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| *Loan,banking and credit>>>auto loan |
When you refinance your auto loan, does the old finance company show your debt as paid in full? |
I am curious as to how a refi is reported to the credit bureaus. When you refinance your vehicle, your upcoming finance company will have paid off the balance of your loan from your old creditor and assumed the loan according to the conditions you agreed to. ( ie...new interest rates, length of loan, etc. ) So you will show your previous account as being "paid off", and it will reflect so on your credit report. |
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