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Best refi option for 20 y.o. with 750 scores

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Best refi option for 20 y.o. with 750 scores

Hi,  So I cosigned for my daughter last April for a 2012 Nissan Sentra.  Interest rate is high at 11.25 because I was just beginning my rebuild at the time.  She has built her credit up to 751 EX, 750 TU, and 748 EQ.  2.2 yrs AAoA and several cards reported including Bof A, Chase, Discover, NFCU, and Capital one.  Car loan is currenty with Carmax Auto Finance.  She is also AU on my 2nd oldest account (SAMs Club MC ) at 11.5 years.   

 

She is a member of NFCU and USAA and can join NC State Employees Credit Union.    Looking to get a refi at or around 2 %.   What would be her best way to go.  Should she look into one ot those three or are there better opitons out there.  Trying to avoid a slew of inquiries because of rate shopping.   

 

Any advice is appreciated.  

2 REPLIES 2
Established Contributor

Re: Best refi option for 20 y.o. with 750 scores


@alottacards wrote:

Hi,  So I cosigned for my daughter last April for a 2012 Nissan Sentra.  Interest rate is high at 11.25 because I was just beginning my rebuild at the time.  She has built her credit up to 751 EX, 750 TU, and 748 EQ.  2.2 yrs AAoA and several cards reported including Bof A, Chase, Discover, NFCU, and Capital one.  Car loan is currenty with Carmax Auto Finance.  She is also AU on my 2nd oldest account (SAMs Club MC ) at 11.5 years.   

 

She is a member of NFCU and USAA and can join NC State Employees Credit Union.    Looking to get a refi at or around 2 %.   What would be her best way to go.  Should she look into one ot those three or are there better opitons out there.  Trying to avoid a slew of inquiries because of rate shopping.   

 

Any advice is appreciated.  


My nephews paid for SUV just took a nose dive.  I don't really want to co-sign.  

So I am interested in any replies on this as well.  He is 19 years old. 

 

He is an AU on my one card .. he has been workng 25 hours a week and will be working 36 hours a week starting this week. 

 

Of course this weekend is when this car took a dive. 

He has College planning and lots of errands to do... so Im hoping he can get a $5000 loan from a credit union. 

I am looking for the same advise.  His Mom's credit is not good enough yet to co-sign. 

 

Im having a break down .. cause everytime I get my head above water, I feel like I have to be the solution solver. 

My family never gets a break.  I work so hard, we all do.. no hand outs.  Just working middle class .. with take home pay shrinking. 

 

I guess I am very depressed tonight that I am taking off tomorrow to try to figure out a solution. 

If he does not have a car - he will lose his job.  

 

I don't want him to have a $200/month payment.  He has a deadbeat father that owes 18 years worth of child support. 

But when your Mom does not take Welfare the government does nothing to fight for you.  Sorry I digress. 

Feeling jinxed every turn.  

 

I think he will do well with a vehicle around 5k .. but dont want a payment more than $150/month.  

He has to start college in January at a local community college.  

 

Im saying my prayers tonight. 

 

 photo AllCC.jpg11/22 FICO8: EX/697 TU/721 EQ/700 ~ Tip Toeing thru the Tulips in my Garden since 6/21
Message 2 of 3
Established Contributor

Re: Best refi option for 20 y.o. with 750 scores

well she ended up going with NFCU and got a 5.09 rate for 5 yrs. Although she plans to keep payment the same of at least close and still pay off in just under 4 years.   Just wanted to get a lower rate than the 11.25 she had been paying.  

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