Consider this when comparing

Consolidating 2 auto loans

Find out Your Credit History It is always important to know where you stand with your credit rating. If this is the case, term length will probably not be as much of a factor for you. However, with longer-term credit from home-equity, a borrower will often find more favorable lending environments, and a greater ability to pay off the debt on his or her own terms. See this for what it is, and not as something you can rely on for long-term car loan consolidation or other debt consolidation.

Easier debt tracking

Advantages Consolidating your loans is a great way to both lower your interest rates and make paying bills as convenient as possible. Your driver's license is usually sufficient. Car loan consolidation buys time - A borrower who is sweating large monthly payments can use a car loan consolidation to string out payment over a longer term. Compare Fees Compare startup fees, penalty fees and any additional fees for the consolidated loan.

Easier debt tracking - Consolidation makes it easier to keep track of what is owed every month, and pay it on time. Without good credit, you may still be able to consolidate, but don't expect great deals on the interest rates. Consolidated loans often have benefits that may elevate one loan over another. They know you, and will most likely work to keep or expand their business dealings with you. Converting everything to dollars instead of percentages will make further comparisons easier.

Be careful with these kinds of situations, as longer-term loans mean more interest in the end. This option will not be available for everyone. You want to find a lower interest rate.

Here are some of the potential pitfalls of a car loan consolidation. You will also need a form of identification. The downside is that the house becomes vulnerable in nonpayment situations.

Without good credit you