HELP! When should I refinance my car?

[S3maj]

I have had really bad credit. I believe when I started to repair it was a 530ish but after getting a USAA secured card and paying off something its has begun to go back up. I currently have a 650. I have a vehicle loan that I have financed about 23% percent or something incredible high. My car payments are 695 a month. My question to you is do you think my score is good enough now to get a better interest rate with someone or should I continue to wait? I also have one utility bill in collection but, I am disputing that at the moment because its not accurate.

[Kancerous1]

Yikes. If pay off anything in collections before attempting to refi, even if it's disputable. It may not worth the headache to fight.

[Kancerous1]

Yikes. I'd pay off anything in collections before attempting to refi, even if it's disputable. It may not worth the headache to fight.

[S3maj]

I have one item in collection due to a deployment Verizon did not honor its ETF rules in my contract. I have a dispute with Experian as we speak. I don't think I should be paying that off without first hearing what they would do seeing as how its not my fault. 

[Mrs. Wooden]

Hello I got mine up to a 680 but for Usaa it's 652 I refinanced and got a 5.99% interest rate. Your current score should get you a 9.59% the pull experian now for auto loans hope this helps.

[S3maj]

Thank you Mrs. Wooden for you response. Are you saying that USAA requires a 652 before you can refinance?

[Briana Hartzell USAA]

Hi S3maj,

I encourage you reach out to our Financial Improvement Team at 1-800-531-USAA(8722) extension 2-4483. This team concentrates on member assistance related to: debt management, budgeting and building/maintaining credit. Hopefully they can help you with the decision to refinance your car! Thank you for posting here in the community and best of luck!

[S3maj]

I have called that number numerous times ma'am. I have been on hold over an hour every time. 

[Briana Hartzell USAA]

Dear s3maj,

Thank you for following up. I have an updated number to provide (800) 245-9360 (open between the hours of 8am-6pm central time), but have also asked that a banking specialist reach out to you personally. Thank you

[Kancerous1]

You may not be at fault, but if the bill is fairly minimal (less than a thousand) then it may be worth paying off. Your credit score is severely damaged just because it's on there. It could save you a ton more on the refi