I financed a new Honda CR-V?
I financed a new Honda CR-V? - 1
Added (1). Financed at 12% but I was told by the finance guy that I can't refinance. I was hoping to refinance at 5.95% but he says I can't. Is this true or is he lying?
Ask him if you can ReFi at 5.96 %
Why did you agree to such a high rate? You should have shopped around before signing the paperwork. If you can find a bank to re-finance the loan there's nothing they can do to stop it. IMO, the reason he said that is to make sure you keep overpaying on your loan to his lender.
Your credit must not be that good. You should have obtained financing before you went shopping. Twelve percent may be the best rate you can qualify for with your credit.
Hi well done it will at least be reliable.
Your credit must not be that good. You should have obtained financing before you went shopping.
If you have a 12% loan, the chances of refinancing it at below 6 percent are essentially nil for the first year or two, and maybe thereafter, depending on your credit record.
Good for you
You might be able to refinance in two years. If your credit was good enough today to qualify for a 5.95% interest rate you would have been offered a 5.95% rate today.
You usually can never refinance an item that depreciates every day. If you financed through the dealership, then for sure the answer is no. The dealer always gets you by the short hairs!
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