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Refinance car loan with fair/poor credit?

I bought a car in July of last year with a cosigner. I filed bankruptcy shortly after. Since filing (and before) all of my car payments have been made on time. I have also since opened a credit card that has been paid on time always and have continued to pay on my student loans on time. I currently have credit that is rated fair by two of the credit bureaus (Equifax and Transunion) and poor by Experian. I am trying to refinance the car in my name, without a cosigner, even if I have a higher interest rate, however I do not want to damage my credit by making a bunch of inquiries. Does anyone have any experience with this?

FYI- I am not looking to be critiqued for filing bankruptcy, and my cosigner is well aware that I did- don’t judge people without knowing details. Answer the question or don’t say anything.


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3 Responses to "Refinance car loan with fair/poor credit?"

  1. webjnke1 says:
    “fair” is still not that good. You’d probably still need the cosigner.
  2. Rapture says:
    Inquries are the least thing that will affect your credit
    About 1 or 2 points – up to 5 with bad credit. And they drop off your reports shortly.
    All inquiries done in a 3 week window (of a similar nature) are treated as one.
    This is to allow the customer to shop around for a good rate.
    This does not apply to credit cards
    What will lower your score is a new loan. Just like a new credit card can lower the score for the first 6 months. It is considered new credit.

    Go to a credit union or a small regional bank in your area.
    All they can say is “no”
    With that credit card, pay in full each month, since carrying balances can easily reduce your credit rating

  3. bdancer222 says:
    If you needed a co-signer before the bankruptcy, it is very unlikely that you will find a loan without a co-signer now.

    I bet your co-signer just loves that you filed bankruptcy!!

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