Hi guys/girls,
First off, thanks to all participants in this sub. It has become my most frequented, and I spend countless time here daily. Even if experiences are not my own, I try to learn from everything I read here.
So, regarding the car. I was in a bind when I purchased; I needed something dependable quickly. I ended up with exactly that, which is great, however my credit made this a very unfriendly deal. My only option was a 7 year term at something absurd like 18%. The only good news here is while I was starting an internship as a software developer, I was also working part-time at a car dealership so the total price was a great deal, only around 14k, for a 2014 Fusion with only 30k miles, and a 100k mile warranty. I am coming up on my third year in the term having not missed a single payment. However my credit has not budged whatsoever. I have zero credit card debt, all my bills are paid on time, and the only things hurting my credit are a few poorly timed medical bills that came at a time without insurance(ranging 5-7 years ago).
Without inadvertently turning this into a credit recovery discussion, does anyone have any advice on how I can possibly refinance, and hopefully lower the payments or shorten the term? Like I said, I read this sub every day, and I could be using that money for emergency funds, IRAs, index funds, etc. I am open to just about anything short of selling the car(this would take some major convincing).
Thanks in advance for reading, and any insight that can be offered. I really value /r/personalfinance's opinion, and hopefully something positive will come of this post!
Thanks
Submitted January 06, 2017 at 06:31AM by SoulSerenade29 http://ift.tt/2iIPcaF
