I just purchased a Dodge Durango Citadel and put down $3500.00 and was approved by Wells Fargo to Finance my auto loan. The Vehicle was roughly $39,000. My payments are $637.00/month (with Gap Insurance included) My Fico Auto Score was a 768 and my intrest rate is 5.390%. I'm not very familiar with Auto Intrest rates but would this be considered to high and if so how long should I wait or how much should I have paid down this loan before possibly refinancing. Furthermore with the Inquiries and the loan appearing on my file, you can only imagine how much my score tanked, in which while I enjoy my new vehicle I will be in the garden for the rest of the year. How long will it take for my Fico 8 score to recover it has dropped almost 70 points where as I was in the low 800s and now flucutuates between 720 - 730. Thank you for your help !
