Can I refinance my auto loan? Help me please!

[Annjilique]

i got my car in March of last year. I previously had one of those buy here pay here cars at 24%!!!! They never reported of course. So my loan is the only loan on my credit. My April for this car is 18%. My score hasn't improved a great deal. Maybe a 600 now. It was at 570 when I got the car in March. I added  2 credit cards since my car loan. My utilization is low and can be lowered. I've never missed a payment on the car loan or the credit cards. I'm receiving pre approved offers in the mail. I'm just not sure how to go about refinancincing.  My main goal is to lower my interest rate even if it's only by 8% and lower my monthly payment but still pay around what I'm paying now to pay off the car early. Help please!

[dabrian]

With that score you must have some negatives that last are keeping your score low, unless your scores improve it will be hard to refi.

[notfancy]

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@Annjilique wrote:

i got my car in March of last year. I previously had one of those buy here pay here cars at 24%!!!! They never reported of course. So my loan is the only loan on my credit. My April for this car is 18%. My score hasn't improved a great deal. Maybe a 600 now. It was at 570 when I got the car in March. I added  2 credit cards since my car loan. My utilization is low and can be lowered. I've never missed a payment on the car loan or the credit cards. I'm receiving pre approved offers in the mail. I'm just not sure how to go about refinancincing.  My main goal is to lower my interest rate even if it's only by 8% and lower my monthly payment but still pay around what I'm paying now to pay off the car early. Help please!

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Go to a local credit union. They tend to offer the best rates and be the easiest to work with. You may need to explain why your score is so low, but you still might be able to find someone to help you out. If any of your collections are recent (with in the last 2 years) it might be harder, but you won't know until you talk to someone.

[Remember0]

Is that your recent credit score? Or are you guessing? It'd really help if you could pull your score from one of the bureaus (preferably EQ) from this site if that is not a recent score.

Anyways with a 600, I'd look to trying CapOne or Roadloans for a refi. Or perhaps even LendingTree. But tell me the answers to these questions first before applying.

Gross Income?
Any other credit reporting good history (like credit cards, etc)? Or is this your only active account on your credit?

NADA Clean Retail Value of Car?

Current balance owed on your car loan?

Who's the loan currently with?