@Anonymous wrote:
Hi, I could use some advice! I'm 3 years post Ch7 and I currently have 2 years left on my car loan at 14% with a payment that is killing my budget. I'm stuck between trying to refi at a lower rate and adding a year to lower my monthly payment -or- buying a new or newer pre-owned vehicle with a lower interest rate. I've got 65k on my car and will be near 100k in 2 years when the loan is paid. I wouldn't be upside down on the refi or trade in soon. Current auto scores are just below 700. I have a few CC balances that I'm working on paying off. Any suggestions would be appreciated!
Are you looking at going through a CU for the auto loan? We all know that going through the dealer can lead to too many new INQs. If it were me, I would opt to purchase a new car as long as it is in your budget, because regardless to whatever option you choose, the old tradeline will be closed out, and a new one opened.
