Who to refi with

[John S.]

I got my 2010 Jeep in March 2010. It just turned 3 and is now out of warranty. I was in a bad way at the time and took what I could get, a very high interest rate through Americredit, now GM Financial. I've paid on time every month, often times more than the minimum. I have 35 payments remaining for a total of $22,413.30. My payoff is $16,764.85 right now. I would love to refi and get a lower rate. I tried last year in March to get a loan through Bank of America and they basically laughed at me (Computer system denied me). I still have a bankruptcy on my credit that is now 7 years old. My scores are around 700. What are some recommendations about where to go to refi my jeep? I would love to reduce my payment as it is killing me each month.

 

Thanks!

[RBinAK]

My local credit union said if I get to 650 credit score they auto approve me for 3% refinancing or new car financing. Do you have a relationship with any of your local credit unions? Do you know which of your credit reports has the best score? If so you can call around and ask who pulls that report.

 

You would want to ask them what there policy is on bankruptcies as well.

Edited April 23, 2013 by RBinAK

[MarvBear]

I would always recommend a credit union. Just be prepared to know the way they evaluate how much they might loan on a vehicle, so you know where you stand.