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Vehicle Refi Question...is it possible?

Guest Packer01

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Guest Packer01

Wondering if this is even possible or advisable...and does anyone have any recommendations. I would like to refinance my car at a lower interest rate and attempt to get my payment down my current payment is $497.


Credit situation:  

Filed BK in 2010 and was not planning on having a car loan ever again but... December 2013 my paid for car blew the engine at the time I did not have an income so the loan is under my husbands credit.  We were able to finance a car through Capital one at 12.99%  Original loan was around $24,000 current balance is $20,250.


We have established credit with a mortgage (under my credit) several credit cards and  on time payments, According to credit Karma we both have fair credit I am around 641 husband is 678-687 .  We have 18 months of on time payments with the car.  


I am trying to avoid a ton of hard inquiries on my husbands credit report ( equifax shows 19 mostly from the purchase).  Because we recently purchased the house I don't have any money to to put down.


Does anyone have a suggestion of whom we might be able to go through I don't have additional money to put into a refi at this time so hopefully a bank that would take the entire loan value as I'm sure the car is worth less than the current balance.  


Thank you for any suggestions

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