Is it time to Refinance?

[p-]

^ it's almost universally a linear 100 points.  It stands to reason that you might be able to raise your score 80 points by paying down your cards.

[Anonymous]

At that interest rate there is no way I would wait one day longer to try and refinance. Your car is losing value each day and most of your payment is going to interest.

NFCU is a good place to start. They use your mortgage scores and I saw in another thread, yours aren't horrid. Maybe not the best rate but they should get you less than 15%.

Even if you don't get an optimum rate now, you can refinance again. There's no limit to how many times. I went from my CU at 6.10% to PenFed at 4.10% and now I'm looking at DCU to try and get it even lower.

Cap1 was good to me on a refinance a while ago too. Good place to check too.

15% is just too ridiculous to wait in my opinion.

[Studio90x]

I recently bought a new 2016 Altima SR w/ appearance package and traded in my upside down 2012 Altima SR. Score was 650s when I went to dealership for the car, NMAC was the only one who would approve me with no money down but at 11.89% for 72 mos at $609/mo (Crazy to have accepted it but I did). Felt I was taken for a fool as my scores should have qualified me for better rates so I went looking for refinancing that same week.

Few days later, coworker recommended her CFE credit union in Central Florida, and was able to refinance my brand new car at 6.75% for 84 mos ($482/mo) or 2.49% at 51 mos ($645/mo). Chose the 84 mos option as I didn't want over a $600/mo payment. I plan to pay down as much as I can for 1 year and see about requesting a lower rate/refinancing it again.

Definitely check out other credit unions even if you're not a member. I wasn't a member of CFE CU when I applied and got approved.

[RonM21]

Checking out NFCU would be a good idea as others mentioned already. Or at least someone similar. The idea of getting your scores up a bit first makes sense, but you are losing value each day. That will be something you have to way out.