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Posted in Auto Loans
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Question By
Laborsmith1

6 Contributions
18 People Helped
Should I refinance or wait
Currently I am paying$534 with an int rate of 9.6 percent. Bought the car in January brand new with a credit score of 580/620 and now it's at 645/687. Should I keep paying the car at the current rate, then buy my dream car in 12-18 months OR should I refinance now to save money and then purchase my dream car in 12-18 months. Either way, I'm getting rid of this car. Just want to know which option will render me a better outcome. FYI depreciation on my current car is very high.

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Top Contributor
15 Contributions
3 People Helped

If your credit score is much better refinance now, I went  through blue harbor they hooked me up with Kinecta credit union , I went from 14% to  5%, my payment is lower and gap insurance is included and they did not extend my payments, the newer your car is and the less miles the easier it is to get refinanced ,as long as you have made all payments on time , continue to do so and your dream car will be much cheaper

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