Refinancing Auto Loan w/good credit

Anonymous · ‎02-09-2018

Greetings,

Rather than dredge up an old thread, I thought I'd just ask here: does anyone have a suggestion for refinancing a low LTV auto loan. My current rate is 3.9% over 5 years, remaining balance is ~12K and I plan to pay it off in a year.

My main reason in wanting to do this is I simply can't stand dealing with Wells Fargo any longer. This pretty much details the reasons why: http://ficoforums.myfico.com/t5/Auto-Loans/Stay-away-from-Wells-Fargo-Dealer-Services/td-p/4542550

It's even the small amount of money that it's cost me, it's just the principle (pun not intented). I've burned several hours of time just the get the payments applied correctly, and I'm over it. I don't mind a couple of hard inquiry hits at this point, not financing anything for the foreseeble future. Any recommendations for someone to use for auto re-finance?

Thanks!

DeeBee78 · ‎02-09-2018

wrote:
Greetings,
Rather than dredge up an old thread, I thought I'd just ask here: does anyone have a suggestion for refinancing a low LTV auto loan. My current rate is 3.9% over 5 years, remaining balance is ~12K and I plan to pay it off in a year.

My main reason in wanting to do this is I simply can't stand dealing with Wells Fargo any longer. This pretty much details the reasons why: http://ficoforums.myfico.com/t5/Auto-Loans/Stay-away-from-Wells-Fargo-Dealer-Services/td-p/4542550

It's even the small amount of money that it's cost me, it's just the principle (pun not intented). I've burned several hours of time just the get the payments applied correctly, and I'm over it. I don't mind a couple of hard inquiry hits at this point, not financing anything for the foreseeble future. Any recommendations for someone to use for auto re-finance?

Thanks!

I refi'd an 8.64% loan with DCU last year. Got it down to 2.74% with a ~710 EQ 05 score.

arizonahd · ‎02-15-2018

Same situation here with the same apr. For me though, I want to just save money. Anyone have any recent luck with DCU? I have never refinanced a car loan before, but with it being 40k I would stand to save $50~ a month with even a 1 point decrease. 800 scores for myself and my wife.

arizonahd · ‎02-16-2018

So I bit the bullet and refinanced with DCU. Got a 2.49 interest rate which is not bad! I am actually paying a little bit more each month since it's a 65 month loan instead of an 84 but well worth the savings. You do have to have a direct deposit to get the 2.49. I might just switch everything over to them (currently with Wells) and see how it goes.