Debt Dumpers 2026

[barkley]

Just talked to the bank about options regarding my car loan. My thought is that since my current APR is a tad high at 23.9%, I would like to try and take a loan at the bank if I can get a lower APR and lower payments. I've now got a higher credit score since I don't have the CCs anymore, and I paid off the bank loan. And my DTI isn't as high either. So hopefully that helps. We will see what they say. If they decline, then there's really no other options. And I'll just continue paying monthly payments and pay it off normally.

if you have any local to you credit unions, even if you don't belong at this point-give them a call and see what they might be able to offer. years ago we had a car loan with Wells Fargo and they ticked me off so I went looking elsewhere. called a couple of local credit union and despite at the time us not having stellar credit they still offered a MUCH BETTER rate and a discount if I did auto pay from the credit union account I would need to establish ($20 minimum balance which is still the rule today). just for the heck of it I just did a quick search on 3 of our local credit unions-rates as low as 4.74% on used vehicles (up to 7 years old) and a .25% discount for using auto pay (loan rates up to a max of just below 15%). we continued paying our old Wells Fargo payment amount and paid off the car WAY AHEAD of time.

 

[WDW_fan_in_TX]

if you have any local to you credit unions, even if you don't belong at this point-give them a call and see what they might be able to offer. years ago we had a car loan with Wells Fargo and they ticked me off so I went looking elsewhere. called a couple of local credit union and despite at the time us not having stellar credit they still offered a MUCH BETTER rate and a discount if I did auto pay from the credit union account I would need to establish ($20 minimum balance which is still the rule today). just for the heck of it I just did a quick search on 3 of our local credit unions-rates as low as 4.74% on used vehicles (up to 7 years old) and a .25% discount for using auto pay (loan rates up to a max of just below 15%). we continued paying our old Wells Fargo payment amount and paid off the car WAY AHEAD of time.

Thanks for that. We just decided to try that bank first because DW is a loan officer there. If that doesn't work, then I'll try and find a CU to join. I don't really want to join and open another new account. But also, the car is 10 years old. I bought it used in 2022 when it was 6 years old.

 

[barkley]

Thanks for that. We just decided to try that bank first because DW is a loan officer there. If that doesn't work, then I'll try and find a CU to join. I don't really want to join and open another new account. But also, the car is 10 years old. I bought it used in 2022 when it was 6 years old.

yeah at 10 years it's tricky. fingers crossed that you can get something at a lower rate.