Can I refinance an auto loan and use it to make a purchase?
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I have a Capital One auto loan, I’ve paid on time and more than minimum for 19 months now. I’ve heard of the concept of re-financing a current loan and adding to it to purchase another vehicle–probably not ideal financially but maybe good for me. Does anyone have experience with this?
I share vehicle situation with my fiancee–we share the cost of the first car we’re paying, and we’re looking to add a second. Seems relevant based on answers.
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pbleek said:
Absolutely you can, you will find that getting deeper into debt is never a problem. Finance companies love your money.
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0December 25th, 2009 at 2:56 am -
john t said:
Properly maintaining your own vehicle is always cheaper and financially smarter than just getting another car .The other car that you want will also break and need repairs if it doesnt already.Learn to be happy with what you have and life will be much more pleasant for you-i promise.
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0 0December 25th, 2009 at 2:56 am -
Fred said:
lease….then your never stuck with the same car forever.
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0 0December 25th, 2009 at 2:56 am
