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While Refinancing a Car Loan with Bad Credit, Can You Cancel the Process?
While refinancing a car loan with bad credit may seem to be a process that must be carried to the end, you can stop the process whenever you want to do so. However, you still have the situation that precipitated your request in the first place. It may be that you have lost your job or your spouse may have lost the second job that was paying for the vehicle. If you decide to halt the process, work with your bank or loan officer to find a solution to your problem. Perhaps the bank has a buyer looking for a vehicle that is like yours. This buyer may be willing to take the vehicle off your hands for the remainder of your loan. Be sure there are no penalties that result from your attempted refinance.
For more info, see How to Cancel a Car Loan
