

Bettie
There will not be any problem after refinancing your home. Today every person has need of car, because it has become the necessary need for the people and status symbol also. If you have bad credit history or poor credit history and look for purchase a car, then it is very tough for you. Due to bad credit history, lenders are not keen toward<!--providing you loan, but do not be discouraged.Generally, bad credit car loans are available at higher interest rate, but you can take at competitive interest rate after placing your assets as collateral in secured bad credit car loan. You may find some car loans here, http://badcredits.awardspace.com/guaranteed-car-loan.htmYou also can grab bad credit car loan without keeping your asset as collateral, but you have to pay competitively higher interest rate. Hence-->you can take this loan at better rate, because competition among lender.You can reduce your interest rate after talking with the lender

Gertude
Yes you may do it but i advice you not to beleive online brokers. For a detailed guidance visit http://loan.sjdinfotech.com