Well it the Cap One pre-qual is good to 7/30 then try other lenders until around 7/20.
Do you have a Credit Karma account, I believe they give recommendations for car loans. And you might try DCU, Digital Credit Union - you don't have to join to app for a car loan, only if you're approved and want the loan. They pull Equifax, but EQ Fico 5.
Just wondering is there anything you can clean up quickly on your credit reports, to make your scores go up ?
I would probably go ahead and refiance it now and then make all payments on time for the next 2 years and try a GW letter to mortgage company to see if they will remove any of all lates, then refiance again ! lol
Considering your scores, late's, etc., I think the offer is pretty good !
If my math is correct you borrowed about 23k and still owe 21k and change
If you make your current 667 payments @ 16.42 vs 28.49 you save 2,640 in one year.
Over loan life you would save ~$12,000.
Take the loan, let scores move up, re-evaluate in two.
Well the CapOne prequal expired today and I’m glad I didn’t rush to take the offer. I was able to wait out the update of my defaulted student loans to paid as part of consolidation. That raised my scores high enough for NFCU to approve me yesterday for 5.29% for 60 mos. saving $220/mo on my payments and several thousands of dollars in interest. I posted the details under Auto Loan Approvals if you’re interested.
Thanks for the feedback and advice from those that responded to this post. These forums are absolutely fantastic and a source of invaluable information. I spend probably too much time on these forums but it’s well worth it as I have gained so much!!!