Asked by John  |  Submitted July 15, 2017

I have a high interest rate auto loan. My credit score has gone up from 540 to 620. Should I refinance now?

I've made all payments on time for the last 16 months.

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  Answers  |  1

July 31, 2017

Depending on how high your interest rate is, along with how old your vehicle is and the miles on it, it may make sense to wait until your score is over 700, as that will qualify you for tier 1 financing.

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