Is getting refinanced easier than getting approved for 1st time car buyer?

[butters149]

Just wondering, is refinancing a car easier than getting approved to buy a new car for first time car buyer?  The reason I ask is because the salesmen always brings up the point that a first time car buyer will always have trouble getting approved because they have no auto payment history.  

They also mentioned that I should wait 6 months to get refinanced, I'm assuming this is so they can see a good payment history.  This is assuming the person is sub-prime with tier 3 credit.

[pizzadude]

Generally, yes it will be easier to get refinanced, once you have a few months of good auto loan history under your belt.

If any negatives or lates pop up however, it may still be difficult, as your overall credit picture is still a factor.

Also you'd still need to qualify based on their DTI standards, so any other new indebtedness could be an issue.  

[butters149]

what do u mean DTI standards?

[pizzadude]

DTI -- Debt to income

Meaning that your income will still need to support the new loan payments, plus any existing / new debts incurred.