Debt Consolidation Loans
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Auto debt consolidation loans |
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See footnote 2 below.
Are auto debt consolidation loans for me?
Auto debt consolidation loans could help you manage finances using your vehicle as collateral.
How? By combining (consolidating) more than one loan into a larger personal debt consolidation loan.
Auto debt consolidation loans could mean
- Lower monthly payments
When combining other credit accounts into an auto debt consolidation loan, the monthly car payment may decrease.
Calculate your new estimated auto debt consolidation loan payment.
- Streamlined monthly expenses
With personal debt consolidation loans, borrowers can restructure their credit accounts for fewer bills to manage each month.1
- Lower APR
Using an auto for debt consolidation loans may mean paying less overall interest if the new auto loan carries a lower APR.
- Additional cash
Borrowers could receive cash out if the lender approves auto debt consolidation loans for more than a vehicle's current value.
What if I have bad credit?
If you have a few blemishes on your credit report, that doesn't mean you have bad credit. It also doesn't mean debt consolidation loans aren't for you. Some lenders, including Wells Fargo, offer several debt consolidation options, even for those who may have missed a payment or two along the way.
Who should apply for debt consolidation loans?
Consider using your vehicle for auto debt consolidation loans if:
- You want to lower your monthly auto payment or rate
- Your credit score has improved since originally financing your vehicle
- Your expenses have risen
- You don't own your home
Applying for auto personal debt consolidation loans
Using your vehicle for debt consolidation loans is easy. Simply call 1-866-452-3413 or apply for a debt consolidation loan online.
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1 Wells Fargo Auto Finance does not make loans for educational purposes. Please call Wells Fargo Education Financial Services at 1-800-658-3567 if any portion of the proceeds is to be used for educational purposes, or to refinance/consolidate any loan you incurred for such purposes.
2Wells Fargo auto bill consolidation terms. Auto loan balance = $18,000. 12.9% APR. 60 month term. This is only an example of how relying on a vehicle to consolidate bills could help reduce monthly payment.
