Auto refinance questions

[Anonymous]

Okay so I did that (it doesnt run as an inquiry does it?)

They have me "pre qualified" for a loan of 15,840$ with an APR range of 6.49%-17.41%.

[Cellice]

After you get the prequalify you can tell them you plan to refince, enter the vin and term etc. It will give you a more definitive APR.

[Anonymous]

How would I do that? The only thing I can manage to find is looking at different vehicles lol.

My refinance would be 19,000 - which is above what they have a "pre qualification" for too

[Cellice]

I'd say give them a call. I used the prequalify website last month and cant get back in for some reason now so I cant tell you exactly where to go. I know I was able to enter a vin and play with the terms and it showed me the payment and the interest rate.

[Anonymous]

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 (I purchased GAP, in addition to a maintenance package for employee pricing which I regret).

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I would cancel the maintenance agreement ASAP. Although your F&I guy might get a little pissed when his commission gets charged back for that...

[Cellice]

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@Anonymous wrote:

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 (I purchased GAP, in addition to a maintenance package for employee pricing which I regret).

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I would cancel the maintenance agreement ASAP. Although your F&I guy might get a little pissed when his commission gets charged back for that...

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Well he shouldnt get mad when he fed over a coworker.

[Anonymous]

I'm thinking I'll cancel the maintenance one, but GAP is important.

Maybe you guys have an idea on this - I have 1 collection on my account. I used the 'direct dispute' thing on creditkarma but it's taking awhile. Do I let that finish up and hope it works or do I go ahead and contact the agency and ask them to verify/ask to do a pay for delete? Thankfully it's a small 110$ collection but I would really like to get that off.

If I did, how different would my chances be at a better APR if that goes off and bumps me up? Is it worth waiting or is the difference minor enough that I should try to refinance asap?

[Chris679]

Here's my advice:

Step 1: Refinance now to start saving right away

Step 2: Work on improving your credit so you can refinance again in six months with the goal being 5% or below at that point

Step 3: Start looking for a new job at a dealership where they don't let their 19 yr old coworkers buy $18000 cars @ 21% apr then upsell them on the maintenance packages.

[Cellice]

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@Chris679 wrote:
Here's my advice:

Step 1: Refinance now to start saving right away

Step 2: Work on improving your credit so you can refinance again in six months with the goal being 5% or below at that point

@Anonymous 3: Start looking for a new job at a dealership where they don't let their 19 yr old coworkers buy $18000 cars @ 21% apr then upsell them on the maintenance packages.

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Yes! I 100% agree with Step 3. I realize dealerships take advantage of customers, but doing that to your own employees is just disgusting.

[jim44]

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@Chris679 wrote:
Here's my advice:

Step 1: Refinance now to start saving right away

Step 2: Work on improving your credit so you can refinance again in six months with the goal being 5% or below at that point

@Anonymous 3: Start looking for a new job at a dealership where they don't let their 19 yr old coworkers buy $18000 cars @ 21% apr then upsell them on the maintenance packages.

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Good advice on step 1 and 2.  Isn't the purpose of this forum to provide credit and financial advice to others based on our credit experiences and not to give employment advice by questioning the OPs working environment.