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Car loan to pay off finance question

Last post Wed, Mar 16 2011, 6:59 PM by Brewster0101. 2 replies.
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  •  Wed, Mar 16 2011, 6:59 PM

    Re: Car loan to pay off finance question

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    Select debt refinancing for sure. If they look at your credit application and credit record they may check to see how much debt you have. If it comes down to a manual process (someone checking personally) they will take debt refinancing into consideration.
    • Post Points: 5

  •  Tue, Mar 15 2011, 7:19 PM

    Re: Car loan to pay off finance question

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    CooperW - applying for a loan to pay off my finance on my current car.

    Most would call that, 'debt refinancing'...unless you're planning to purchase an additional car with the proceeds. Best to be honest & just tell it as it is.!
    • Post Points: 5

  •  Tue, Mar 15 2011, 6:23 PM

    Car loan to pay off finance question

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    I am in the process of applying for a loan to pay off my finance on my current car. The application asks for the reason for the loan. Is it best to say "debt refinancing" or should I just select "car loan"? Does it matter?
    • Post Points: 35