I'm new here and just had question....
I just recently started to care alot about my credit score as I want to buy a house in about 4 - 5 years.
My question now is I purchased my Car not even a month ago maybe 3.5 weeks and the dealer gave me a rate of 2.99%
But my bank (US BANK) offered me 1.97.%
I guess my question is if I refiance so early isnt my credit score going to get hit again and go down even more?
I am fiancing 22,000 / 60 Months (maybe 48 Months)
I did the math and I am obviously saving more on the interest but I'm more worried about the credit score than anything. any advice will be appreciated. Thanks!!!
Sorry if someone already asked this question.... I didn't see it on the forums.....
If your timeline for buying a house is 4-5 years, then you don't have much to worry about for this.
Your score will only be effected for a short time.
I would say go ahead and save the 1%.
Although, now you have a used car not a new car. US Bank may not approve at the rate you think.