AUTO LOAN REFI

[Anonymous]

Hey guys,

I have a quick question. I have a auto load through roadloans cause I had pretty crappy credit. ( going up like mad now, thanks to you champs!!). Anyway I will be house hunting in the spring and I wonder if I re-fi my auto loan, will it "reset" the loan life if I do that?  Or to re-phrase,  will it make that account look like it's only been open for a couple months vs. well over a year? I have never been late on a payment with it.

[Tuscani]

Refinancing won't have much (if any) impact impact on your score.

[Anonymous]

Cool,

I guess I just assume that every move you make with your finances is a way for the FICO gods to screw you in some way, shape, or form. 

Sounds like an auto re-fi should be ok though.

Sweet, thanks Tusc.

Message Edited by catadm123 on 08-07-2007 11:10 AM

[golfmomfor3]

We recently traded in and only qualified for C.O. Auto Loan(35000)  which will pay off an American Gen (9900).  As you know, this is a high APR based on information that we are currently aggressively disputing with some results.  Our goal is to refi auto in next 60-90 days (we have long history and another 30 mth current auto loan) with CCCU when we apply for CC.  How will this transaction affect our score in the next week or two since Amer Gen may not show paid right away and new C.O. loan eventually reporting for larger balance?  Does the new TL for auto loan possibly lower score once showing?

Should there be some strategic planning when applying for CCCU CC in next weeks based on this recent transaction?

Message Edited by golfmomfor3 on 08-12-2007 07:28 AM