Can I refinance this?

[Anonymous]

I have a 2006 GMC Canyon with 113k in miles.  The loan is threw Wells Fargo at 11.99%.  Original balance of 10,800 with 7000 left.  It is a 48 month loan and I have a little over half left.  Payment is $288. Fico 8s are low but the rest of my scores are in the mid to high 600's.  I guess I'm wondering if I can refinance an old vehicle like this and also if if I can do it without extending the loan.  I just want a lower interest rate. I'm wanting to possibly buy a house in a year and a half or so and want this paid off.

[Revelate]

Which explicit scores are high 600's?

Last time I checked there were some lenders that would do a loan on a 10 year old vehicle but you'll probably have to ask around.  I'd start and likely end with the usual credit union suspects depending on which scores were prettier than my FICO 8's.

I'd suggest not caring about term, if someone offers you a sweetheart APR on a 7 year loan, you take it... why?  It's the same amount as your current loan (well plus any fees) and you can simply overpay the loan by precisely what you were making payments before on, and finish the term out faster than even the original loan.

[Anonymous]

Ex auto 8: 617, auto 2 656, mortgage Score 2: 609, TU auto 8: 638, Fico auto 4 670, mortgage 4 664, EQ: Auto 8 644, auto 5 688, mortgage 5 658.  So I guess they are kind of all over the place.  Seems like older scoring models are higher.  Yeah I guess the length of the loan doesn't really matter if I'm going to pay it off early anyways.

[C7LT1]

A 10 year old vehicle with 113k miles will be very hard to refinance. I can understand wanting to get it paid off before you buy a home. My suggest is to keep the loan the same and use the next year and half to pay it off. Make as many principal only payments as possible until you get this thing paid off.

Also, It's not to early to get in contact with a mortgage loan officer to see what you are pre qualified for and what if anything you need to do get qualified for more. You auto loan may not have as big of impact you think.