Re: Seeking advice on auto refi after BK
11-04-2012 05:31 PM
Just sharing information for whomever it may help. I recently refi'd my car and was able to lower my rate from 8.15% to 5.25% with American Eagle. This CU only pulls Experian which was my best score. My loan to value on the car was about 30-40% which really helped. I didn't really care about the rate as much as having an installment account in good standing and closing the negative acccount. I took a 24 month term because there is so much emphasis on your last 24 months on scoring. I got my first credit alert since the change and my Equifax FICO on this site jumped from 608 to 642 based on the refi. I'm pretty happy because that is my midscore and I'm now eligible to apply for a home loan.