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Posted in Auto Loans
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should i refinance now or wait??
I am 18 years old, my score is 596 with no outstanding debts.
I have a credit card(1year) and a car loan(6months). and have been paying them both off on time for the length of each.
Since I was 18 with no credit or cosigner when I bought my car, I got an $8000 car for 72 months with a whopping 24.99%APR!!!
I took the deal because I needed a car, couldn't get a cosigner and it was the only one I was approved for.
My credit is currently building, I have no negative aspects EXCEPT 12 inquiries because the sleezy used car guys ran my credit so much "looking for the best rate."
I've heard loan companies will look past this because I was "shopping around" but im not sure if its true.
My question is, is it worth me refinancing, is it too early and will I even get approved??

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