Auto loans with 588 score

[Anonymous]

Hi!

Thanks,actually we thought about refinancing even before signing papers  but will see for a year when our scores go up and by then we have at least the power to negotiate.

Thanks everyone for all the inputs , i have learned a lot.

[fltireguy]

Hi,

 Get your scores up, and, after 6-9 months of positive payment history, Refinance thru DCU,PenFed, or NFCU  

Congratulations btw

[Anonymous]

Thanks  everybody!!

[grillandwinemaster]

Hey, post a pic!

It's customary to show us what you got!

Congrats!

[Anonymous]

Congrats on the car and the decent APR all things considered.  I would encorage you to refinance when your scores improve, over the life of the loan it will save thousands. When you refinance you can set the term to ensure you are not extending the loan excessively.  We were in a similar situation to you a couple of years ago, started at 12.5% then refinanced 6 months later to 8.5% and then two weeks after that to 4.29% all without extending the number of months we are paying.  The savings over the life of the loan is over 5k so its well worth the effort.