- Report: #693495
Complaint Review: Americredit Auto Fin
| Americredit Auto Fin P.O.Box 183593
Arlington, Texas United States of America |
|
Americredit Auto Fin High interest rate, no plan in place to help lower the reat, the company is a rip off, stay away at all cost Arlington, Texas
*Consumer Comment: Real World.
*Consumer Comment: Try to refinance.
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This report was posted on Ripoff Report on 02/10/2011 08:51 AM and is a permanent record located here: http://www.ripoffreport.com/r/Americredit-Auto-Fin/Arlington-Texas-76096/Americredit-Auto-Fin-High-interest-rate-no-plan-in-place-to-help-lower-the-reat-the-com-693495. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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Search TipsIf your credit is good, just refinance with another lender at a lower interest rate. That's how it's done in the real world.
You could ask them for the payoff amount and then approach a traditional bank for a SECURED loan to pay them off-your vehicle (with equity) would secure the new loan.
If you accomplish this, you should have a lower interest rate loan, but you will still have a lien on the vehicle. This will lower the interest rate significantly and might lower your monthly payments should you get refinanced for a longer period.
If your credit worthiness is good enough, you might get a SIGNATURE (unsecured loan) from a traditional bank at a lower interest rate to pay them off although the interest rate would be higher than it would be for a secured loan. The advantage is that for a point or two higher interest rate, the vehicle is PAID OFF and you will have a free title for it.
The choice is yours. Good luck.

