Refinancing An Existing Vehicle Loan
| Listing Information | |||
|---|---|---|---|
| Amount: | $5,000.00 | Status: | Loan created |
| Grade: | D | DTI: | 40% |
| Lender Rate: | 20% | Borrower: | CapableOfCharacter |
| Finished | State: | IL | |
| Funded: | 100% | Group: | UtopiaLoans.com - Now Over $1 Million in Closed Loans!! |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-01-22 | EricsCC ROI: | 17% |
| Status History | |
|---|---|
| Jan 19, 2008 | Current |
| Jun 10, 2008 | Late |
| Jun 12, 2008 | Current |
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Purpose of loan: A BMW Z3 in which I want to refinance. I already managed to finance $11,000 from a local credit union called Numark Credit Union. I need the existing amount to cover the full cost because the current payoff amount is around 16,000. When I originally purchased the vehicle I put a down payment of $5000 and then I was able to finance the rest through the dealer and they slapped me with a 18.90% percent interest rate and a payment of $470 a month. Now I have been making these payments for over 1 year and 6 months and I still can't find a bank that can refinance my loan. The problem I believe is the number of inquiries on my account, which I will never understand because if an individual can pay his loans off and make timely and accurate payments, what difference does it have if he or she has his information open to inspection or viewing. My financial situation: My financial condition is great for my age, I recently turned 20 and I have great credit, I have never missed or been late on a single credit line, I have revolving balances and that?s because of education. I am currently a student at Northern Illinois University and I have been working full-time during my duration at school. Please review my credit profile for verification of statement and if you have any questions or would like further documents, paperwork, or forms, please email me so I can fax, scan, or copy statements or documents. Monthly net income: $1600 Monthly expenses: $1100 Housing: $ 0 Insurance: $ 120 Car expenses: $ 469.70 Utilities: $ 150 Phone, cable, internet: $ SBC package $99 Other: Tuition Loan $220 |
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