CU Dropping my Auto Loan Rate!

newFICOwatcher · ‎06-28-2008

I currently have a 6.25% rate on my auto loan ($12k and 50 months approx left on it). I found out my credit union (Wings Financial) will drop my rate to 4.5% because I opened a checking account with them last week with Direct Deposit!

Just wanted to share the good news

makeynik · ‎06-30-2008

That's great! I am new to this and am just getting on top of my finances after going back to school (earning two masters back to back as a single mom!). My credit is a mess and has been for about 10 years. I have a lot of equity (about 50%) but found out I couldn't refinance cash out to pay off debt because the debt and all that went along with it was causing my fico scores to be too low! It is hard to have something but not be able to use it...So I am reading the boards and trying to make amends here. I have been employed at the same place now full time for three years, going on four, and am worried about my long commute in my 9 year old car. This forum has been great and I am going to be looking into credit unions ASAP as my score rises for the car note. Sorry so long, but feel like at some sort of AA meeting where I was in denial but now see the light! 6/30/08 TU 441 EQ 425 EX 513

6/30/08 TU 441 EQ 425 EX 513
8/01/08 TU 499 EQ 488 EX 489
8/23/08 EQ 556
9/04/08 EQ 567
11/14/08 TU 531, EQ 582, EX 509
12/29/08 EQ 620 (yea!) EX 546 TU 555
1/17/2009 TU 568 EQ 620 EX 584, 4/15/09 TU 506, EQ 612
5/24/09 TU 558, EQ 646

Anonymous · ‎06-30-2008

newFICOwatcher wrote:

I currently have a 6.25% rate on my auto loan ($12k and 50 months approach left on it). I found out my credit union (Wings Financial) will drop my rate to 4.5% because I opened a checking account with them last week with Direct Deposit!

Just wanted to share the good news

That's great news! Congratulations on your new lower rate!!!