DCU Refinancing

[RushXTC]

Has anyone refinanced a car with them?

If I'm out in Los Angeles, Do they send someone to appraise it and see the mileage and the condition of it?

[Creditaddict]

---

@RushXTC wrote:

Has anyone refinanced a car with them?

If I'm out in Los Angeles, Do they send someone to appraise it and see the mileage and the condition of it?

---

banks just use the book value and take your word on miles and DMV records.

[Remember0]

DCU uses NADA Retail and asks you to state the mileage. I've never heard of an appraiser being sent. I think formal appraisals are only for mortgages...

[wreith]

I just refi'd my car with them.  They just asked me about my mileage and what options I had on the car.  No inspection or anything like that.  I did mine over the phone took about 15-20 minutes.  I had all the information ready though 10 day payoff number, vin, loan number routing and account number for the payoff.  I was logged into my banks, USAA who had the loan, while on the phone with them.  Made the whole thing pretty streamlined.  Still have to email them some documents but pretty painless.  Hope this helps.

[staifokuzed]

As stated pretty painless.  They ask you some basic options questions, vin, payoff, mileage.  I apped online via preapproval.  Waited couple days and called in.  I have about 20% loan to value.  Not sure how the act when your at or close to 110% LTV.  I was on hold longer than I was on the phone with Loan Officer.  My ugly 8.83% is now a beautiful 1.74%.  Signed the Docs electronically.  Logged on to my account a few hrs later and the loan was already listed.  So I made my first payment.  The payment was instant.  They do like to verify income & residency so you may have to mail or fax that to them.  I will have to fax proof of insurance (with them as the lien holder).  Also something with title.  This is my first refi and they made it super easy.  Next car purchase i will be going straight to them.  Oh you may even be offer a visa if u dont already have one.  They offered me one but declined because I have no use for it at this time.  

[DevotionToU]

Congrats on the great rate!

[RushXTC]

---

@staifokuzed wrote:

As stated pretty painless.  They ask you some basic options questions, vin, payoff, mileage.  I apped online via preapproval.  Waited couple days and called in.  I have about 20% loan to value.  Not sure how the act when your at or close to 110% LTV.  I was on hold longer than I was on the phone with Loan Officer.  My ugly 8.83% is now a beautiful 1.74%.  Signed the Docs electronically.  Logged on to my account a few hrs later and the loan was already listed.  So I made my first payment.  The payment was instant.  They do like to verify income & residency so you may have to mail or fax that to them.  I will have to fax proof of insurance (with them as the lien holder).  Also something with title.  This is my first refi and they made it super easy.  Next car purchase i will be going straight to them.  Oh you may even be offer a visa if u dont already have one.  They offered me one but declined because I have no use for it at this time.  

---

Congratz on the new rate!

Also, Thanks everyone for the very useful information!