Can I refinance a Honda Accord if my credit score has gone up 100 points since my first loan?

"I got a car loan for a Honda Accord when my credit score was 595. The rate was 14%.

A year later, I've raised my credit score to 702. Can I refinance now, and will I get a better rate?"

Answer
“Yes, you can and should refinance your Honda Accord.
A rate of 14% is astronomical, and realistically, you can get your rate down to the single digits.
Like you would with car insurance, shop around to find the best rate. Typically, this will be at a credit union, but make sure to look at banks and third-party lenders as well.”
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Eric Schad
Answered on Jun 03, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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