Established Member
Calicurli
Posts: 21
Registered: ‎07-01-2007
Crazy high score needed to refinance auto loan, is this true?
[ Edited ]

‎05-23-2008 06:49 PM - edited ‎06-11-2008 03:32 PM

Hi everyone -

I was talking to a loan officer (not applying, just asking questions) at my local Credit Union.

He told me not to even think of applying for refinancing my auto loan until I had a least a 680.

Now, I have applied in the past for refinancing and was turned down. But right now my scores are in the low 500s (EX) and 530s (TU and EQ).

For those of you who have successfully refinanced, do you find this was the case?

Message Edited by Calicurli on 05-23-2008 06:53 PM

Message Edited by Calicurli on 06-11-2008 03:32 PM
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Senior Contributor
MattH
Posts: 3,245
Registered: ‎04-03-2008
Re: Crazy high score to refinance, is this true?

‎05-24-2008 01:19 PM

http://articles.moneycentral.msn.com/Banking/YourCreditRating/WantedCreditRepairToBuyAHouse.aspx
TU 791 02/11/2013, EQ 800 1/29/2011 , EX Plus FAKO 812, EX Vantage Score 955 3/19/2010 wife's EQ 9/23/2009 803
EX always was my highest when we could pull all three
Always remember: big print giveth, small print taketh away
If you dunno what tanstaafl means you must Google it
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