Where can I refinance my auto loan with a credit score of 550 and a current APR of 9.5%?
"I want to refinance my car loan. Currently, it's 9.5% APR for 84 months. My income is around $5,000 a month, but my credit score is only 550.
Where should I go to refinance and get a lower rate?"
Answer provided by
Answered on May 28, 2021
“A 9.5% APR for 84 months with your credit score is a phenomenal deal. You’re probably not going to find a place to refinance for less than that, even if you cut your loan length down to 48 or 60 months.
However, it’s worth a shot. Check with your current lender to see what they can do for you. And, like you would with car insurance, shop around online or in person to find the best rate possible.”
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