I am currently considering refinancing an auto that I purchased about 2 years ago. Both me and my wife now have scores between 620 and 680 on our credit reports. Anyone know of a good place to start? I am currently financed through Cap 1 Auto at 15.9 % interest. I have refinanced this car once already, it was originally 23 % interest (YIKES). I still owe more than 10,000 on this vehicle and currently pay more than $400.00 per month with about 3 years left on the contract. I would appreciate any help I can get!!!
If you have paid COAF as agreed you may want to try www.peoplefirst.com That is owned by COAF & uses a similar scoring system. If approved your rate could possibly be in the low single digits. A local cu may also be a good choice.
Try Household Auto for refinance. I bought a new honda accord 2003 in august. Could only get financed thru Consumer Portfolio Services at 18 percent interest. Made 3 online payments, payments were 555.00 a month. Applied online thru household and was approved within an hour. Rate, an amazing 6.7 percent. I faxed emailed documents and loan was funded on a Monday. I sent documents Sat and they arrived their office on a monday. Loan funded that same day. They are great. They saved me a $150 a month. My new payment is just over $400 a month. Try Household, if you get approved you won't be disappointed. My score couldn't have been much better than 580-600. I had recent BK too. Unbelieveable to me.
