Friday, March 17, 2023

Credit Union Auto Loan Refinance

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Schoolsfirst Federal Credit Union

DCU Digital Federal Credit Union – Auto Loan Refinancing :30

SchoolsFirst Federal Credit union has partnered with companies like Autoland and Enterprise to bring customers exclusive savings. To become a member, you must be a current or retired school employee or part of their family.

Why it stands out: Along with all the different ways to save, SchoolsFirst also gives borrowers the option of requesting an auto convenience check, which will allow you to write a check for the vehicle at the dealer up to the approved loan amount. It also offers Guaranteed Asset Protection insurance with deductible assistance and options for no payments for 90 days.


  • Offers a school employees auto loan with Summers Off, which allows qualifying members to defer one or two consecutive auto loan payments during the summer
  • Allows you to finance a car from a private seller
  • Make no payments for the first 90 days


  • Summers Off program is only available on auto loans with original terms of 60 months or less
  • Membership is restricted to members of educational communities

What to look for: SchoolsFirst Credit Union offers new and used auto loans from 36 to 84 months. APRs for new cars start at 2.49% and APRs for used cars start at 2.64%. Maximum loan amount is 100% of the MSRP or Kelley Blue Book Suggested Retail Value.

Golden 1 Credit Union

California residents can seek out competitive auto financing at Golden 1 Credit Union, which has more than 1 million members and $17 billion in assets. It offers financing and refinancing on both new and used vehicles, and loans for new and used boats, Jet Skis, RVs and ATVs. You can get preapproved for up to 30 days while youre shopping for a car, so you can compare rates and select the best deal for you. If you cant make a payment, Golden 1 members can skip up to two payments for the life of the loan.

Golden1 Credit Union offers membership to everyone who lives or works in California, in addition to the family members and domestic partners of current members those outside of California are allowed if they are in select employee groups. To become a member, you only have to open a Golden 1 savings account with a $1 deposit.

Is Refinancing A Car Worth It

Refinancing a car is worth it in many situations. If you can afford to take on higher monthly payments with a shorter term or you have access to a lower interest rate, you could save money over the life of the loan. However, auto refinancing wont always save you money and could cost you in some situations.

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Nasa Federal Credit Union

Members of NASA Federal Credit Union include current and retired employees of NASA Headquarters, any NASA Center or Facility or NAS, plus employees or members and their families of one of NFCUs partner companies or associations. They offer flexible terms and low rates for new and used car financing as well as for auto loan refinancing.

Why it stands out: One of its features is the ability for members to apply online and get preapproved quickly. By having financing already in place, members have the advantage at the car dealership because they can focus on negotiating the car price instead of the loan terms.


  • No payment required for the first 60 days
  • Check your rate with no impact to your credit score


  • Terms only extend to 84 months

What to look for: NASA Federal offers the same rates for both new and used vehicles. Rates start at 2.89% APR for up to 36 months and 2.99% APR for rates up to 63 months. Other rates and terms are available.

New And Used Vehicle Loans

Houston Credit Union Auto Loans

Enjoy low fixed rates on both new and used vehicles, with up to 100% financing,023 and terms from 12 to 84 months.024 Also available is a no payments for 90 days option.025Current rates between 3.750% APR – 4.500% APR depending on loan term.

  • No payments for 90 days option

  • No maximum model year age or mileage restrictions

  • Multiple term options up to 84 months

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What Are Membership Benefit Levels

While every member has access to most of our great benefits, the more a member does with DCU, the more those benefits multiply. Check out the information below for a detailed description of benefits by level.

Basic Member Benefits

Every member enjoys these benefits automatically:

  • No minimum balances or monthly maintenance fees
  • FREE use of 23 DCU Branches in MA/NH – and more than 5,900 shared branches nationwide
  • FREE use of 35+ DCU ATMs in MA/NH – and more than 80,000 surcharge-free non-DCU ATMs nationwide.
  • FREE use of DCU Online & Mobile Banking – carrier data and message rates may apply
  • FREE DCU Visa® Debit Card with EMV chip – upon approval
  • FREE eStatements, account alerts and notifications

Plus Member Benefits

Refinance Auto Loans: Top Providers

We recommend getting multiple refinancing offers to determine the best option for your financial situation. In our industry-wide study, our team found that these providers offer the best combination of rates, reputation, and customer experience.

Refinance Auto Loan Provider
Varies Best for Bad Credit

*The overall ratings in this chart reflect the companys score in our industry-wide insurance study and are not specific to refinancing.

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Save Money On Your Monthly Car Payments And Get Rates As Low As 424 % Apr* When You Choose To Auto Refinance Your Loan With Us

If you struggle to keep up with your current monthly repayment option or youd like to change the length of your loan, auto refinancing could be your best option. Our affordable auto refinance program enables you to keep your current vehicle with better loan terms more suitable to your current budget.

When choosing to refinance your auto loan, youll enjoy many benefits including:

  • A decrease in interest charges
  • Lower monthly payment
  • Ability to extend the length of the loan
  • Ability to remove or add as a co-signer to the loan

Navy Federal Credit Union

How to Refinance your auto loan with Navy Federal Credit Union

Navy Federal offers competitive loan rates for those who meet its membership requirements. To join, you must have a connection to the U.S. military. If youre eligible, you must open a Navy Federal savings account with a deposit of $5 to become a member.Members can apply for a loan to purchase a new or used car or refinance an existing loan from another lender. You can get preapproved for a loan and get a check to take to the dealer. Discounts are available for active duty and retired military members with direct deposit. Discounts are available on car insurance, and guaranteed asset protection insurance can be added to a new or existing loan.

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Special Savings On Eco Vehicle Loans

Gas guzzling vehicles impact the planet and your pocket, which is why many drivers today are choosing electric or hybrid vehicles as their next ride. Save on more than just the price of gas with a Suncoast Eco Vehicle Loan. Rates start as low as 3.50% APR on all electric, hybrid, and plug-in hybrid vehicles.

Suncoast Credit Union Accessibility Statement

PurposeSince early 2017 and as part of Suncoast’s commitment to accessibility for persons with disabilities, Suncoast has been working to modify and update all of its core web page material and mobile application material to include enhanced features for improved accessibility. Suncoast is committed to making reasonable modifications to its web pages and mobile application as requested by our members or otherwise as planned within Suncoasts website and mobile application remediation plan. So, while Suncoast works to improve the accessibility of its online environment, please pardon our digital “dust.”

ContactIf during Suncoast’s remediation you encounter a web page or element of our mobile application that is difficult to access, please contact us. For that purpose, Suncoast has created a process for investigating and responding to your accessibility concerns and/or questions. If you would like to contact us, please do so from our Contact Us page.

**Maximum term for APR shown displayed in months.

Purchase Or Refi My Car


Refinance your vehicle from another lender to Tower. Refinance rates as low as 1.74% APR.*

  • No Payments for up to 90 Days
  • Limited Timefor all vehicle types!

* Annual Percentage Rates are as of August 1, 2022 and are subject to change. Purchase rate includes a 0.25% discount for enrollment in automatic monthly loan payments and a 0.25% discount for using the Tower Car Buying Service with TrueCar Guaranteed Savings Certificate. Refinance rate includes 0.25% discount for enrollment in automatic monthly loan payments. Not all applicants will qualify for the lowest rate. Rates, terms and conditions vary based on creditworthiness and program requirements. Other conditions including acceptable collateral apply.


Save 0.50% off Towers used vehicle rates by refinancing your loan at Towers new vehicle rates.

  • No Payments for up to 90 Days
  • Limited Timefor all vehicle types!

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What Is Auto Loan Refinancing

When you refinance an auto loan, youre replacing your original car loan with a new one. You secure a new loan for your car, and you use that money to pay off your original loan. Your payments and interest are now made to the new lender instead of the old one. Essentially, youre transferring your debt from one place to another.

Some of the reasons people opt to refinance include:

  • Getting a better interest rate
  • Lowering monthly payments
  • Extending the terms of the loan
  • Taking advantage of equity
  • Capitalizing on no-payment periods

Refinancing an auto loan is simpler than refinancing other types of loans, like a mortgage. Many lenders dont charge origination or application fees, meaning you dont have to budget for these fees when considering refinancing. The application process is typically simple, with some lenders offering a decision in as little as a day.

Love Your Car But Not Your Auto Loan Refinance Your Auto Loan With Acu And Save

Auto Loan Refinance

At Associated Credit Union, we’re known for our great loan rates. But if you got your Auto Loan somewhere else at a much higher rate we can likely reduce your payments with an Auto Refinance. Refinancing your Auto Loan with Associated CU is quick and easy and offers significant savings. See how much you could save in the table below.

Associated Credit Union Auto Loans Feature:

  • Rates starting as low as 3.25% APR
  • No payments for 90 days
  • Refinance options for amounts starting at $5,000 for vehicles 7 years old or newer.
  • No application fees
  • Easy payment options, flexible terms up to 84 months
  • Automatic payment options and no pre-payment penalties

Simply or call us at , Ext. 2393 to get started with an Auto Refinance.


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Why Refinance With A Credit Union

Credit unions are tax-exempt nonprofit cooperatives that provide banking services. They differ from traditional banks in that all members technically own part of the credit union. Because credit unions arent in the business of making corporate profits, they can often offer better interest rates and lower fees than traditional banks. However, credit unions may not have as many physical locations, ATM spots, or loan options as people enjoy at traditional banks.

Many credit unions offer flexible loan terms and are willing to work with customers to help them save money through refinancing. Here are some additional benefits of a credit union auto refinance:

  • Lower average interest rates than the national bank average
  • Good customer service
  • Added benefits like debt protection and gap insurance coverage

You have to be a credit union member to apply for a loan, so youll need to open an account with the credit union. They typically have membership eligibility requirements, meaning you need to live in a specific geographic area or be affiliated with an employer, like a university. Find out what kind of auto loan terms a credit union offers before becoming a member. Some credit unions wrap the process into one, so you can become a member and take out your auto loan at the same time.

When Purchasing A Special Order Car When Should I Apply For A Car Loan

A pre-approval is valid for 30 days however, if the vehicle has not arrived during that 30 day period, you can submit a copy of the special order to Delta Community, and if approved, we may extend the pre-approval up to an additional 30 days. If needed, you may submit a request for extension in person at a Delta Community branch, fax to 404-677-4807 or send a message using Contact Us under the Additional Services tab within Online Banking.

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May Consider More Than Just Credit Scores

One of the perks of credit union membership is that credit unions may be more willing to work with members with less-than-perfect credit.

For example, Ryan Keene, vice president of lending at Ardent Credit Union, explains Ardents own approach.

We do look a little bit beyond just the credit score, he says. If the relationship is strong, we try to find ways to help our members, even if there are a couple of issues with their credit.

Though this is how Ardent approaches creditworthiness, its not necessarily how all credit unions will. Still, you may find that as a member of a credit union, you could have a greater likelihood of being approved without perfect credit.

With Rates As Low As 239% Apr We Can Green

Navy Federal Credit Union Auto Loan
  • Our team can help you lower your interest rate
  • Refinance with us and wait up to 120 days2 before making your first payment
  • Free up money every month to address other priorities in life
  • Fast, easy, secure online application with an immediate decision
  • We work to help you save money when you refinance your auto
  • Schedule payments quickly through Online and Mobile Banking

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How To Find The Right Car Loan

Before getting a loan from any lender, its important to do your homework. Eligibility requirements and loan details that could impact your monthly payment vary from lender to lender, so its worth taking the time to shop around.

Consider getting preapproved from multiple lenders so you can compare your options and choose the one thats right for you. But remember that preapproval is not a guarantee of financing, so youll have to actually apply and get approved before you can count on the funds.

Its also important to make sure youre working with a reputable lender. Check out the Better Business Bureau, Consumer Financial Protection Bureau and online reviews for scams and consumer complaints.

An Increase In Credit Score

A low credit score when getting an auto loan means higher interest rates. If youve improved your credit score since taking out your car loan, refinancing to access better rates is a good idea. This also depends on the financial market, since interest rates fluctuate. You may be able to get a better rate simply by waiting for rates across the board to go down.

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Average Refinance Auto Loan Rates By Credit Score

While several factors influence your auto refinance rates, your credit score is by far the single most important. Credit-scoring agencies like FICO® and VantageScore provide a rating ranging from 300 to 850 that indicates your creditworthiness or, how likely you are to repay your loan on time to lenders. Loan providers then use this information to calculate your rates.

Your credit score takes several factors into account, including:

  • Payment history: Any late or missed payments on your credit history can cause your score to go down.
  • : Generally speaking, the less of your available credit youre using, the higher your credit score will be.
  • : Having a diverse mix of credit products such as a mortgage, credit cards, and personal loans can benefit your credit score.
  • Account age: The older the average age of your credit accounts, the better your credit score.
  • New credit: Opening several new credit accounts in a short period of time can negatively affect your credit score.

Your credit score has a profound impact on your refinance auto loan rates. Borrowers with lower credit scores pay significantly higher interest rates to refinance and may have a hard time finding credit approval. The table below shows the average auto loan rates for used cars based on different credit score ranges, using data from Experians latest State of the Automotive Finance Market report.


Where To Find Refinance Auto Loans

Refi by July

Auto refinancing is a common lending product. As a result, you have plenty of options when it comes time to refinance.


Commercial banks typically offer many refinancing options. Brick-and-mortar locations can provide in-person service for customers who prefer it.

In addition, many larger institutions have user-friendly online banking services. People who have other accounts at a certain bank may find it convenient to manage their lending and other online banking services in one place.

Online Lending Providers

Its become increasingly common to find lenders that operate solely online without any physical branches. Some of these are direct lenders that serve as the online face of a larger bank.

However, youll also find auto lending marketplaces and auto loan brokers online. Rather than direct providers, these online services help line you up with lenders that offer competitive refinancing rates for your situation.


Its not nearly as common to get a refinancing loan at a car dealership as it is to get a purchase loan on a new car, but that doesnt mean its impossible. Since your car dealer regularly works with lenders, they may have access to refinancing options, too.

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