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How to get out of a Credit Acceptance car loan
I financed a car through Credit Acceptance back when my credit score was, to put it lightly, less than ideal. Now I am stuck with fairly high payments and what I think is an insanely high-interest rate considering my credit score has improved. I need to know how to get out of a Credit Acceptance car loan, please!
Michael Miserendino · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Thankfully, you have a few options at your disposal. Your first choice is highly dependant on your outstanding loan balance, but you can consider
selling your current car
and use the money to pay off the remaining balance. Then you can go out and finance another car–ideally at a much lower interest rate than before!If you’ve grown quite fond of your car and are tearing up at the thought of parting ways, there’s still hope for you. You can consider
refinancing
with a new lender who will likely give you a much better rate if your score has improved from before.If you want help shopping for the lowest refinancing rates, try
Jerry
. With Jerry, you can compare quotes from multiple lenders without worrying about your credit history. Avoid the hassle of researching and sending documents to potential lenders. Jerry’s app instantly connects you with top companies and takes into account your specific financial needs to find a loan that best meets those needs.View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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