Hey guys. My wife bought a 2009 Honda Accord last year. It had 10k on the clock and she got a decent price on it. Her credit on the otherhand wasn't so great. She has 3 medical collections and 90% util on her only prime card. Scores barely breaking 600 at the time killed her interest rate but we got the dealer down to around 6% which given all her problems isn't that bad at all. Now i didn't go on the loan because I was thinking of getting an auto loan myself in the near future but that has since changed. I would prefer to pay down my 50% overall util/ 11k debt, before i get myself into another car since my civic has 180k on it and runs like the day I brought it home and a car loan would just drag that out longer. Back on topic, I was thinking of attempting to get a DCU auto loan to refinance her vehicle. This time we would do it jointly so i can try for the 1.99% (my scores are around 700 across the board), her payment can go down, and we can both get an auto loan on our reports to help the #'s. Does this sould like a plan that could work? I know my util is high but it is going down now that i have a decent job. Do you think that would kill the chances for the 1.99%? The loan would only be for about 15k and she is currently down to 50 months left on the original loan. I checked and the car is worth around 16k right now. Let me know if I should even entertain the idea.
