I am currently paying 14.7% on a car loan @ 72 months. So far I have had the car for 1.5 years. I would like to shorten the payment terms as well as lower the payment amount if possible but not necessary. I did the pre-qualifier on the Capital One website and was quoted 9% interest with a small decrease in payment but I could shorten the terms by only one year for the amount they offered that I could afford monthly. My question is do I take it or wait for a lower interest rate as my credit improves? I am in the rebuilding phase. Luckily I was able to make a sizeable down payment so I owe much less than the the car is worth.
***Gardening 3/29/2018 until 9/25/2018***
I'm worried about having multiple companies run my credit only for a denial. The inquiries would probably wreck havoc but I'm thinking the same thing that you are @SteelerNYC.
My Fico 8 scores are 585, 601, 593 My Fico 4 is 660, Fico 2 is 619 and Fico 5 is 609. Which scores should I use?
Yes, it was a soft pull. I'm thinking about trying to get my local credit union to refinance it. I called to inquire which version and credit reports they use but all the person was able to tell me was that they look at the Equifax score, report, and DTI. So will it was some help, it was not helpful in determining what version. The rep didn't seem to know what I was talking about.