Refinance Success

[amh783]

Hi all,

Just wanted to share a recent success with you.

I just successfully refinanced my auto loan that I opened in 2/2011. Original loan was $14,417 at 12.45% for 60 months. $325mo/60mo. I had a score in the mid 500's.

After rebuilding, I just refinanced at my local Credit Union for $13,296 at 3.99% for 48 months. $299/48mo. They pulled a 687 TU.

FYI Tiers were 700+ 2.99, 680-700 3.99, 680-?? 6.99

[Anonymous]

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@amh783 wrote:

Hi all,

Just wanted to share a recent success with you.

I just successfully refinanced my auto loan that I opened in 2/2011. Original loan was $14,417 at 12.45% for 60 months. $325mo/60mo. I had a score in the mid 500's.

After rebuilding, I just refinanced at my local Credit Union for $13,296 at 3.99% for 48 months. $299/48mo. They pulled a 687 TU.

FYI Tiers were 700+ 2.99, 680-700 3.99, 680-?? 6.99

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Outstanding and congrats.

Also its good that you took the discounted rate and used that to take your loan on a shorter term instead of taking the new loan out for 60 months as well.

[CS800]

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@amh783 wrote:

Hi all,

Just wanted to share a recent success with you.

I just successfully refinanced my auto loan that I opened in 2/2011. Original loan was $14,417 at 12.45% for 60 months. $325mo/60mo. I had a score in the mid 500's.

After rebuilding, I just refinanced at my local Credit Union for $13,296 at 3.99% for 48 months. $299/48mo. They pulled a 687 TU.

FYI Tiers were 700+ 2.99, 680-700 3.99, 680-?? 6.99

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WE have the same situation. I bought a car around the same price as you last year but i have 14.5% interest. Bought the car when my FICO's were low 500's. Right now it seems that half of what I pay goes to interest and I have a 60 months too.

Hopefully by the end of this year I can refi to a 36 or 48 months for at least half the interest rate that I have right now.