What is the impact auto refi

[bobbay]

I was wondering what the impact is? I just re-financed an auto loan that was 20 months reporting.  Is there any impact brcause it was paid before 24 mos history?

[Revelate]

---

@bobbay wrote:

I was wondering what the impact is? I just re-financed an auto loan that was 20 months reporting.  Is there any impact brcause it was paid before 24 mos history?

---

Nah.  New tradeline, inquiries if any, possible reset of installment utilization to 100% on the auto loan as compared to where you were before... but we're not 100% sold that's a thing yet even if I'm pretty darned well convinced at this point.

[kenspi67]

I'm about to go through a similar situation .. However, my auto loan is only 2 payments in, and I already "re-financed" . .I'm curious what type of hit i will take .. When the original auto loan hit my report, i lost an average of 35 points across the board ..