Consolidating car loan into home loan what are the biblical guidelines for dating relationships
A consolidation loan is a big commitment, and a financial institution is unlikely to grant it unless you can prove that you're good for the monthly consolidation payments.
Overall, you should only consider debt consolidation if your credit rating is in relatively good shape and you have no trouble paying off your existing loans.
Like most consumers, you're probably paying off a few other debts in addition to your car loan.
Mortgage payments, credit card bills, boat payments -- if only there was a way to tie all these debts together into one, easy, monthly payment.
Your auto loan lenders may be more than willing to ignore the occasional late payment or negotiate an alternative payment schedule if you hit hard times.
A bank, on the other hand, might be more prone to send in the debt collectors.