I am presently a co-signer on my son's car loan. He could not get financing when he applied for

He was a waiter and bartender at the time and could not verify enough income. He now has a salary job and I want to get the loan refinanced in his name. Since his credit is not perfect, I'm not sure the best place or places for him to begin the process. Has anyone gotten refinancing without perfect credit and where?

I am presently a co-signer on my son's car loan. He could not get financing when he applied for the loan....

You might try Wells Fargo, H.S.B.C. or Capitol-One.

I've had good luck here...

http://auto.deal4-you.com

All the best to you.

I am presently a co-signer on my son's car loan. He could not get financing when he applied for the loan....

well its pretty hard but he can go where you have it and try and sometimes they will give you little smaller payment and get in his name which is what you should be trying cause if he stops paying and that means you co-signed actually you are one getting the benefits of paying for it regardlessi ts your cedit they are using and hes stopping you get the bill or your credit goes to heck. take care. try to refinance through your company. take care.

I am presently a co-signer on my son's car loan. He could not get financing when he applied for the loan....

Yes, he can get financing with less than perfect credit. A good place to start is e-loans (eloan.com). I went through them when I refinanced one of my vehicles. It wasn't the best deal because I didn't have the best credit. But I was able to get the loan.

I am presently a co-signer on my son's car loan. He could not get financing when he applied for the loan....

To get refinancing, you would have to get another loan from another bank. The same bank will not refinance the agreement. Also, it's a car and the value will not be close to the original loan. So if you want to refinance a 10,000 loan and they feel the car is now worth 5,000, it will put you back in the same situation because the car is collateral. The best thing would be to accelerate the payments and reduce the interest, which would help any ones credit and cut the loan months down to what credit rating manageable.

I am presently a co-signer on my son's car loan. He could not get financing when he applied for the loan....

eloans is a great place to start. Are you in contact with the bank or place of loan that you first got it through? Perhaps they can still assist you.

How about a credit union. Sometimes they can help easier than a bank in my opinion.

I am presently a co-signer on my son's car loan. He could not get financing when he applied for the loan....

Was the problem his credit or income? I am confused. You say it was his income, but now the problem is his credit.

He needs to pull a copy of his credit report and credit score and you both need to review it. That way you both know the facts. You need to make it clear that you did not mind helping him, but he needs to get his credit cleaned up, otherwise there is no chance of getting the car refinanced.

If he is not interested, that is fine, then you can sell the car, pay off any shortfall and call it a day.

The only companies I know that refi a car are HSBC and Capital One, and as you have seen on the news due to high loss rates most lenders have been raising credit standards over the last 9 months.

Make sure you monitor the loan each and every month. Make him take some direct action EACH MONTH. That is the cost of getting help. Which seems more than fair to me. Have him copy the statement or go online print it and mail/email it to you each month.

You may end up that the best idea is just for him to make extra payments each month and payoff the loan more quickly.

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I am presently a co-signer on my son's car loan. He could not get financing when he applied for the loan....

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