Valued Contributor
Posts: 1,228
Registered: ‎05-10-2012
Re: Toyota Financial- credit score 604 and 624- 12.5% APR
[ Edited ]

I'd find out what bureaus your local CUs pull, and find out what their tiering is.  They are very forthright with this information.  I would guess that you'd probably want to wait until around 650 for a good refi with a CU, which would put you in the ~7% range.  This would put you 6-12 months out to repair your score, depending on many scenarios.  If Toyota is willing to work with you at 2.9% after only 12 months, I say wait for that.


Edit:  I didn't realize the Toyota deal meant trading in the van after only 12 months.  That's totally up to you, but I'd pay careful attention to how much money you roll over into a new loan.

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