Best lender for redemption?

[BillyRip]

I'd like to try to refi my current vehicle before dumping it for a new/newer car. Can anyone recommend a lender or two to apply at?

The only loan I have now is a mtg payment of $805 and I gross $5450 a month. I am a couple months post discharge.

Your help is always appreciated! Thank you!

[justbroke]

I don't really know, but there is USBank (722 Redemption), which seems to be the predominant force in this market.

[BillyRip]

I don't really know, but there is USBank (722 Redemption), which seems to be the predominant force in this market.

Thanks again JB!

[aces67]

There are certain states that redemption lenders are not licensed in. You need to call first and see if you're state is one of them.

We are in TX and have yet to find a redemption program that's licensed here.

[BassBoy]

722 Redemption is a veryy high rate..........like 24%. IMO, there are many other lenders that may be able to help you refi. Keep in mind with the current credit crunch, lenders may not lend, especially if the current loan exceeds the value. You could try a credit union. They look at the big picture when it comes to approving loans.

[majicman50]

I don't really know, but there is USBank (722 Redemption), which seems to be the predominant force in this market.

The redemption loan 722 offered me was worse than the terms I already have. More $ for more months.

[justbroke]

The redemption loan 722 offered me was worse than the terms I already have. More $ for more months.

Yep, that happens. That's why you need to evaluate whether it's better or not. It doesn't work well (722 Redemption that is), unless you are significantly underwater on the vehicle.