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Posted in Auto Loans
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CreditNovice87

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What percentage rate should I be looking for? (Refinance)
I need to refinance my auto loan! CC says my credit score is 742. What kind of percentage rate should I be looking for. (I feel my original loan rate is way too high at about 6.5%) I'm trying to lower my payment from 545/month also.

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Well if you have a FICO score of that for the version that the lender will use and a healthy overall credit profile I would say maybe half of that interest rate that you have now is what you would be looking for. Check with a few different companies to try to find the best rate.

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Bankrate.com

You can go here to check out the market interest rates for auto refinancings: http://www.bankrate.com/funnel/auto/. This is just a benchmark of where the rates are currently.

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