My 20yo college kid bought a car abt 3 mos ago. $6k at a high int rate (10%). How soon should she refi out of that loan and what's the best way to do it (CU, Cap1)?
Yes refinance now. Refinancing typically has higher rates than new car loans. Rate Genius (very good broker) has some of the best rates around 2.99%-4.2% for well qualified buyers. The whole cost for a refi from them is $220 and they do all the paperwork. I just did one with them two months ago and it was easy as pie. Got a rate of 3.49% and I have a Fico score of 810
DCU = Digital Federal CU to be sure?
Yes, correct. The also offer 6.17% APY on savings up to $1,000.