Navigation
Search
Friends

Cut, cap and balance your own budget Fox Business

02.08.11

While your individual credit card debt will never approach the trillions of dollars of debt the U.S. government has incurred, no matter how big or small your credit card balance is you probably want to eliminate it. There are a variety of available approaches to eliminating your personal deficit. Each one requires you to take steps to spend less money and to apply the savings to your credit card payments.

The U.S. House's "cut, cap and balance" prescription for the federal budget requires:

Spending cuts to reduce the deficit Spending caps that are meant to keep the government on the path to a balanced budget A balanced budget amendment to the U.S. Constitution

Luckily, you don't have to depend on Congress and the executive branch to agree on changes to your own personal financial plan. You can start working your way toward a balanced budget without amending anything other than your spending and saving pattern.

Cut

Begin

Source:

Refinance Help. Fill this form and get help!

Refinance Auto Loan

autorefinancingwithbadcredit.c om Refinance Auto Loan ,Auto,Car,Autos,Cars,Loan,Loan s,Credit,Finance,refinance,re- rinance,hire purchase,lease,leasing

Would you refinance or lease a new car for less?

Apr 25, 2007 by Javier D | Posted in Buying & Selling

Hello all, I have an 06 accord that I financed when my credit was fair. Now my credit has improved pretty well and I was thinking of refinancing, I'm at 11.9%. I also was thinking of trading it in for a bigger vehicle like the crv or Pilot. One issue is thatI'm upside down on the loan because most of the payment is sucked up by interest. I like getting new cars every once in a while, so lease would not be a bad idea since every 3 years you hand it over, as for miles I will take the 20jk a year plan.

Payment would be less too. Whatdo u guys think?

You need to work off some your negative equity. It will only get worse by trading every year.

Bill in Kansas | Apr 25, 2007

can i refinance purchase my lease car?and does my payment for lease deducted to the purchase price??

Jun 24, 2007 by pare15 | Posted in Buying & Selling


The only way to 'refinance' would be to call the lender and ask for a customer buyout amount and then get a loan against that amount. It would no longer be a lease, it would be a used car purchase.

Not all lenders let customers out of leases, National City for instance makes lessee's keep the cars until the last payment is made.

Your monthly lease payments will not be deducted from the purchase price. I hope this helps!

The Auto Evaluator™ | Jun 27, 2007

Where can I go to refinance my car that I have for only a year and half?

Oct 19, 2008 by Jewel | Posted in Buying & Selling

I want to lower my payments.
My credit is so so....
I'm debating whether should I lease a car or and turn in the car that I have which is an 07' accord....for like a really cheap new car like i.e. toyota yaris....

Thanks....

Question: are you refinancing a car you've owned for a year and a half, or you have 1.5 years to go on the loan? I am assuming you own your car, not leasing it.

Refinancing your car can lower your payments, yes. But it depends on your financial background and a few other things like the amount of the loan, the value of your car, etc.

In my opinion, you should stay with the 07 Accord which is a great car and pay it off. That is one that will last you a long time, so the investment is well worth the effort.

If you have any other ?s feel free to contact me!

Kate | Oct 20, 2008

Purchase/Refinance of a leased car?

Feb 07, 2008 by jt1668 | Posted in Buying & Selling

My lease comes due this week and I am confused. I want to purchase the car now. Do I have to put a new downpayment for my leased car or can they do it without a downpayment since I been paying fine for the last 4 years? My credit is not really that great. Thanks.
Due to circumstances beyond my control, I have been unable to keep up with my other bills as much as I would like and my credit suffered. But I continue to pay my car and rent on time.

How could your credit be bad if you've been paying it fine for 4 years? Basically, you are applying for a loan. The better the credit, the better your chances of not having to put a downpayment.

blackcobra487 | Feb 07, 2008

can you refinance a leased car to achieve liwer monthly payment?

Mar 28, 2006 by snappy | Posted in Credit


Yes you can refinance a leased car, but your refinance amount will be the total of your payments left on the lease plus the "residual" (the buyout amount specified in your lease contract) so if you have more than a couple of months left on a lease it usually doesn't make sense to refinance.

Good Luck

Credit Guru | Mar 29, 2006

No you cant refinance a leased car because u dont own it.
Ty | Mar 28, 2006

When you lease a car and the time is up and want to keep the car, does the payment just continue?

Oct 21, 2008 by J98 | Posted in Buying & Selling

Or do you have to refinance on the balance amount? I am trying to see if I want to keep my car if I can just continue the payments I have now, or do I have to do another contract? Thx!

No, generally the payment does not just continue....nor should you want it to. You would probably finance the current value at a lower payment since the car's value depreciates the most over the first couple of years.

Mark H | Oct 21, 2008

If you want to keep the car, you need to call the bank and let them know you plan on buying out the car and arrange for financing if you need it.
Once a lease contract ends, you have to either do that or return the car.
ridewithgdotcom | Oct 21, 2008

The balance due at buyout time must be financed. Most likely the payments will be much less than your lease payments. The dealer can arrange that for you.
Jimmy d. - Floridian~`` | Oct 21, 2008

you have to finance the balance and you own the car
p-rank | Oct 21, 2008

By now you have probably received notices in the mail from the lessor about what to do. If you have some sort of "special" program car, like a hydrogen Honda or something, then you don't get to keep the car. However, that's unlikely. The lender will send you a notice letting you know how much your "residual value" is on the vehicle. Depending on the car, they will probably then send you a note letting you know that you might be "eligible to purchase" the vehicle for less than the residual value. This is especially true with SUV's and trucks that have taken a huge hit on the wholesale market.
You can just negotiate this right on down... if you have a reasonably good payment history with the current lender, then they will likely finance a LOWER, agreed-upon amount for you. If you want a good STARTING point for negotiating the value of your vehicle, then look at TRADE-IN value at www.kbb.com. That's about what dealers are paying for vehicles like yours at auction - which is what your lender can reasonably expect to get if you turn in your vehicle.
John H | Oct 21, 2008

The car is not yours in actuality. The lender actually bought it from the Dealer and leased it to you. It is actually titled in in their name with you as a leasee or borrower. You will have to get the "residual value) and you will have to pay that price for it along with taxes and fees associated with that amount....you did not actually pay taxes on the original lease, the lender remember bought it and they paid the sales tax not you.....from a coaching stand point, you would really be stupid to purchase it for this amount. Usually this amount is equal to the retail price of that car in its present condition.....you would be better serve to find one like it and negotiate a better price. The lessor(lender) will not negotiate on this figure either....you have to refinance it. Under certain circumstances, there might be some markup of the sale price as well.....chalk it up, go get another one brand new or a used one for a lot less!
Mickey Mantle | Oct 21, 2008

Can i refinance the remaining balance on a car owned by someone else?

Sep 05, 2008 by m1stagangbang | Posted in Personal Finance

My cousin paid a yr in advance so she could end her lease. I was wondering if it was possible that i could refinance the remaining balance owed on the car under my name. As well as that i have a car with $8500 left to be paid on it that i want to trade-in. Right now the trade in value is $14000 and the private resale was $16000 i know i probably wont get that but im just wondering how it would all work and could it be done

I would say you can't borrow money using the title of the car as a lein because you don't own the car. You would have to get a personal or signiture loan, but usually the rates are not great. Or you could get a home equity loan and use it for the cars.

Word Nerd and his accordion | Sep 05, 2008

I think you left some details out. But I'll do my best. If your cousin has the car with a balance its still her car. You can get a loan to payoff the car. If you plan on using the car to secure the loan then you may have to go to the dealer and work something out with them. Most banks wont release money until theres a clear title and most bank wont release the title until theres money. See the problem? If you can secure the loan on your own without using the car then its just a matter of paying the car off and switching over the title. Your leasing agent should be able to give you a payoff amount on the lease. I hope this helps. Good luck.
mandktrucking | Sep 05, 2008

1. If your car has a private resale value of $16,000, you SHOULD be able to sell it for $16,000. That is literally the definition of private resale value. To sell to an individual while you still own, you will need to provide a contract stating you are selling the car for x amount and the title will be delivered within y days. You then use the payment they give you at the time of sale to pay off the loan and instruct the bank to send the title to the buyer. If you plan ahead, you can probably arraign for the buyer to meat you at the bank, and the bank to have the title waiting. Then you can handle everything at once.
2. As for refinancing your cousin's car in your name, unless they sign the title over to you, you can't get a CAR loan to do this. In any case, DO NOT get a dealer involved. They will simply charge you to do the SAME paperwork the bank is actually doing whenever they issue a loan or accept a payoff.
STEVEN F | Sep 05, 2008

Paying for miles when buying my lease car?

Jan 11, 2009 by AJ | Posted in Buying & Selling

In 2 years im anticipating that i will refinance my remaining balloon payment. If i do this will i have to pay for any miles that exceeded my lease agreement??

I bought car while i was working in US(financed), is it possible to transfer my lease to canada?and register?

Mar 12, 2008 by Dolly D | Posted in Buying & Selling

my car in Ontario?since i moved to toronto permenatly last week,so my car is parked in garage with us plates, i can't pay cash to toyota since it has almost 14k$ remaining, i need to know if canadian dealers can refinance us car here so i can register the vehicle here and able to drive.

you will have a HUGE problem... my advice is to find a way soemone can buy out the remaining lease...

1) US and canadian cars have different emission laws..

2) US uses miles... correct me if im worng but do canadian cars use miles? In order to have it inspected they must jive...

3) A Toyota that is leased or financed MUST be registered in the US until the financed time or term is over ... reason is Toyota corp has very strick exporting laws ( thats what your kinda doing )

4) Call 1800-331-4331Thats the number for toyota corp. they will be able to help and give you a better answer than I can ...

Good Luck!

l_chirichella | Mar 12, 2008

How would I get insurance on a car being leased in someone else's name?

Jun 17, 2008 by gumby579 | Posted in Insurance & Registration

My sister and brother in law have the car financed at a bank in a small town. They gave the car to me as long as I made the payments on the car. We don't intend to refinance the car into my name, however how would I be able to obtain auto insurance if my name is not on the original title?

In order to get an insurance policy in YOUR name the car MUST be in YOUR NAME.

MOST insurance companies would like a proof of purchase (pink slip, registration, title) upon the beginning of the policy to be SURE that you are the person that owns the car.

IF you do NOT own the car, you still have options! The policy will have to be in the name of the person or people who technically own the car, BUT you should be listed and RATED as the primary operator of the vehicle since it sounds like you drive it.

Hopefully this was helpful!! :-)

foxychick24 | Jun 17, 2008