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AUTO REFINANCE

Established Contributor
162.95.216.223

AUTO REFINANCE

What is the best time to refinance after a purchase of a car? What is too soon and not beneficial? Or is the best time to do so when your credit scores are good and you know you will get a better rate than their current.......
I want to join the 700 club one day I am getting there Smiley Wink
FICOS 12/17/07 EQ-597 EX-651 and TU-651
FICOS 01/18/07 EQ-594 EX-651 and TU-662 FICOS
04/21/2008 TU-680 EQ-613 EX-688
Message 1 of 5
4 REPLIES
Moderator Emeritus
162.95.216.223

Re: AUTO REFINANCE

When did you buy the car? What are your current scores and loan terms?
Message 2 of 5
Established Contributor
162.95.216.223

Re: AUTO REFINANCE

bought car 08/07 with 12.65 rate and then got an offer in the mail 11/07 to lower rate to 11.99 same terms (72 months) only difference in payment is like 10-25 dollars per month I guess no big difference unless you look at it over the long haul
I want to join the 700 club one day I am getting there Smiley Wink
FICOS 12/17/07 EQ-597 EX-651 and TU-651
FICOS 01/18/07 EQ-594 EX-651 and TU-662 FICOS
04/21/2008 TU-680 EQ-613 EX-688
Message 3 of 5
New Member
162.95.216.223

Re: AUTO REFINANCE

One thing to realize is that your payments also go down some because you've paid off a little towards the principle. If you've done an initial 72 month loan and you receive another loan offer for 72 months 3 months later, your long term loan is actually 75 months ... not 72.
 
-- Philippe
Equifax FICO: 780 (1/8/08)

http://blog.c3oc.com/ - Call Center Blog
http://forums.c3oc.com/ - Call Center Forums
Message 4 of 5
Highlighted
Established Contributor
162.95.216.223

Re: AUTO REFINANCE

I hadnt made a pyament yet when I got he offer Smiley Happy
I want to join the 700 club one day I am getting there Smiley Wink
FICOS 12/17/07 EQ-597 EX-651 and TU-651
FICOS 01/18/07 EQ-594 EX-651 and TU-662 FICOS
04/21/2008 TU-680 EQ-613 EX-688
Message 5 of 5