Auto Refinance Help

[cdub69]

I have an auto refinance question.At the time of purchase I had a low credit score two collections and one repo.My credit scores now are Ex(693) EQ(688) with no negative accounts.My credit card utilization is at 50%.Should I wait until I get a 720 score and lower utilization or apply now? Also should I apply at a bank or credit union?My car is financed through Cap one,should I also attempt to refinance with them as well? Here is the account information:

 2013 Dodge Charger

Original Amount:

$32,250.00

Interest Rate:

14.100% APR

Loan Term:

72 Month

Monthly Payment:

$666.26

Open Date:

Aug 17, 2013

Maturity Date:Aug 27, 2019

Balance:$ 25,039.82

Miles:21,125.00

[jhtrico1850]

Capital One and a lot of banks won't refinance their own loans.

How much debt do you have? Do you think you can easily bump 50% to 30% or even 0%? If so, I would do that first.

If not, it won't hurt to apply at DCU (Digital Federal Credit Union).

[SamsungHDTV]

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@cdub69 wrote:

I have an auto refinance question.At the time of purchase I had a low credit score two collections and one repo.My credit scores now are Ex(693) EQ(688) with no negative accounts.My credit card utilization is at 50%.Should I wait until I get a 720 score and lower utilization or apply now? Also should I apply at a bank or credit union?My car is financed through Cap one,should I also attempt to refinance with them as well? Here is the account information:

 2013 Dodge Charger

Original Amount:

$32,250.00

Interest Rate:

14.100% APR

Loan Term:

72 Month

Monthly Payment:

$666.26

Open Date:

Aug 17, 2013

Maturity Date:Aug 27, 2019

Balance:$ 25,039.82

Miles:21,125.00

---

It depends on how soon you can bring down your utilization to about 10%. If its within 1-2 months, I would wait to refinance. If its beyond, I would go ahead and refinance now, and again when your scores reach 720+. 

[Ragelog]

Have you checked the nada clean retail value?

[cdub69]

I can get it to 30% in two months. Does anyone have recommendations to where I should go?

[Rick636]

ezautoloan dot com or  First Investors Financial Services, Inc.  I am in the middle or refi now and it will be 7%.