Do I have to wait 90 days to refinance a vehicle?

Do I actually have to wait a certain period of time to refinance? I purchased a car at a specific rate because I got $1,000 bonus cash from the dealer. I'm fairly certain that I can get a lower rate if I refinance, but the dealer told me I have to wait 90 days.

“You don’t have to wait 90 days as there’s no legal time frame to refinance. You could refinance the day after purchasing a car if it made sense.
In all likelihood, the dealer told you that you had to wait 90 days so they could collect their kickbacks and incentives from the lender or automaker.
You might want to consider how much you’ll pay over the 90 days. In some instances, spending a few extra bucks to maintain a good relationship with the dealer—the company that’s going to handle your oil changes and other maintenance covered in your original warranty—is worth the price.”
Eric Schad
Answered on Jul 29, 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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