I just bought a used car (2006) with 10.9% interest. I cannot seem to get a better rate. Why can't I just take out a loan for the amount and pay the car off with probably a lot lower rate? My credit is good/fair. Makes sense to just borrow the money on a personal loan and pay it back with lower payments/interests.
If you can borrow at a lower rate to pay off the car, go for it. Nothing says you can't.
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If you can borrow at a lower rate to pay off the car, go for it. Nothing says you can't.
