Reply
Valued Member
Poki
Posts: 81
Registered: ‎09-01-2013
0

List of Credit Unions (or Banks) that offer auto-refinancing...

Just wondering what Credit Unions that offer auto-refinancing AND do not care much about having a "relationship" with theme. I'm wanting to re-finance my auto loan early next year, but I do not want to allocate my $ to a CU.

 

I want a lower interest rate, so that's why I'm looking to Credit Unions. Bank recommendations are welcomed also, I notice Band of America has favorable rate terms; does anyone know how difficult it may be to get BofA's low interest rate terms that they are advertising?

 

Is this realistic?

"Neither a Borrower Nor a Lender Be"
Community Leader
Valued Contributor
HoldingOntoHope
Posts: 1,057
Registered: ‎09-29-2009
0

Re: List of Credit Unions (or Banks) that offer auto-refinancing...

Since credit unions are member owned you are going to need at least a minimum share account to apply for a loan with whichever one you choose. When we talk about having a further business relationship making things easier it is merely anecdotal evidence among forum members and not a published part of their policies. All or most will allow you to apply for credit products either at membership application or immediately after approval.

 

As to being able to provide any useful recommendations to places for you to refinance we would need at least the information on your current auto loan and balance, type of vehicle and your credit information (FICO score if known, any negative history especially on auto loan, length of employment, etc.). Also if you have any near term credit goals like new cards or a mortgage that might impact the advice you are offered.

Best financial advice I ever got: "Just imagine what an adult would do and do that."

Starting Score: 500's
Current Score: EQ 701 (FICO) TU 721 (FICO) EX 715 (Quizzle)
Goal Score: 760 ALL


Take the FICO Fitness Challenge

KCK
New Member
KCK
Posts: 12
Registered: ‎07-24-2013
0

Re: List of Credit Unions (or Banks) that offer auto-refinancing...

A big part of what you want to do will be determined by your FICO score.  Allocating $ to a credit union to become a member is not a big deal, as it is usually $5-$15 to open a savings account, that you can get back later if you ever close the account.  Why are you waiting until the 1st of the year to refi, what is preventing it now?


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}