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Frequent Contributor
MrCredit
Posts: 463
Registered: ‎11-13-2008
0

Auto Loan Refi Question

Is there a bank in existance in anyones opinion who could refi a 2011 Nissan Rogue SL that has a LTV of 120% and do better than 7.99%.

 

I currently have this car financed thru PSECU with a 7.99% rate for 84 months. The short story is my wife bought her first car and got ripped off, so she needed

a new car and we had to carry the negative equity to the new loan.

 

Currently the rate is 7.99%. Payment is $589.06. Credit score is about 750. Any ideas?

 

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As of 8/23/14
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New Member
AusTex512
Posts: 5
Registered: ‎08-16-2012
0

Re: Auto Loan Refi Question

If you can qualify for membership, RBFCU.org 1.9% with that credit score, no matter the year or make. Good luck!! 

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Frequent Contributor
MrCredit
Posts: 463
Registered: ‎11-13-2008
0

Re: Auto Loan Refi Question

Her Grandpa is a member there I think. He lives in Texas. Do you know what their LTV requirement is? This is the main issue. We have a 120% LTV in the vehicle currently.

NFCU Cash Rewards $11k, WF Platinum Visa $5k, Discover $4k , Barclay Rewards MC $1.5k, Amazon $800, Walmart $1.2k

As of 8/23/14
Walmart TU FICO 648
Credit Karma FACO 668
Frequent Contributor
MrCredit
Posts: 463
Registered: ‎11-13-2008
0

Re: Auto Loan Refi Question

Do you know how they are about asking of paystubs, are they doc friendly or do they ask for everything?

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Frequent Contributor
MrCredit
Posts: 463
Registered: ‎11-13-2008
0

Re: Auto Loan Refi Question

How are they on asking for docs? Paystubs and that?
NFCU Cash Rewards $11k, WF Platinum Visa $5k, Discover $4k , Barclay Rewards MC $1.5k, Amazon $800, Walmart $1.2k

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Moderator
Revelate
Posts: 8,876
Registered: ‎12-30-2011
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Re: Auto Loan Refi Question

I think most everyone will ask for paystubs for auto loans assuming you're W-2 employed.  I'd be awfully surprised if they didn't  these days.

 

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
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Frequent Contributor
MrCredit
Posts: 463
Registered: ‎11-13-2008
0

Just a Thanks!

Just a thanks to AusTex. We applied for the loan with RBFCU and were approved. We did not get the 1.9% but instead got 2.4% on the refi which was fine with me.

Going from 7.99% to 2.40% is great in my book.  Thanks and kudos for the great tip. We cut 8 months off our previous loan and saved $30.00 a month.

 

Cheers!

NFCU Cash Rewards $11k, WF Platinum Visa $5k, Discover $4k , Barclay Rewards MC $1.5k, Amazon $800, Walmart $1.2k

As of 8/23/14
Walmart TU FICO 648
Credit Karma FACO 668

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