Car Loan Refinancing

[B16RacerN2NR]

I've looked at E-Loan and Capital One but I want to know if anyone knows a better place online. Last time I checked my credit score was 555, it dropped dramaticaly from 681 but that's a long story. It's been about 8 months since I got my credit score and i've been timely on all my car payments, credit cards, ect. So I know my credit score is higher now. The loan on my Golf is 14.9% and I want to drop it at least to 10%, I think that's still too high but I don't want to hope for much. anyway, anyone use any refinance company? suggestions?

 

[posol]

christ! that sucks ass. theres no reason to pay more than 5% now a days on a car loan. used car, 8%

 

[CRX-YEM]

sorry to say but over 8mos. your credit score has maybe gone up by 20-30points and a 585 score is sub-prime lending. your not gonna be a ble to find an interest rate worth trying to re-finance. to even be considered for prime lending most places require scores about 675-680. If you're a member of a credit union that might be your best bet.

I'd also add a car loan should be no more than 3% on a new car, and I agree 8% on a used car.

 

[corvetteguy]

My first car loan for the corvette was from hamelton financial....now keep in mind this was a car that was 10 years old with 76k on it.....my rate was 12.5%...after 3 months refinanced with E-loans and have a 5.5% rate....

 

[B16RacerN2NR]

Originally posted by CRX-YEM@May 31 2005, 08:40 AM
sorry to say but over 8mos. your credit score has maybe gone up by 20-30points and a 585 score is sub-prime lending.

[post=505585]Quoted post[/post]​

maybe your right but keep in mind, i've been timely and/or early along with paying more than the minimum amount to about 18 different creditors this has been since last august so it's more like 10 months instead of 8. my friend's tell me to wait the full year but that's still 2 payments that i could cut in half. anyone have a refinance website for me this time around?

 

[jamesA]

Originally posted by pissedoffsol@May 31 2005, 08:24 AM
christ! that sucks ass. theres no reason to pay more than 5% now a days on a car loan. used car, 8%

[post=505580]Quoted post[/post]​

my loan rate is 5.7%.

No way to refinance either, it's a fixed rate through my credit union.

 

[CRX-YEM]

Originally posted by 2000Si+Jun 1 2005, 01:54 AM-->

pissedoffsol

@May 31 2005, 08:24 AM
christ! that sucks ass. theres no reason to pay more than 5% now a days on a car loan. used car, 8%

[post=505580]Quoted post[/post]​

my loan rate is 5.7%.

No way to refinance either, it's a fixed rate through my credit union.

[post=505980]Quoted post[/post]​

Not true, you can refinance thru any bank or lender that will be willing to give you a better rate and take you car as colateral, get a new loan and pay off your credit union. Similar to doing a balance tranfer on a credit card.

 

[jamesA]

Originally posted by CRX-YEM+Jun 1 2005, 09:55 AM-->

Originally posted by 2000Si@Jun 1 2005, 01:54 AM
pissedoffsol

@May 31 2005, 08:24 AM
christ!  that sucks ass.  theres no reason to pay more than 5% now a days on a car loan.  used car, 8%

[post=505580]Quoted post[/post]​

my loan rate is 5.7%.

No way to refinance either, it's a fixed rate through my credit union.

[post=505980]Quoted post[/post]​

Not true, you can refinance thru any bank or lender that will be willing to give you a better rate and take you car as colateral, get a new loan and pay off your credit union. Similar to doing a balance tranfer on a credit card.

[post=506070]Quoted post[/post]​

Yeah, I can go through another bank. but I've been with the CU for 10 years and it's the only place I regularly bank at.