Ive got a loan secured on my car how can i get the payments lowered?

iv asked the campany but they say they carnt because iv signed an agreement but iv just reciently lost my job but i dont want to loose my car if i canot meet the payments im willing to pay but a smaller amount.
Try another loan company. Get the total amount of existing loan paid off then payback to the new company at their lower rate. Do not borrow more than your existing loan simply get a loan spread over a longer period with a lower interest rate. Check out as many as possible and sign nothing until you are confident.
I suspect not unfortunately. The fact that you signed an agreemant doesn't give you much leverage to work with. What you could do is address a letter to a manager of the finance company outlining the current state of play and your request for a temporary reduction in payments. If you have made payments on time in the past then you never know - they may just be able to help. For the sake of a letter it's worth a go
Good luck.
The only way to reduce your monthly payments is to refinance your loan with another lender either for a longer period of time or a lower interest rate.

This is going to be next to impossible while you are unemployed.

So the only other option you have is to try and work something out with your current lender.

Good luck.

The Secured Loan information post by website user , LoanSecuredLoan.com not guarantee correctness.


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