Another NFCU Refinance Question

[Anonymous]

Good evening!

Last week I got approved through NFCU for a $45k loan @ 10% interest on a 2013 Audi S6 with 35k miles. Ouch! This was mostly beacuse I have a $58k auto loan that has a balance of $41k that will be paid off this coming Friday. Once the old loan is paid off, would it be worth trying to refinance the new loan before my 30 day window is up to avoid another hard pull? Or should I wait a while and just suck up the 10% rate for the time being? If so, how long should I wait? They pulled my TU score of 663, which should go up upon paying off the old loan.

Appreciate any and all help!

[Anonymous]

I just noticed that you posted this under a different title. So I'm glad I caught this post. I strongly suggest you hold off on the refinance until you've established at minimum 6 months on time payment history on the audi s6. It will look good to the lender and you should be approved easily. Let it marinate and enjoy the ride. I had a SUBPRIME 16.9% for 3 years with no lates--audi financial loved that so much they gave me 5%. You could be setting yourself up for better upscaled models if you just keep that car with that interest rate for a few months or a year. Audi looks at how you pay auto and mortgage loans usually minimum of 12 months with no lates. Audi does not care about how you pay credit cards. In a few months, you could be doing donuts in their new RS5. Audi uses EXPERIAN FICO 8 auto score and TRANSUNION FICO 8 (depending on your location). Audi does not use EQUIFAX ( I believe nationwide).
Goodluck.

[Anonymous]

Just in case you didn't see my last post..do not refinance yet. At least do 6 months on time payments. I had 16.99% APR and I worked that for 3 years; I'm sure you can do this for a few months.
Trust me on this. It's worth the wait.

How does the car ride? Having fun?
😁😁😎

[masscredit]

I'm also thinking about refinancing a recent auto loan. Mine is from DCU. It was approved 4 weeks ago. $28K at 6.99% for 84 months. I went long with plans to pay it off 2 years early but I have a coushin incase I need it. I'm now a member of NFCU. I found that they offer a 72 month loan at 4.79%. The regular monthly payment will go up by $18 but I'll shave off a year if I don't make any additional payments plus save a lot of interest. 

It seems like it would be worth taking a HP for this.  What do you think? 

I was approved for one of their credit cards after I signed up. I don't believe that HP can be used for the loan.

[Remember0]

You should probably start a new thread, but I'd take the HP to save $1k+!