Working Your Debt Solution Plan: Your Auto Loans
The Dollar Stretcher.com 'Get Out of Debt' Course
Do You Have a Debt Problem?
How Long Will It Take to Solve the Debt Problem?
Deciding to Solve a Debt Problem
Your Credit Cards
Your Student Loans
Your Unpaid Taxes
Restoring Your Credit
Charting Your Financial Future
This lesson is designed to give you tools that will help you reduce the time and effort to eliminate your auto loans. In this previous lesson you used a calculator to prioritize your debts and see how long it would take to pay them off. Now we'll show you ways that can make your job easier. Let's get started!
The goal is the same as for your mortgage or rent. Can you reduce the amount that your car loan costs you each month? If you can, that extra money can be applied to solving your debt problem. Once again we'll use a tool from Bankrate that compares auto loan rates.
Open the Bankrate tool. Click the Change Search button and then select your location. Then under Loan Type, select Refinance. Lastly, choose a Term. Once you click on See Results you'll be taken to a page with a number of lenders. Each will display their APR. Select the lowest and click "Next". You'll be asked a number of questions about your vehicle. Work through the process and see how much you could reduce your car payment. Any money you save can be redirected to solving your debt problem. Go to the Bankrate auto loan comparison tool now to see if you can get a better auto loan rate.
If you are working to get out of debt, our free weekly Surviving Tough Times newsletter can be a great tool. Each issue features great ways to help you stretch your dollars and make the most of your resources. Subscribe today! Or you can like us on Facebook or follow us on Twitter. Simply look for posts marked with #TDSGetOutOfDebtCourse to get helpful ways to make extra cash and trim monthly expenses so you can free up additional money to put towards your debt.
Have you decided not to do anything about your debts? Here's what the future has in store for you.
Choose the Next Step of Your Debt Solution Plan:
- Reduce your mortgage payment
- Reduce your credit card debt
- Reduce your student loan payment(s)
- Restore your credit
- Chart your financial future
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