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Posted in Auto Loans
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cdwalk8

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refinacing car loan
I know this has been asked but what does refinacing do to your credit score

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You will likely see a temporary small decrease in your scores. It really depends on your credit profile and as all profiles are different, there really is no one size fits all answer to your question. You will be dinged for closing an account, you will be dinged for opening a new account because you will be reducing the average of of your accounts. On the plus side, you are gaining a paid loan on your reports and saving yourself some money. Think of it as a rollercoaster, you will dip down, but be back up after some time.

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