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Posted in Auto Loans
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Question By
2pennies

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1 Person Helped
Got an auto loan then my credit score improved 100+ pts. Should I refinance?
In July I financed a car-with a co-signer- while in the process of having disputes resolved on my credit history. I was approved before the disputes were resolved because I needed the car for transportation to a new job. After the purchase was made and the disputes were resolved successfully, my score went from an approx. 450-500 score to approx 600-650 score as of today.

In addition to Credit Karma informing me that with a refi from Blue Harbor I could save up to $1,092 on my auto loan (6.5% rate), I've been told by friends/coworkers that refinancing when you have a better score is a good idea to save money and free up the ability to continue to keep paying other debts off consistently.

Is this a good plan of action? Does anyone have knowledge of of Blue Harbor and their record? What will the impact be on my credit score?

Thank you for all your help!!

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