Refi ??

[kuku4koco]

Is there any point in refinacing a 4.01% rate?  I thought that was pretty good, but I hadn't purchased a vehicle in 11 years...  

(until 2 months ago )

Of course a savings is a savings...  But, I have no idea what I'm doing...  

I'm pretty sure Penfed is out of the question, 7 yr post discharge BK-7.

Just curious if I should try to get a lower rate or if this is as good as it gets (for right now)...?

What other info do you need to help answer my question?  Thanks in advance!!

**My scores have improved slightly since then... fwiw

[Anonymous]

There is always a better rate but that is dependant on year of the car.  So let me ask, what year is the car you are looking to refinance?

[kuku4koco]

It's a 2014.

[Anonymous]

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@kuku4koco wrote:

It's a 2014.

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That rate is not bad based on the year of car.  You can still get a lower rate but not by a big margin.  Remember, it will be dependant on your scores and another factors.  So you decide if it is worth your while to shop for it.

[kuku4koco]

@ Yes-its-me... Thank You!! That's what I needed to know!! 

[Anonymous]

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@kuku4koco wrote:

@ Yes-its-me... Thank You!! That's what I needed to know!! 

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Hahaha.. You are welcome!!

[Anonymous]

My guess, just a guess is you could potentially save .5% , I don't think Penfed is out actually, I believe they just require 2 years out of bankruptcy.

[Anonymous]

I just refinanced my 2015 corolla from 4%( 70 months remaining ) to 2.49% / 70 months with consumers credit union.IL. This is 5 months after the original loan with Toyota Financial. They sent me a pre qualification email ,and seemed to know the details about my monthly payment lol! I reduced 15 $ monthly payment and getting 700$ gap refund from dealer since i took a gap waiver from consumera cu. So yeah i am very happy i could save 1.5% from 4% to 2.49%  Navy and penfed were giving 4.25 to 5 plus which was not exactly apr ' reduction' than what i had. So yeah you can definitely try with consumers cu or any other cu. My fico 8 are  740 TU, 710 EQ,729 EX. I think my auto fico scores are in 690s. I guess over all i would be saving over 800$ in interest plus consuners cu offered 50$ reward for refinancing. Navy offers 200$ if you can get lower apr.