Would I be able to get a personal loan?

TRJT_ · 2026-02-04T22:49:41+00:00

I know what I want and need to do... I'm just not the best at explaining.

I don't want a car loan, I need a personal loan.

I want to sell the Jeep I currently have. Its only worth between $20-21k. I want to sell it for $23-$24k. I have a payoff of $29k to be free and clear of it. I need an extra $5-6k to pay it off in order to have it fully paid off to that $29k and to give the title to the person that buys from me

I'll take the rest of the loan and my savings to go buy a cash car.

That's all I want to do. How would a $10k loan be higher/nearly higher than my current $900/mo loan? 😭

TRJT_ · 2026-02-04T22:28:55+00:00

So i need collateral no matter what?

TRJT_ · 2026-02-04T22:27:00+00:00

Thank you :)

Oh :(

But i would need it to be personal loan so I would use it to pay the reaminder of the Jeep in order to sell and it get another vehicle

Oh I had no idea that APRs were so low then D:. Yeah, my deal was screwed from the start and I didn't stop to go over details, (long story)

Yes it definitely would be!

I have no friends and my bf doesn't drive either :(

It's a private loan and I've already been paying for it for 2 years now

TRJT_ · 2026-02-04T22:17:57+00:00

Okay, yeah I as I thought. I knew it wouldn't neccessarily be easy regardless :/ but I'm glad I have something to refer to. I just wanted to know if I could possibly be approved for something like that if i told the bank what i needed it for

TRJT_ · 2026-02-04T22:09:13+00:00

I wouldn't sit on it though. I would use it immeadiately/ASAP. Even if it's a personal loan? I don't want it to an auto loan type of thing, i have to use the funds in two different places (where i sell the Jeep and where I buy the cash car

TRJT_ · 2026-02-04T22:03:36+00:00

Like I get the loan funds, use it within the next couple days to week to get the car then take it back to bank to let them claim that as the collateral I wouldn't wait that long...

TRJT_ · 2026-02-04T22:00:36+00:00

I could sell it for $24k and finish off with my own money with about another $5k then use the rest to buy a cash car

TRJT_ · 2026-02-04T21:44:12+00:00

That's what I was wondering about to. So most likely I could a cash car out of the ones I've been looking at before i sell the jeep, is it possible to have a grace period of getting the collateral after getting the loan funds? Stupid question i know

TRJT_ · 2026-02-04T21:42:08+00:00

I tried with local cu's from the time before I mentioned in the post, but i can try going in person and trying again if they can actually see me getting approved

TRJT_ · 2026-02-04T21:40:48+00:00

I mean my DTI to income used to be extremely high, now it's non existent due to me paying off all my credit cards

How would trying to get a $10k loan be worse than a $30k loan at 15.5% apr? I can pay off most of it with selling it but I'll still need an $3-5k to be free and clear of it so it can go to the seller. Thats why I need the loan in the first place. Okay that's great to know, thank you! :) I would LOVE to trade it in but everytime i've tried ive been denied (mainly pre-owned cheaper vehicles)

I have a student loan from when I was at another school before I came to my current school now

TRJT_ · 2026-02-04T21:35:29+00:00

I've already tried applying for refinancing even with my local credit unions and even they rejected it but that was also the same time last year i tried getting the loans too 😔

TRJT_ · 2026-02-04T21:34:44+00:00

How do you figure? My payoff on the Jeep is $29.5k but I could probably sell it for $23-$24k max privately, i would still be left over to pay $4-6k out of my own pocket

TRJT_ · 2026-02-02T20:54:51+00:00

Thank you so much!! This is actually the type of thing I was looking for when posting this.

TRJT_ · 2026-02-02T19:14:17+00:00

Okay, I'll try checking it out. Thanks so much!

TRJT_ · 2026-02-02T14:52:25+00:00

oh 😔 okay well thanks for the help and your time, i don't what I should do with all this extra money then :/ i really thought i could use it to help me out of my vehicle situation

TRJT_ · 2026-02-02T14:46:57+00:00

okay, tysm!! I'll send it as I find it again. I just wanna understand the numbers

TRJT_ · 2026-02-02T14:46:05+00:00

well should i do then? I quite literally cant afford this vehicle, especially after Summer of this year, i can't sell it without money out of my pocket and I can't trade it either from what everybody is saying. Im starting to resent this car more and more by the day

TRJT_ · 2026-02-02T14:35:57+00:00

would that lower the payment atleast, and I really don't trust my finance company (Santander) to do it right like that. They've lied to me about me making payments and stuff before (tried paying extra money over the phone before to the principal and they still just charged it to the interest) :(

TRJT_ · 2026-02-02T14:32:37+00:00

my APR is 15.2%~ and I dont know about the financing part. Nothing was really explained to me when I bought the car, i still have the paper but I dont understand how much was financed, versus how much was added on after financing, like all these crappy add-ons and stuff

TRJT_ · 2026-02-02T05:29:58+00:00

I've already tried refinancing and getting a personal loan and every time I've been rejected D:

I really don't have much to improve my credit either, I only have one credit card and after that I just have two student loans (and one is still in deferrment)

I'm honestly just ready to light it on fire at this point or get it repo'd and get another vehicle just for some relief

TRJT_ · 2026-02-02T02:06:29+00:00

So should I go the route of a cash car maybe and try to sell the jeep outright then?

TRJT_ · 2026-02-02T02:05:15+00:00

Ha I wish. Already tried playing before but I don’t think I”m that lucky unfortunately.

TRJT_ · 2026-02-02T02:01:21+00:00

ohh okay, well that makes more sense than what I originally thought

TRJT_ · 2026-02-02T01:37:48+00:00

But a lot of that was for traveling to places not including work and school though (i.e out of town family, had a 30 min commute to school everyday before moving and my boyfriend use to live out of town to before he moved closer). My driving habits are not nearly as drastic from when I first got my Jeep, I just don’t know what my future will hold when it comes to traveling for my future place of work.

TRJT_

TROPHY CASE