(Closed) Refinancing your Car

posted 6 years ago in Money
Post # 3
1137 posts
Bumble bee
  • Wedding: September 2010

I would start at your local credit union. They usually have better rates that banks. I would also go to annualcreditreport.com and pull your free credit report. You may want to pay the extra $5 for your score. Then look up your score online to see where your score falls. I believe 720+ is excellent credit and you will get the best rates. Also, use that report to see about any fraudulent or blemishes to your credit report and clear them up ASAP before you try to refinance.

Post # 5
656 posts
Busy bee
  • Wedding: March 2011

Hi Kate – I work in a dealership. Anything you can do to help your credit score is great – use your credit card and pay it off immediately. Pay rent/mortgage on time. If you can pay more than your minimum payment on your car per month, do it. If you can save up a little money to put down when you refinance, do it. Depending on how low your score is and how long you’ve had the vehicle, I would wait 8-12 months before refinancing. That way you prove that you can pay the bill to your lender, but refinance it with a significant change.

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