what is the best APR rate when u refinance the car? my credit score is 675?
i'm planning to refinance my car,,, last year,i got my car at 9+% rate which i think was high but i had no choice then coz my credit score was bad, but i tried to rebuild it and right now my credit score 675? do u think i can still get lower that 9+% APR if i refinance it?
Public Comments
- 15%
- You should be able to get a couple points lower through a credit union given your credit score, AS LONG AS YOU ARE NOT UPSIDE DOWN IN YOUR LOAN! They may ask you for a partial downpayment so that the new loan balance is below the blue book value.
- I doubt it. You may be able to get a few bps lower, but I would not count on it. Rates are always higher for used cars and refinancing. If you can get 8 or below go for it, otherwise I would not spend the time.
- If its a used car, 9% really isn't too bad-- especially if its over 5 years. The lowest you can get-- and with REALLY GOOD credit, is more like 6-8% on used cars, unless its some sort of special deal. (Generally speaking.)
- Yes I think you could get lower rate. A 675 is a good enough score to get better rates. If I went to my bank with this score I could refinance from 7.44 to 8.44 or if I used Capital One I would get a rate of 7.45% to 7.95%
