Approved but awful interest rate help!

[mattayy]

Hello,

I just bought a new car and I know my credit isn't the best so I knew my interest rate was going to be high but I was wondering when I should try and refinance my loan? 

Here are the details:

APPROVING BANK: Mazda Financial/J.P. Morgan Chase
BUREAU PULLED: Equifax/Trans Union
CREDIT SCORE: 622

AGE: 25
CUSTOMER STATE OF RESIDENCE: CALIFORNIA
NEW/USED:New
YEAR OF VEHICLE:2015
MAKE: Mazda
MODEL:3
MILEAGE:41
RETAIL/LEASE:Retail
AMOUNT OF LOAN: $21.5k
TERM CONTRACTED: 72
APR/LEASE RATE: 9.5%
MONTHLY PAYMENT: $383
ANNUAL INCOME: $90k

[Pistons0]

Not an expert in refi's at all but 6-12 months out would be good, establish some good installment loan history, I see you have 14 revolving tradelines, maybe SD the least used ones, work diligently on growing a couple of the other ones to pad utilization (just paid down 70% of my balances and my scores increased 35 points overnight). Getting your scores in the 675 area will qualify you for DCU best rate- 1.99%.... If you really wanted to you could probably refi in 3 months at a local CU at 4-6% and save on interest right away!