If I refinance my car for a lower interest rate dos that help improve my credit score?
stupiddum1 asked:
my credit score
the loan will be paid off and refinanced by another bank at a 2% lower interest rate
Charlie
my credit score
the loan will be paid off and refinanced by another bank at a 2% lower interest rate
Charlie
Benjamin
you can’t refinance a car – it’s probably worth less than the loan balance due to depreciation – 2% on a car loan is not going to save much per month
Lauren
yes it should. But you have to make your future pmt. on time also.
Walter
no it won’t affect your score, but it will save you money. I had an outrageously high interest rate and was able to save money by refinancing, but it didnt do anything to my credit score.
Ashley
I DON’T THINK SO. A DEBT IS A DEBT, NO MATTER WHAT THE INTEREST RATE IS THAT YOU ARE PAYING.