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Can I refinance a Honda Accord if my credit score has gone up 100 points since my first loan?
"I got a car loan for a Honda Accord when my credit score was 595. The rate was 14%.
A year later, I've raised my credit score to 702. Can I refinance now, and will I get a better rate?"
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“Yes, you can and should refinance your Honda Accord.
A rate of 14% is astronomical, and realistically, you can get your rate down to the single digits.
Like you would with
car insurance
, shop around to find the best rate. Typically, this will be at a credit union, but make sure to look at banks and third-party lenders as well.”View full answer
- Gregory R.
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