Why is it that even in these hard times, auto loan terms cannot be renegotiated? - renegotiate home loan
m "In a car of bad debts to April high. Come back when I am having some 50k/yr and had terrible credit, because the divorce. Now I have more than 100K/yr base and with my own house. No, I get a non-lending renegotiated terms. Why?
Tuesday, January 19, 2010
Renegotiate Home Loan Why Is It That Even In These Hard Times, Auto Loan Terms Cannot Be Renegotiated?
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2 comments:
Financing of cars is what I have to do in life and can be several things.
First, it is rather in the vehicle, then the banks feel they are worth it, especially if you are not willing to at least 36 months.
Secondly, all banks have really tightened their lending guidelines since the subprime crisis several months ago.
Thirdly, as far as renegotiating terms with your current lender that you understand that they have no incentive to do so and it would cost money in the long run.
They signed a document promising to repay the lender with specific terms. This was not a "well if you encounter difficult times, or lose the job or do not pay, we will work with you" clause.
Pay as originally agreed. If you make more, just to make double payments. If instead you do not see why he complained about this, at least you can afford.
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