I GOT A AUTO LOAN IN 2011 FOR 12.9% apr (OUCH)! FOR A 2007 TOYOTA CAMRY LE FOR 18,0000 I KNOW THEY GOT ME. RIGHT KNOW I AM TRYING TO REFINANCE MY AUTO LOAN AND I WHAT TO KNOW WHAT ARE MY CHANCES OF GETTING APPROVE? I HAVE BEEN GETTING PRE-APPROVAL AND PRESELECTED AUTO LOAN/REFINANCE PREAPPROVALS LETTERS IN THE MAIL BUT IDONT WANT TO APPLY FOR ANYTHING KNOWING I MAY GET DENIED BECAUSE I AM UPSIDE DOWN. THE VEHICLE IS WORTH ANYWHERE BETWEEN 7,000- 9,000 AND I STILL OWE 13,000 ON THE LOAN. MY CREDIT SCORES ARE TU 730 EQ 689 EX 746. I ALSO HAVE BEEN ON A APP SPREE RECENTLY. I HAVE 5 NEW ACCOUNTS WITH ABOUT 8 INQ ON ALL THREE. I HAVE ABOUT 3 YEARS OF CREDIT HISTORY WITH 2 60DAYS LATE ON A STUDENT LOAN. NO COLLECTIONS ON REPORT.
MY QUESTION IS WHAT ARE MY CHANCES OF BEING APPROVE IF I APPLY FOR AN AUTO REFINANCE IF I AM UPSIDE ROUGHLY 5000 KNOWING I HAVE BEEN GETTING REFINANCE PRE-APPROVALS IN THE MAIL?
AM I BETTER OFF PAYING FOR THE NEGATIVE EQUILITY AND GETTING A NEW CAR LOAN? KNOWING I DO WANT TO GET A FAMILY VAN OR SUV
CURRENT: TU 751 EQ 707 EX 746
GOAL: 800 ON ALL 3
