If I refinance my car with a different lender will the closing of one account and the opening of the new account lower my score because of average account age?
instead of asking about your score, how will it affect you financially? if it is wiser to refi and save yourself money, screw the FICO. average length of tradeline seems to affect internal scorecards more than fico. rather than try to figure out how it will affect your score, use the magic 8-ball to tell you
point taken. I was just worried about average age, I thought it may be worth it to stay at a higher rate for a few months and then refi if the age would hurt me but I see things clearer now a 100 is a 100 and scores are really not that important for about 6 months when it comes time to move to a bigger house and the money I've saved by the refi will come in handy. Any words of wisdom concerning Household auto?
I've heard both good and bad. Is household the company now or who your refinancing with? what is the new rate/terms compared to the old rate/terms? btw - hows the expedition?
Re: refinance auto and average acco Mazda american is the old company 12.9% for a 2003 tribute, household is the new company, got the papers fedex today 6.1% going from 72 months to 60. I have had the loan for 6 months with 50 extra every month and 21 days early each time. Expedition is great, so am happy with the truck,got it at 8% not bad for a used car rate I think.
Re: refinance auto and average acco JENZ, did you get the soccermom wagon yet? does it have real fake wood on the sides? Lots of Bling Bling? Just kidding, minivans are very versitile, just not something I could drive,you know the whole Macho thing
Re: Re: refinance auto and average acco ick - the MINIVAN i get it on monday - i worked a towing package into the deal so they are putting that on. i got approved through the dealership w/wells fargo w/a 10% rate which was fine because i financed everything (tax, licensing, etc) for 48 months. in a couple weeks i plan on shopping for a better rate. as versatile as it is, it isn't good for my ego either. it is really nice though and simply makes sense. there aint enough BLING BLING you could put on it to help my ego LOL and wouldn't you know it, damn it, they were all out of wood paneling! LOL
Re: Re: refinance auto and average acco 1) your not saving 4% - your saving 6.8%!!!! Awesome deal. if you can afford to, keep making your payments as the same amount you were and you will have it paid off real quick. 2) 8% is great for used - what kind of term 60 or 72 months? btw - i had gotten the same line at the dealerhsip - we only pull one report but when i checked my bureau, there were 3 inquirys besides the one for the dealer. disputed those real quick!
Re: Re: refinance auto and average 8% 60 months, Checked rate calculator and will pay the 48 month payment amount to get the bal down and not so much interest. I have some stick on shelf paper in the garage and I believe it is wood grain pattern if you want me to send it to you to bling up the love machine
Re: Re: refinance auto and average we got off track, Any pitfalls or anything to worry about with household before I sign these papers and fedex them back??? contract looks pretty standard.
Re: Re: refinance auto and average i do a lot of indirect lending the same way household does. as long as you've read the contract thoroughly and understand it, i don't think you have anything to worry about. if you do have questions, simply talk with one of their lenders. i'm indecisive between the woodgrain and some 60's style neon flowers with the phrase you used ("Love Machine") on the back. or would "Shaggin' Wagon" work better LOL
Re: Re: refinance auto and average For some reason the phrase " if this MINI van is rockin don't bother knockin" just doesnt sound right
Re: Re: refinance auto and average when you say indirect lending, what do you mean, I thought I was dealing directly with household?
Re: Re: refinance auto and average i'm sorry i should have explained indirect lending: not coming into my office, dealing through the mail to have papers signed. it can also mean third party transaction, but i meant it to say you weren't going into the local branch, going over the contract, and signing on the dotted line.
Re: Re: Re: refinance auto and average dont you need a big conversion van, with a bed in the back, with orange shag carpet and incense?
