Q&A: How do I get out of my 20% APR? Where can I refinance my vehicle with poor credit?

Question by Kelle: How do I get out of my 20% APR? Where can I refinance my vehicle with poor credit?
My boyfriend was forced to use Drive Time because of his poor credit, he is now stuck in a 20% APR, paying $ 200.00 every 2 weeks. On a 2003, bottom of the line F150. We are desperately searching for what measures we can take to get him refinanced? His bank has already turned him down, and Drive Time will not work with him. Is a self reposession our only option?

Best answer:

Answer by erin o
If he still has poor credit then it’s doubtful that you’ll find anyone willing to give you a loan with a lower interest rate. You can sell the car and buy one that it much cheaper.

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