I’ve had the car for about a year now, and i wanted to refinance, called AAA, and got declined reason being charge offs,delinquint payments, mind you I fixed those problems a year before the original loan, should I try another bank(get charged another few points off my credit score)or wait?
edwin, concentrate on tossing extra money at the loan and pay this off early. If you don’t want to do that, try your local credit union.
Auto finance is what I do for a living and your facing some problems because except you got the incorrect payments and charge offs deleted from you report they still show. That’s why the call it credit history.
Another thing your facing is depending on the term of the loan and only having it for 1-year you most likely owe much more on the vehicle then it’s currently worth.
I would suggest you try your own local bank or credit union where they know you and if you get turned down again, do what the first poster said and simply pay more (if you can) towards your existing loan and pay it off quicker and save a ton of interest.
Good luck.
a year or two is not enough time for your credit score to improve enough to get a better car loan rate – you are probably stuck with that loan until it is paid off – except your score hits 700+, forget it