Reported 28 days ago
Refinancing a car loan may lead to a temporary decrease in your credit score due to hard inquiries and the resetting of account age, but this impact is generally short-lived. By making timely payments and shopping for rates through prequalification, you can minimize negative effects while potentially securing lower monthly payments or improved loan terms. Ultimately, the decision to refinance should be based on current interest rates, your credit score improvements, and individual financial needs.
Source: YAHOO