Personal loan and refinances to lower payments/apr's.
Good evening everybody.
Would it be possible to get a personal loan from a different bank than the one I'm currently using to move all of my finances to that bank?
My example, I would take the money from the personal loan to put down on a vehicle loan, pay off existing personal loan, a refinance of a snowmobile loan, paying off a remaining balance on a trailer and a credit card through the same bank. So it would be moving loans from 3 separate banks into one. The APR would be better on the personal loan than the one it currently has a this new bank. The vehicle APR would be lower at the new bank. Snowmobile, same thing. All of which would lower my monthly payments by quite a large margin, and the money saved could be put back into the personal loan to pay it off much quicker, saving more money from interest.
I'm not sure If this makes sense, but somehow it does in my head and would love to see if somebody could help me out!
Thank you and have a great evening!