How long should you want until you try to refinance an auto loan?

My wife had no credit when I got the loan, but she has credit now and I want to add her to the loan, but to do so I will have to refinance. This could hurt my score? But could help my intrest rate. (Currently 13%) My credit has also gotten better since the loan. It's been 7 months now, I heard I should wait until a year.

How long should you want until you try to refinance an auto loan?

This is a rough idea. Check the rates. If its lower then do it - but make sure you do it for less months (higher number less cost).

How long should you want until you try to refinance an auto loan?

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How long should you want until you try to refinance an auto loan?

dont

How long should you want until you try to refinance an auto loan?

At fifty days after signing I refinanced my last auto loan through my insurance carrier. got a lower rate and only make one monthly payment for both.

How long should you want until you try to refinance an auto loan?

whenever you can. a home loan is something different but an auto loan should be done ASAP is possible. reason being is that yes, you will add a bit more to the loan itself to cover any residual costs but, depending on how long you make the repayment period for should all work out in the end. your rate now is pretty bad and no sense in staying with it for another couple of months. doesn't hurt your score when you refi, only if you stumble on payments will it affect your score. what you can do, if your bank allows this, is to do a best score program. assuming your wife works, both of you can be added to the loan and whoever's score is the best, that score will be used to qualify for the best rate. then whoever makes the most money can further back that up and qualify the loan.

How long should you want until you try to refinance an auto loan?

don't wait - refi if you can get a better rate - shop around and be sure to try any credit unions you can get into they sometimes have good car loan rates

How long should you want until you try to refinance an auto loan?

6 months it should start showing up 'good' on your credit rating. (Providing you've paid on time and the account is in good standing.)

How long should you want until you try to refinance an auto loan?

wait the yeear and shop (negotiate your loan intrest) to add your wife you really don't ned to refinace you can just add her to the loan, banks love that 2 bird for one stone