Is it a bad idea for me to refinance my original Honda auto loan?
My credit has improved over the last 6 months and I would like to refinance in another 6 months or so once I feel more comfortable with my score. BUT is this a bad idea? Will Honda scold me for this when I go to the Service dept for maintenance? Or will other future lenders see me as some sort of unreliable consumer moving forward? I worry about this. Any advice would be great and much appreciated!
No one in a Honda service department has any interest in or any clue about how you paid for your car.
Be sure to crunch the numbers before you refinance. Often times the payments are lower because the loan is stretched out over a longer period of time and therefore you end up paying even MORE interest than you would have if you had stuck with the original loan. The monthly payment amount will not tell you how cheap or expensive the refi is.
Will Honda scold me for this when I go to the Service dept for maintenance?
No, they won't know nor will they care.
Or will other future lenders see me as some sort of unreliable consumer moving forward?
No. Look how many people refinance their mortgage? Why pay more than you have to?
http://www.badcreditcash.net
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