DCU Auto Loan -Approved :)

[DeeBee78]

Goodbye TD Auto Finance! 

Had a bit of a nightmare, where my membership application seemed to fall into the void, but finally got everything approved. Approval shows INSTANT APPROVAL, which is a great thing to see when you've worked hard to rebuild your credit.

Refi'd $18,029.42 at 2.74% APR for 48 months, cutting over a year off of my current term. Payments are $397 a month, which is less than I was paying towards additional principal on my current loan. I was approved for $21,200, so I had them add gap coverage for $295 as well. 

EQ FICO 08 is 714 right now. I'm in with DCU, so they'll probably be the only auto financing I'll use for the rest of my life, unless manufacturer incentives are lower. 

[Appleman]

Congrats and thanks for sharing your success story.

[Anonymous]

Congrats,  gotta love the credit unions.  

[Anonymous]

Congrats!

[Anonymous]

you can probably go lower to 1.99% with little more increase in score. fyi.. they have increased the minimum rates from 1.74 to 1.99. My earlier auto was dcu only with 1.74 within 2 months of starting the payment.

For my current auto loan, i m paying 3.7% with fico equifax 662 for 25K.. Hope to get it refinance it soon to below 2% levels..

[Anonymous]

Congratulations. DCU has been great for me to work with. They lowered my rate 1% with direct deposit (0.5) and 6 months of on time payments (0.25% x 2)

[pipeguy]

Congrats on the refi through DCU - that's exactly how you properly play the game !  Note too the "cost" of GAP insurance at $295 - I hope others see that figure when they get sold on GAP through their dealer at "only $10-12-15-20 a month" for their 72 and 84 month loans.