Can I refinance my Ford F-150 auto loan after only a few months?

"I have a Ford F-150 with a $13,000 balance on the loan at 9.24% interest.

I got this loan about three months ago, but my credit has increased after paying off other debt.

Can I refinance this loan, or do I have to wait?"

“Unless the original loan contract stipulates a certain amount of time you must wait before refinancing, you can refinance your auto loan whenever you want.
However, you need to make sure that the original loan doesn’t have any penalties for paying off the loan early.
With your current loan at 9% interest, you can probably find something better if you shop around. Don’t forget to check out credit unions, as they can often offer the best rates.”
Eric Schad
Answered on Jun 07, 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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