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Auto Refinance Tier 2 or Tier 3 Rate ?

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Mdowning30
Established Contributor
‎05-13-2022 07:27 AM
‎05-13-2022 07:27 AM

Auto Refinance Tier 2 or Tier 3 Rate ?

I will be re financing my car soon from Capital One to either Bank Of America or local credit union, my current Auto scores are roughly 620-630.

Chase Freedom Unlimited : $6000 | Discover It Chrome : $3500 | AmEx CS Investor : $6000 | Chase Sapphire Preferred : $5000 | Chase Amazon Prime : $2000 | AmEx Hilton Surpass : $1000 | AmEx Business Plus : $2000 | AmEx Platinum CS : POT $2800 | Tower Federal CU : $15,000 | Lowes Commercial Account : $1,000 | WF Bilt Mastercard : $4,000 | Shell Fleet Plus : $1,000
Total Credit Limit : $42500
Experian FICO 8 : 694
| Experian Vantage : 701 | TransUnion FICO 8 : 683 | TransUnion Vantage : 695 | Experian FICO 9 : 665
Starting Score: 512
Current Score: 693
Goal Score: 700+
Take the myFICO Fitness Challenge
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Cowboys4Life
Frequent Contributor
‎05-13-2022 07:47 AM
‎05-13-2022 07:47 AM

Re: Auto Refinance Tier 2 or Tier 3 Rate ?

@Mdowning30 wrote:

I will be re financing my car soon from Capital One to either Bank Of America or local credit union, my current Auto scores are roughly 620-630.

That would be Tier 3 credit.

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Mdowning30
Established Contributor
‎05-13-2022 09:28 AM
‎05-13-2022 09:28 AM

Re: Auto Refinance Tier 2 or Tier 3 Rate ?

So around 5-7% APR ?

Chase Freedom Unlimited : $6000 | Discover It Chrome : $3500 | AmEx CS Investor : $6000 | Chase Sapphire Preferred : $5000 | Chase Amazon Prime : $2000 | AmEx Hilton Surpass : $1000 | AmEx Business Plus : $2000 | AmEx Platinum CS : POT $2800 | Tower Federal CU : $15,000 | Lowes Commercial Account : $1,000 | WF Bilt Mastercard : $4,000 | Shell Fleet Plus : $1,000
Total Credit Limit : $42500
Experian FICO 8 : 694
| Experian Vantage : 701 | TransUnion FICO 8 : 683 | TransUnion Vantage : 695 | Experian FICO 9 : 665
Starting Score: 512
Current Score: 693
Goal Score: 700+
Take the myFICO Fitness Challenge
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Cowboys4Life
Frequent Contributor
‎05-13-2022 10:30 AM
‎05-13-2022 10:30 AM

Re: Auto Refinance Tier 2 or Tier 3 Rate ?

@Mdowning30 wrote:

So around 5-7% APR ?

More like 7-12%

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Jnbmom
Credit Mentor
‎05-13-2022 10:31 AM
‎05-13-2022 10:31 AM

Re: Auto Refinance Tier 2 or Tier 3 Rate ?

@Mdowning30 wrote:

So around 5-7% APR ?

It would be higher than that 

EXP 780 EQ 791TU 795
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