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Should I get an auto loan with bad terms and refinance later?

Jordi Bennedict

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I tried to finance a car today and (as expected) I got a horrible rate. For a 2011 Corolla for $12,000, I would have a 21% apr with 350$ payments. I am new to credit and have been working on it for around 5.5-6 months. I need a car, maybe not the one, but a car to commute to work and allow me to pick up more hours. They told me if I could stick with the high payments for 6 moths, I could refinance for better terms, but I don't know if that's just salesperson mumbo-jumbo, or genuine advice. I havent gone to my bank yet (local credit union) to see if they have better rates, but would you guys say that generally, it is ok to refinance 6 months later, or not so much?

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mobilend loans which only connects with companies, but does not issue loans

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