Hi Rodney😢 I wish!! I could've came across your videos 2 months ago before I went to the car dealership. I definitely needed you there with me. Keep educating us. Thanks for the info
Golden info once again Rodney!! I was fortunate to be able to retain my job during the pandemic with less hours, but I’ve thankfully been able to start freelancing & even started a UA-cam channel on online money & personal finance and it’s GROWING! Thanks for the great content and remember bois NEVER GIVE UP ON YOUR GOAL!
I'm torn between refinancing my car to get a family member off the loan but at the same time I want to trade it in for the car I really want. Please shine some of your knowledge on this as a benefit to others who are also in the same dilemma that I'm in. I'm not too bothered about it though. I just need some of your wisdom before I make that move. For now I've got my first priority in the way which was to qualify for a Care Credit credit card for some medical expenses that I can't afford out of pocket for procedures that my copay may not cover before refinancing or trading in my car. I love your work and would like to say Thank You for helping save America from predatory lending! Because when it's a "Dog - eats - Dog World", as a consumer, we need to know how to bite back instead of barking along with the rest of the crowd.
New sub! Question for you: I’m financing through Santandar, high interest and I basically hate them so I want to refinance ASAP. It’s been 2yrs since I purchased the car, I owe 10k (damn near the price I bought it for smh). The car is starting to have issues, nothing major yet very annoying. Lastly I want to buy a house within the next 6 months, will refinancing now hurt my credit? Should I get the house first then trade the car in? I really want to lease. Any advice would be appreciated🙏🏾
If your credit has improved, I would suggest that you that refinance with a local credit Union. In the climate that we are in now, I would suggest waiting on purchasing a home because of interest rates and the houses are over priced. During the time after you refinance, keep your credit card balances low under 30% but 1%~3% is even better. No late payments. During this time pay on time and improve your scores…keep your debts very low and then house shop! I hope this helps although I’m very late.
Thank u so much! I am planning on refinancing soon. I have been very very pissed by the fact that I bought a 2018 Hyundai Elantra GT. For around 15000. I was told to get a co-signer but they decided not to and have me do it on my own. I was excited and didn’t pay attention to the monthly payment. I didn’t have enough money but to pay 2000 down payment. My interest rate is extremely high. 24.4 percent. It is a lesson learn thank you! I will go ahead and figure it out.
Wait, so.. If you refinance to shorten the length and thus lower the interest rate, could you end up paying less monthly than if you go into a refinance just to lower your monthly payment? I totally understand that long-term lowering the monthly payment means paying more overall, but why would anyone do that if shortening the length and getting a better interest rate = paying less? I may be confused.
hi thanks much for video🙏 but i couldnt find anywhere whats the dmv process of refinancing , do i need to pay registiration fee again ? or do i need get new insurance plan , how it works , thanks in advance
So you need to give us a update on financing and buying cars since of covid the interest has been low on housing and car buying/leasing. I need to know the video you posted 7 months ago is still useful for me now. I saw you old video from 7 months that’s bout leasing a car with only giving the dealer the MSRP option to go off it but we needing to also look up the value etc. And please respond to my message on that video.
IMO, a consumer can refinance any time, whether or not the Auto agreement says so or not. If you purchase a car, read your agreement thoroughly, because there are certain disclosures they fail to give you. The disclosures MUST be written "clear and conspicuous" NOT in micro print. That is a violation, and it can nullify the agreement, as fraud vitiates all solem contracts. Read The Truth and Lending Act 15 US Code §1691 - Scope of Prohibition.
Hello Rodney 👋🏼 I know this is kind of an old video now, but I'm hoping that you'll still see this. Right now, I'm 6 months into my very first car loan with a 700+ fico score. My current rate is 16.9% unfortunately, but I applied for refinancing, and All In credit union offered 8.74% for the same term. Should I take it or wait for my payment history to be a little longer (in December 2023 for eg.) before I refinance the loan? I noted that the federal funds rate is projected to go from 5.25% where it is right now to about 4.75% by the end of the year.
Hey whatsup Rodney ! Got myself into some car loan trouble and wanted your expertise for best possible outcome , when will you be available for a 1 on 1? Thanks in advance!
I have car payment for $1120 a month with 8.14 % should I stay the way it is ????? Or do u recommend to refi???? I really appreciate it if your answer back thanks
What’s a good credit score you should have in order to be able to be approved for refinancing a car? I want to refinance my car but not sure if my credit score is at the level that I can be approved
whats the formula you used to calcualte your monthly payment on a 18% rate? because its not adding up on my end?? how did you get $508 a month please explain
Hi Rodney. I have two questions. 1. Is it best to get pre-approval from a bank BEFORE going to the dealership or not? 2. Years ago, I purchased a vehicle. I had decent credit (702 credit score) but the dealership said I was considered a 1st-time car buyer because I hadn't made a major purchase in years. I was charged an absurd interest rate for the vehicle. Why was this the case? I did purchase the vehicle but refinanced it 9 months later at a REALLY, REALLY low rate. Can you give me some insight, please?
I co signed. Then I had to turn around and get my own car. They hit me hard. 😢. But hey that’s how it is as a parent. But if it was a boyfriend. Nooooope
What should i do? My dumbass recently got a used 2015 hyundai tucson with 21.89% interest rate and owe $23,000 for 60 months? My first payment is on October 22nd? Should i refinance or wait until i get my credit up? :(
Okay so what about if I bought a car at the dealership and want to refinance it with my car 7 days after I bought it. The car salesmen lied to me I had my own bank finance when I went in and the car salesman told me the bank wanted me to put 2500 down even though it said 0 down. So then he went on his computer and said Honda had a better offer he still kept pushing for me to give him 2500 down then he asked for 2100 then he asked for $700 and then he asked for $500 down as I kept saying no. Then because I felt pressured I told him the most I could give him is $275 down so he said Honda said yes and then he said my monthly payment was gonna be $721 but then he said let me see what I can do cause I told him that monthly was too high and then he said god really must love you because Honda lowered the monthly for $651.
But when I spoke to people around me like family and friends they said the salesmen basically screwed me over because if my bank had already approved me for $25000 and 0 down that the salesman saw it as a lose and so he lied that when he checked with chase bank that no matter what chase wants 2500 down. But the loan said 25000 and 0 down so it confused me.
Hi Rodney , thanks for the information! When I got my first car, I had bad credit so my interest was high. My credit is really good now, I have not refinanced, I pay promptly never been late. Eventually I want to upgrade my car soon. My question is , will there be any effect if I refinance my current car and then upgrade. What do you recommend?
I just bought brand new car 2 months ago. I had 720 credit score and they gave me %11,9 APR. Rn I’m thinking refinancing. Is that possible to lower down my apr? My first financed car and I’m 20 yo.
I need help!! i signed a bill of sale on Saturday but realized lots of info missing and incorrect too when i got home.went back today Monday to backoff but they insisted i cant and demanded for void check and insurance which I didn’t give.I told them ain’t picking the car tomorrow and i left.they have been calling me to come in and change to a different car at a good prize and have refused and they GM threatens to send the car to my house and says there will be more charged to it(threat)..so what can i do??reside in ontario
hey so I have a question , I can't refinance if I have collections and inquires on my credit ? my credit has shot up I have 100% payment history but pnc recently jus denied me and I'm confused I've invested so much money into this car my apr rate is 24.90% at this point I think I'm just getting got ,please help me I just want to lower my car note before I move into my apartment I don't want to have to give the car back but its looking like that's the only option .
Please please respond. Am judt about to sign a refinance papers with capital one switching from Santander usa bank. Am not very sure of what am doing. Please help thanks
Great tips! I really appreciate it. I married my husband because he only has eyes for me and he is a hard worker, he’s average looking. But I was always afraid to use him as a co signer , because I would be stuck with him . But now that I know I can re finance and he can go about minding his own business this info is a valuable asset! Well I will be with him til death do us apart, But if he ever commits adultery I will go about my business 👩🏻💼
🔥Ready to buy a car but your credit ain't right?? Read this ebook: bit.ly/RodsCreditEbook
This video is straight to the point. Explanation is clear and concise. Thanks for sharing.
💯
I went from a 22.9% to a 7% however I’m still gonna make the same monthly payments to help pay it down faster.
Was ur credit score higher when u refinanced then when you get it out the dealership?
Where did you refinance it ? 😭 I want to do mine
Where did you go?
That's actually a good idea to keep paying what you where paying before to save even more money over time 😉
Wow and I'm over here trying to refinance because I got a 6.3 interest rate.. 22% interest rate? I would never buy a car . 😂😂😂😂
Hi Rodney😢 I wish!! I could've came across your videos 2 months ago before I went to the car dealership. I definitely needed you there with me. Keep educating us. Thanks for the info
The #1 video straight to the point ,Better explained ,just what i was looking for to make my next move make more videos like these❤thank you
Golden info once again Rodney!! I was fortunate to be able to retain my job during the pandemic with less hours, but I’ve thankfully been able to start freelancing & even started a UA-cam channel on online money & personal finance and it’s GROWING! Thanks for the great content and remember bois NEVER GIVE UP ON YOUR GOAL!
God bless you my brother very much appreciated this vid
I'm torn between refinancing my car to get a family member off the loan but at the same time I want to trade it in for the car I really want. Please shine some of your knowledge on this as a benefit to others who are also in the same dilemma that I'm in. I'm not too bothered about it though. I just need some of your wisdom before I make that move.
For now I've got my first priority in the way which was to qualify for a Care Credit credit card for some medical expenses that I can't afford out of pocket for procedures that my copay may not cover before refinancing or trading in my car.
I love your work and would like to say Thank You for helping save America from predatory lending!
Because when it's a "Dog - eats - Dog World", as a consumer, we need to know how to bite back instead of barking along with the rest of the crowd.
Very helpful! Thanks as always Rodney.
Glad it was helpful!
This cutie always has great car advise! It has helped me tremendously!
You need some water?
@@nawec8484 😂😂😂 she choosing
@@nawec8484 first of all I am not thirsty. Never have & never will be. Second when did it become a crime to give a compliment? Get a life
Damn you guys really got hostile towards her on a video about refinancing a car huh? 😂 That’s a little sad
@@charity7142 they are weird af..
I just did a refi to get a lower interest rate went from 17 percent to 8
Liked & subscribed! Short, sweet, & straight to the point! Thank you
Good stuff, bro!
Thanks for the knowledge great video
New sub! Question for you: I’m financing through Santandar, high interest and I basically hate them so I want to refinance ASAP. It’s been 2yrs since I purchased the car, I owe 10k (damn near the price I bought it for smh). The car is starting to have issues, nothing major yet very annoying. Lastly I want to buy a house within the next 6 months, will refinancing now hurt my credit? Should I get the house first then trade the car in? I really want to lease. Any advice would be appreciated🙏🏾
I'm with Santander too! Lol
Same here
Me too I hope someone answers this
Hate them the price for the car barely moved smh
If your credit has improved, I would suggest that you that refinance with a local credit Union. In the climate that we are in now, I would suggest waiting on purchasing a home because of interest rates and the houses are over priced. During the time after you refinance, keep your credit card balances low under 30% but 1%~3% is even better. No late payments. During this time pay on time and improve your scores…keep your debts very low and then house shop! I hope this helps although I’m very late.
Thank you for the info. I appreciate it. Keep up the good work. I will buy my next SUV in cash. Be blessed.
Thanks. Great info.
Awesome information! Thank you!
Thank u so much! I am planning on refinancing soon. I have been very very pissed by the fact that I bought a 2018 Hyundai Elantra GT. For around 15000. I was told to get a co-signer but they decided not to and have me do it on my own. I was excited and didn’t pay attention to the monthly payment. I didn’t have enough money but to pay 2000 down payment. My interest rate is extremely high. 24.4 percent. It is a lesson learn thank you! I will go ahead and figure it out.
Same applies to me. 24.....
Dam your car was 15k with that interest rate your paying like 35
U could have driven any car you’d like for what you are going to pay for that. You will end up pay double what they are asking.
It hurts because myself and too many others are paying about 20% interest on these damn cars just to have reliable transportation
did the salesman atleast take you to dinner first before fucin you?
Excellent data. Keep up the Great Work!
Much appreciated!
quick and simple. love.
I’m financing at 75 months 4.5%. Will you recommend going to 60 instead? When do you think I should do so ?
Great vid gang
Thank you Rodney.
So if I refinance for a lower interest rate but make the same payment as before is that A GOOD THING ?
Thank you for this advice
This is my question when that refinance is done how does that show up on your credit report? Is it removed or does it show as paid off?
My guy Rodney doing his thing!!!
Great info Rodney! Thanks!
Appreciate ur knowledge sharing bro!!it was helpful much more
Wait, so..
If you refinance to shorten the length and thus lower the interest rate, could you end up paying less monthly than if you go into a refinance just to lower your monthly payment? I totally understand that long-term lowering the monthly payment means paying more overall, but why would anyone do that if shortening the length and getting a better interest rate = paying less? I may be confused.
That’s what he’s saying. Don’t just go for lower payments. A lower interest rate does decrease the payments.
Because I think u can get lower payments without getting a lower interest rate and some banks or dealerships may try to get over on you that way
Very helpful answered all the questions in my head 👍
Perfect thanks my brotha
Thank you so much. Love the info
Thanks G
What’s the longest you have to wait to refinance your car?
After 3 months i heard thanks
appreciate the video
I did not know that about cosigners. Good information
Great video!
Thank you
My rate is 22% for 53mo. I was looking to refinance to lower my payment 😣 but I’m not sure if I should leave it or not..
That’s high interest
That sounds illegal 22% smh keep grinding luv you a get down or pay it off
Don't feel so bad.. I got hit up for 17.1 % for 75 months. I was not in a good credit start lol.
Great video thanks!🏅
You're welcome!
He made it so easy to understand thank you 🙏🏼
Can you talk about car leasing ? How it works ? Can you return the car before the lease over?
Very helpful
I like what you said bro.
hi thanks much for video🙏 but i couldnt find anywhere whats the dmv process of refinancing , do i need to pay registiration fee again ? or do i need get new insurance plan , how it works , thanks in advance
So you need to give us a update on financing and buying cars since of covid the interest has been low on housing and car buying/leasing. I need to know the video you posted 7 months ago is still useful for me now.
I saw you old video from 7 months that’s bout leasing a car with only giving the dealer the MSRP option to go off it but we needing to also look up the value etc. And please respond to my message on that video.
Thanks
IMO, a consumer can refinance any time, whether or not the Auto agreement says so or not. If you purchase a car, read your agreement thoroughly, because there are certain disclosures they fail to give you. The disclosures MUST be written "clear and conspicuous" NOT in micro print. That is a violation, and it can nullify the agreement, as fraud vitiates all solem contracts. Read The Truth and Lending Act 15 US Code §1691 - Scope of Prohibition.
Are there certain banks you suggest to stay away from ?
Thanks sir
Hello Rodney 👋🏼
I know this is kind of an old video now, but I'm hoping that you'll still see this. Right now, I'm 6 months into my very first car loan with a 700+ fico score. My current rate is 16.9% unfortunately, but I applied for refinancing, and All In credit union offered 8.74% for the same term. Should I take it or wait for my payment history to be a little longer (in December 2023 for eg.) before I refinance the loan? I noted that the federal funds rate is projected to go from 5.25% where it is right now to about 4.75% by the end of the year.
If I were in your shoes I would take the rate your credit union offered. There's no guarantee that the rates will drop to those projected rates.
Thx
Hey whatsup Rodney ! Got myself into some car loan trouble and wanted your expertise for best possible outcome , when will you be available for a 1 on 1? Thanks in advance!
I have car payment for $1120 a month with 8.14 % should I stay the way it is ????? Or do u recommend to refi???? I really appreciate it if your answer back thanks
Where do you refi at
Good Content
I think my Fico Score was 600 plus Did a Refi went from 18% to 14% and payments went from 560 to 202 on a 9500 loan
What’s a good credit score you should have in order to be able to be approved for refinancing a car? I want to refinance my car but not sure if my credit score is at the level that I can be approved
whats the formula you used to calcualte your monthly payment on a 18% rate? because its not adding up on my end?? how did you get $508 a month please explain
Do we need cosign permission to refinance the vehicle bec we both own the vehicle
Hi Rodney. I have two questions.
1. Is it best to get pre-approval from a bank BEFORE going to the dealership or not?
2. Years ago, I purchased a vehicle. I had decent credit (702 credit score) but the dealership said I was considered a 1st-time car buyer because I hadn't made a major purchase in years. I was charged an absurd interest rate for the vehicle. Why was this the case? I did purchase the vehicle but refinanced it 9 months later at a REALLY, REALLY low rate. Can you give me some insight, please?
what interest rate did they give you before and after?
What about Lending Tree and Credit Karma loan offers?
More Kool👍👍
I co signed. Then I had to turn around and get my own car. They hit me hard. 😢. But hey that’s how it is as a parent. But if it was a boyfriend. Nooooope
Find discounted deals at car auctions near you. Find your location here: bit.ly/GetCarDeals
Can you do this with a business vehicle? 😬
Man, I haven't seen your videos in years. Where have I been?
What should i do? My dumbass recently got a used 2015 hyundai tucson with 21.89% interest rate and owe $23,000 for 60 months? My first payment is on October 22nd? Should i refinance or wait until i get my credit up? :(
Okay so what about if I bought a car at the dealership and want to refinance it with my car 7 days after I bought it. The car salesmen lied to me I had my own bank finance when I went in and the car salesman told me the bank wanted me to put 2500 down even though it said 0 down. So then he went on his computer and said Honda had a better offer he still kept pushing for me to give him 2500 down then he asked for 2100 then he asked for $700 and then he asked for $500 down as I kept saying no. Then because I felt pressured I told him the most I could give him is $275 down so he said Honda said yes and then he said my monthly payment was gonna be $721 but then he said let me see what I can do cause I told him that monthly was too high and then he said god really must love you because Honda lowered the monthly for $651.
But when I spoke to people around me like family and friends they said the salesmen basically screwed me over because if my bank had already approved me for $25000 and 0 down that the salesman saw it as a lose and so he lied that when he checked with chase bank that no matter what chase wants 2500 down. But the loan said 25000 and 0 down so it confused me.
Hi Rodney, I need your help! It's about my car!! How can I talk to you?
In his description he has a link to book phone consultations
Rodney…Question: Is it better to get a pre-Approval check/loan from your Bank prior to going to the Dealership?
Yes it is
My rate right now id 15.41% and the new bank is offering 6.99% ,total cost is 21500 and new one is 17689, monthly payments of 325 to 246 is this good
Why are u questioning this? Yeah it’s better than what u had
Hi Rodney , thanks for the information! When I got my first car, I had bad credit so my interest was high. My credit is really good now, I have not refinanced, I pay promptly never been late. Eventually I want to upgrade my car soon. My question is , will there be any effect if I refinance my current car and then upgrade. What do you recommend?
That's my question too.
@@smilinglynn9584 hopefully he responds. I can’t seem to find an answer anywhere. I want a new car ASAP 😩
@@erikaaleman5724 thats my question too
I refinanced my car already can I refinance for a second time?
Can I refinance 2 cars together to make one payment?
I just bought brand new car 2 months ago. I had 720 credit score and they gave me %11,9 APR. Rn I’m thinking refinancing. Is that possible to lower down my apr? My first financed car and I’m 20 yo.
yes it is possible and its a good idea. give it a try with a bank you deal with.
I can't believe that you went for that.
If you refinance your car can you sign it over to someone else?
co signer can also refinance the car to get rid of the of the main barrower correct me if I’m wrong.
correct
I need help!! i signed a bill of sale on Saturday but realized lots of info missing and incorrect too when i got home.went back today Monday to backoff but they insisted i cant and demanded for void check and insurance which I didn’t give.I told them ain’t picking the car tomorrow and i left.they have been calling me to come in and change to a different car at a good prize and have refused and they GM threatens to send the car to my house and says there will be more charged to it(threat)..so what can i do??reside in ontario
If you didnt take the car off the lot you dont own it. Leave it there. They can't do anything.
Do I refinance from the bank that loaned in the first place ?
No. Find a different bank or credit union
I got a car from the lot 5 months later transmission blows out
When is a good time to re finance my supra 2021? Or trade it in?
What was your interest rate
Sell and get something 2010-16 get out of the matrix.
Can I refinance to shorten my loan period from 72 to 60 months?
That’s what I wanna know.
@@mrs.elizabethdarcyladyofpe1288 *Update* I was able to refinance to a shorter term at a lower interest rate at my local credit union.
But doesn’t refinancing mean taking out another loan??
It’s another loan. But at a better rate.
hey so I have a question , I can't refinance if I have collections and inquires on my credit ? my credit has shot up I have 100% payment history but pnc recently jus denied me and I'm confused I've invested so much money into this car my apr rate is 24.90% at this point I think I'm just getting got ,please help me I just want to lower my car note before I move into my apartment I don't want to have to give the car back but its looking like that's the only option .
Hey are you a first time car buyer? If so that more than likely that they took advantage of what hidden info you may not have known up to this point.
Please please respond. Am judt about to sign a refinance papers with capital one switching from Santander usa bank. Am not very sure of what am doing. Please help thanks
Do anything to get away from Santander auto loans. Cap One is reputable
@@RodneySamuels thanks a lot. Let me call right now and finish up.
@@RodneySamuelsso please do you pay more or less to the lender if refinanced. From 24%to almost 12%.
I’m with Santander right now and I’m working on moving from them
If I’m the co-signer can I refinance the car using my credit??
That would basically mean you are buying the car. That probably defeats the purpose of you cosigning for that person to begin with.
Great tips! I really appreciate it. I married my husband because he only has eyes for me and he is a hard worker, he’s average looking.
But I was always afraid to use him as a co signer , because I would be stuck with him .
But now that I know I can re finance and he can go about minding his own business this info is a valuable asset!
Well I will be with him til death do us apart,
But if he ever commits adultery I will go about my business 👩🏻💼
Girlllll 😂😂 smart thinking though!
Wtf
Lmao, wow
What did I just read lmao
@@beanteam2217 lol I laughed to hard but same !
If i refinance with another company does it affect my lifetime warranty?
Ditch the warranty it's called a product
I need to refiance increase is killing me
Murda Mook giving car advice now?
Howww. Am I at like 2. Or 3% interest rate on my car. Note is still 471 a month.
Sorry you answered my question
How can I refinance with a bank with my choosing not the one I got from dealer ship cuz they got me on apr by lot’s
just shop around at different banks
Amazing video ! Just one question, I know it would obviously help, but is it required to have a down payment when refinancing?
not all the time. the lender would tell you if necessary
Hi, do I have to do the refinance with the same company? Or I apply separate I’m a little confused but i want to refinance
no it doesn’t have to be the same company. It’s always better to go to a credit union to refinance since they’ll give you better rates
👏👏👏👏👏
If you need a 5 year car note, you can't afford the car.