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I refinanced my auto loan from Santander - 13.9% to DCU - 1.5% saving me a 12.5%. or 1000 in interest over the 2 remaing years.
If I known it was this easy I'd done a long time ago.
@Girac wrote:I refinanced my auto loan from Santander - 13.9% to DCU - 1.5% saving me a 12.5%. or 1000 in interest over the 2 remaing years.
If I known it was this easy I'd done a long time ago.
Congrats! I just got my DCU approval of refi as well. I went from Chase 7.49% to 1.49%.
@Girac wrote:I refinanced my auto loan from Santander - 13.9% to DCU - 1.5% saving me a 12.5%. or 1000 in interest over the 2 remaing years.
If I known it was this easy I'd done a long time ago.
That's a lot of money. Auto loans are very easy so long as you have things in order.
Nice.. Good job!!
Congrats!
Can you offer some insight into the process with DCU? I need to refi my C1 auto loans in the worst way...
Were your low scores in the past due to BK? What were your revolving balances when you applied (utilization) and how much equity did you have in your cars?
My scores were low through a divorce, high utilization and Iates , over the course of several years I have brought my score up from the 520 to 695 across the board. Once I reached that point I was in the market for a new/used car. I talked to DCU and since my score was greater than 675 they pre-approved me at 30K with 1.9 APR plus an additional .5 discount for direct deposit.
I didnt get the auto loan through DCU, the dealer gave me a better offer to use them.
Since I had a pre-approved app, I inquired about a visa, and got one at 7.5K with 8.5 apr and later on about refi my current car loan.
I did all this over the phone since I wanted to confirm that I did not want anohter hard pull. Everyone I talked to was friendly and helpful, nothing but a positive experience.
Good luck
Well done, that's putting money back in your pocket.
Congrats! That's a nice jump in rate and savings!