Looking for some advice on if trying to get an auto loan refinance of a decent rate is reachable or if I simply need to wait. Current scores/stats below.
EX- Fico8-692 Fico8 Auto-657 Fico 9 660
TU- Fico 8 651 Fico 8 auto 654 Fico 9-700
EQ- Fico 8 679 Fico 8 Auto 668 Fico 9 -740
Just closed on a new home a week ago, so that is not reporting yet. I have no other baddies or recent lates. Scores are held down by old accounts that have since been paid. No lates in 3+ years. Vehicle in question was bought in August of 2018 (was brand new). Current interest is 8.99 and I owe just over 32k. I applied to penfed about 9 months ago but at the time I was denied for 'Too many inquiries'. I had started a new app with Penfed but their online application keeps giving an error of the loan value being hiring then NADA (by about 1 %).
So in summary I'd like to refinance this and pay a few thousand less in interest over the next few years but not sure if I can get a decent rate with my current scores. No real way to raise my scores according to MyFico other than giving it time. Most of the baddies won't fall off for another 2-3 years.
Sorry if I've missed providing some info here.
Do you have the same amount of inquiries on all the CRA? If not, might want to leverage a credit union or bank that typically pulls from a particular CRA other than EQ (PenFed).
Just to update here, this was right on the money.
Applied at DCU, was approved for 5.49 at 72 months or 4.49 at 65 months. I definately took the 4.49 options.
Thanks for the help