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!


Posted in Auto Loans
Profile Image

Question By

0 Contributions
0 People Helped
Should I wait to refinance auto loan?
I currently have a very poor credit score due to 9 late payments (8 were from two separate student loans (4 missed payments each) and one was from a credit card that an auto-payment didn't go through 5 years ago. I am unsure if I can dispute the student loans as I was unaware of them until I bought my car. Long story short they sent to my mothers address who never informed me. Haven't updated license due to moving in a few months again. Anyways right now I'm paying 12.67% APR on my 2016 SUV with 65 months left. I keep getting mail about 8.29% APR but am trying to hold off to get my score as high as I can. I purchased my vehicle 8/15. Since then 3 collection accounts from High School have rolled off. I now have 3 left $332 total in collections due to roll off early next year. I have 12 hard inquires from the last 2 years from my car, apartment, utilities, etc. Will refinancing auto loan cause another hard inquiry? I also had opened a Capt.One Secured credit card that I use to pay gas >10% then pay off monthly. Score creeps up extremely slow. How much do you think I can improve this and how soon?

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

View your scores and reports anytime.


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.