My paw always told me to check my facts before I run my mouth. I thought since I was typing not speaking the rule didnt apply. That's what I get for thinking!!

Thanks for keeping me honest.

 

There are a lot of options out there. As many have said, if you have a credit union, it doesn't hurt to ask them.

Most finance companies have a chart and they can tell you the interest rate on a re-fi. Of course they are going to want you to come in and talk with them so they can get your business, but if you are calling on the phone, just ask what the rate is with a credit score of 700.

They ARE able to give you that info but it doesn't always mean that's the exact rate you will get. It's more of an estimate and that's why some companies don't want to give out any rates on the phone at all.

Good luck with the refnance. Oh, don't worry about finance companies checking and then having points deducted from your score. Mostly that's if you apply for credit cards at many different companies. Applying for a loan doesn't look as bad and doesn't effect score like a cardit card.

One more thing to remember, if it comes down to them questioning something on your report, explain it to them, don't try and hide something. The person(s) making that final decision WILL understand if you explain things. If for some reason they were to ask about several credit inquires all within a few days, explain you are looking for the best rate. They will understand this. They are in business to loan money and want to do what they can to get your business as long as you are not a very high risk.

 

My credit union is good on auto loans, but motorcycle is 8.25%. HD credit did better than that for me.

 

I can get one of the best rate from my insurance agent through State Farm. Check that route. You might be surprised.

 

17%!!!! CHEESE 'N' CRUST that's a lot!!! Try your credit union or you will be upside down on that bike and paying on it for the next 44 years!

 

+1...got mine refied for 4.25% at my CU, after about a year with HD Credit at 7.9%

 

Actually many financial advisers recommend this..but ONLY if your employment etc is very secure.....

 

Not any more! Bank of Mom & Dad closed when youngest got her a real job.

 

I originally financed my bike thru HD credit and the rate was around 16% for 7 years. I had just divorced my ex wife and she shot my credit to hell. A year later I refinanced my bike at my credit union for around 10% for five years. It knocked off about $30/mo and cut the term by about a year. Last year, I refinanced it again for 4.9% and it knocked another $20-30 off my payment and saved a ton more interest.

 

The difference of a $25,000 15% loan for 5 years over a 5% loan for 5 years is $7378. You're paying almost $7500 more. That's almost $125 more each month.

$20,000 Loan at 15% over 5 years. Interest: $8547
$25,000 Loan at 15% over 5 years. Interest: $10,684

$20,000 Loan at 10% over 5 years. Interest: $5496
$25,000 Loan at 10% over 5 years. Interest: $6870

$20,000 Loan at 5% over 5 years. Interest: $2645
$25,000 Loan at 5% over 5 years. Interest: $3306