I have an extreme sub-prime auto loan (never been late) that is due to be paid in 18 months. I am ill of having paid such high interest DAILY (didn't read it at the time) but I was thankful to get the loan.
If my scores are 558, 558 & TU is 629; yes FAKO; and I have a CAP 1 good history account, do you think it's worth it to try to get a refi? I'd save myself $1800 in interest roughly but I've already paid $5000 in interest - yep - this car cost TWICE what it was worth if I go the whole time.
AND, who do they pull for this? I see them pulling my credit every month, varies from one report to the next. OR, would it be a "soft" pull so it wouldn't matter??
I used to work for Cap1 auto, and I'm not sure that you could get a good rate. I saw them as high as 24%. It'll be a hard pull - and don't let anyone tell you that Cap1 refi's their own loans. THEY DON'T!
" I like to live as a poor man, with a lot of money." - Pablo Picasso (who was a jerk.)
I sincerely appreciate the info on the CAP 1 - don't scream - but my interest is 23.25% per day - ONLY I did NOT see that the day I signed, I didn't read every line item and it was originally with Bank One; whom Chase bought - and they blow to deal with...anyway, you got it - it was my first ever loan in MY NAME only since my divorce and I was ecstatic, apparently stupid too; but so glad to be on the way to repairing my life that I let get destroyed credit-wise when I was married. If I could, I would re-fi in a heart beat but the nice thing is that if I wait until January to buy a home, it doesn't count anymore as long-term debt, so that will help tremendously!
I will be so happy to share the GOOD stories soon
Just frustrated that my scores aren't moving but they will be
It's ok - I have more knowledge now and know exactly where I'll be going next time thanks to the all of you! Lesson well learned - READ EVERY LINE of a contract and check out the forum before signing on the dotted line - too bad I didn't have all of you back then!