refi from 22.62 apr

[Anonymous]

I recently got a car, I was desperate and with no money down they sold me a car on credit.

12k loan.@ 22.62 APR

I have had this loan since nov and the payments are 323 a month.

since i have gotten this new car my credit has improved.

- score as of  3/3 - 

experian - 633

transunion 628

equifax 670 

- score on 12/22 - 

experian = 585
transunion = 590
equifax = 632

___________________

I got a offer in the mail. it is a green notice. and it is offering me a 14.65 instead of a 22.62 rate that i currently have. my payments right now are 323 a month. this offer is telling me that they will give me payments for 273 a month. the name of the company is carfinance.com

my current bank is through gm financial.

any thoughts on what I should do with this offer to re-fi my car? I just got this car in nov of 2015.

[StartingOver10]

Have you thought about going to a credit union instead of another subprime lender?  It is my understanding that carfinancing.com is a subprime lender and it sounds like you have proven you are ready to get out of that subprime arena. 

If you have verifiable income you may be able to get a much better interest rate than the marketing offer you received in the mail by going to a CU. Check it out first.

[Anonymous]

i am going to look into a few local credit unions. 

[Anonymous]

Try capital one as well to see if they have anything for you. I had good luck on a refi last summer with them, fast and easy.