@pizzadude wrote:
@samarrone wrote:Is there a typical timeline that after you buy an auto you can refi? Could I refi 4 months after purchase? 2?
It may vary with creditors but you could probably refi just about anytime if you are using a different creditor. If you are trying to refi with the same creditor they might want you to wait 6 or 12 months at least, but just be aware that many creditors won't refi their own auto loans.
Pretty much what PD stated: personally I would suggest 6 to 12 months depending what the rest of your report looks like... six months appears to be the basic seasoning length for any tradeline (or at least the first of such boundaries), anything shorter is considered a short-term loan. Also in six months your score will have recovered from your initial tradeline, and if you were suffering from a "first-time buyer penalty" that's pretty much obviated too. 12 months in my opinion has more to do with how the rest of your report looks, if you have negatives coming off, or an AAoA boundary, or even a couple of tradeline anniversaries.
That said, if you can make a big swing financially, it's probably worthwhile at any time though I didn't choose that personally. Six months interest wasn't going to kill me I decided, and I figured my score would improve enough over time to make it worthwhile. Someone with a much thicker file than mine, there's less benefit to waiting to refi if they can get a solidly better deal immediately.
