When to Refinance?
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When to Refinance?
I got a pretty crappy interest rate (8.54%) on my loan even though I had a really high credit score. The problem was that I had insufficient credit history, this being my first big purchase. I've made 6 months worth of payments, paying ~15% more than my monthly payment each time. The current payoff amount is about $2000 less than what I originally financed. How much longer should I wait before I try to refinance?
I'm also considering paying a few extra thousand off the loan in the next couple months to help get a better refinance rate.
I'm also considering paying a few extra thousand off the loan in the next couple months to help get a better refinance rate.
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pdxhak
General Automotive
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09-22-2015 07:39 AM