22% interest on car loan

[Petunia 100]

Reported you, davidale96. Just letting you know.

[johnd393]

You friend will not have the car long enough to refinance it. It will be repossessed in a few months.

[Jlong2315]

Originally Posted by darrell2525

Hello,

Currently, my friend don't have car and need to get one. and have bad credit, dealership offering him 22% interest rate for 6 years on a used car cost $17k.

After two years of payments on time can he refinanced for a cheaper interest and lower loan term (maybe 2-3 years).

Thanks,

since someone else brought this back up. Please let us know how it worked out for your friend. Did he get the car? Did he refinance 2 years later?

[galaxyhi]

Originally Posted by Jlong2315

since someone else brought this back up. Please let us know how it worked out for your friend. Did he get the car? Did he refinance 2 years later?

Yeah.

This is an old thread, would be nice for an update.

But alas, i dont think we'll get one.