Does anyone know a bank that will refinance 2001 Toyota Highlander?

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ylvu28

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I have a 2001 Toyota Highlander that I would like to refinance. When I bought it I was at the tail end of filing my bankruptcy so got a horrible 17% APR. It's almost two years now since my bankruptcy has been finalized and my credit score is now 670/680. Does anyone know a bank that will approve car refinancing for people in my situation? Thanks a bunch!!!
 
I don't know if they will with the bankruptcy on your credit score but it's worth it to try. The year of car and what you owe are also huge factors. No one on here will be able to tell you if the bank will refinance or not but go for it.
 
A bankruptcy stays on your credit report for seven years. If you are past those seven years, then you should have no problems, assuming your income and debts are no problem. Actually, many lenders now want to see at least a 700 score, but if you shop around you should be able to find one that will accept your 670, although the interest rate might be a little higher than normal -- 10%-12%.

Another potential probem: If you are upside down (owe more than your car is worth), lenders won't refinance you for the amount you still owe, which means you would have to come up with cash to make up the difference.
 
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