Thread: Will auto refinance affect my credit score?

Hi,
A little over a year ago I bought a car and because of a bad credit score and report, the loan has a very high interest rate. I've since improved my score and have removed most bad marks from my report.

If I refinance at a lower rate, will this lower my score? I would hate for all of those on-time payments with my current loan to go away just to start over and have my score go down.

Thanks guys

No. You might take a minor ding for the inquiry just to get approved, but that would be it. If it saves you money, sounds like the right thing to me.

If you refinance in lower rates then your score is not going down. i think with the help of loan modification you can get low interest rate in your loan.
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Bad Credit Auto Dealer

you can get low interest rate in your loan.




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Used Car Loan