Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Auto Loans
Profile Image

Question By
eder773

1 Contribution
0 People Helped
Has anyone used the Refinance Auto loan companies Credit Karma offers?
I currently have a car loan with CAP ONE, Gave me 72mnths with APR over 20%. I been paying for a year now, wanting lower rate. My credit score shows 550 right now. Now, on the my recommendations tab, it shows I can save money financing for lower APR. Has any used any of the loan banks they recommend, like CarFinance.com? Should I take it or should I wait til my score go back up alittle more. I started this a month ago, and went from 542 to 550.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-4 of 4Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
2 Contributions
22 People Helped
Most Helpful Response

refinanced loans

Helpful to 10 out of 10 people

I took out a refinanced loan for $15000. I got 7.39% for 29 months. I will be saving thousands in finance charges. 

My total finance cost went down to $1474.00 total amount.

They send everything out on paper, easy to read. No pre payment penalties.

I went through Light Stream Lending.

I recommend. 

1 Contribution
9 People Helped

I was just denied a refinance loan from

Helpful to 9 out of 9 people

Carfinance.com through creditKarma's recommendations. Here is my situation:

CS: 540, 2 negative items under $1000, two open revolving credit balances in good standing over the last three yrs, in addition to the $19,000 Cap ONE loan (4yrs old now)... income above 70K... but i was denied. Hope this helps as a comparison.

Credit Karma Team
Top Contributor
2949 Contributions
4643 People Helped

Helpful to 8 out of 9 people

If you look at the Reviews section, you'll see reviews from Credit Karma members who have experience with various lenders: https://www.creditkarma.com/reviews/auto-loan

8 Contributions
7 People Helped

Helpful to 2 out of 3 people

How much has your score gone up since you purchased the vehicle?

Results 1-4 of 4Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.