Overhaulin'

How long should you want until you try to refinance an car loan?

My wife had no credit when I got the loan, but she has credit now and I want to add her to the loan, but to do so I will have to refinance. This could hurt my score? But could help my intrest rate. (Currently 13%) May credit has also gotten better since the loan. It's been 7 months now, I heard I should wait until a year.

Public Comments

1. If you think that you are paying a higher repayment amount for your existing car loan<!--then you can bring it down. With the help of refinance car loans, you can switch the loan plan with effective loan management. http://best-loans.awardspace.com/refinance-car-loan-bad-credit.htm If you think your lender is charging a higher interest rate on your car loans then you can look at the refinance car loans option. With the help of a refinance car loan, you can avail multiple benefits. Firstly, you may reduce-->your monthly costs. Secondly, you may avail a competitive interest rate. Thirdly, you could be getting a flexible repayment period. Overall, you will be managing your loan a lot better.
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3. This is part of an article on different ways to defray costs and this is the part that talks about car refinancing. Depending on your credit scores and how much you "rolled" into the new car loan (if you did it without financing anything in, great.), it may not be a great idea to refi your car because the money you save in interest, gets spread out because I don't think the refi calculates for the remainder of the term....i.e., I believe you are starting over with another 4, 5, or 6 year note."Car-loan rates vary hugely depending on your credit score and the length of the loan. Someone with a score of 740 or over can land a three- to four-year loan with a rate as low as 4%, Larsen said, with rates marching steeply higher from there. I've bookmarked this site to go back to next time I need a loan... http://www.knowledged.info/go.php?link=auto Hope that helps.