Consolidating 2 auto loans

You have the option to select the servicer of your choice (of which, Nelnet is an option) After your new Direct Consolidation Loan is complete, you may still add more eligible loans to your existing consolidation.If you would like to add other eligible loans, your servicer must receive your Request to Add Loans Form within 180 days from the date your Direct Consolidation Loan is completed (originated).Combining car loans can be a practical option gives you a new single loan from one lender.Contact your current lenders to get the payoff amounts.

For example, say you have three credit cards and decide to use debt consolidation to combine all three into one larger consolidation loan.When you apply for a loan, take your last two pay stubs, tax returns for the past two years, your driver’s license and a couple of recent utility bills to prove where you live.You will also need to give the account numbers for your current car loans and show proof that the cars are insured.Talk to different lenders about interest rates and loan terms.You can try your current lender, but not all companies might be open to refinancing their own car loans.

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