currently have an AUTO loan with Wellsfargo Dealer Service but I just want a different company!!!

[vayub4]

I have a car loan with Wellsfargo at around 7% APR!!! Though I think that is a little high for my score level but I got the loan when my scores were lower due to high balance on one or two of my cards and another auto loan that i just paid off.... i still have high balance on two of my cards but that's because they are on 0% APR for another 12 months...

I have had this auto loand for about 7 months and was wondering if it is possible to refinance with another company say DCU..... I could use my local credit union but I usually dont have time during the week so I am looking for something I could do online without needing to go to the bank.

I am not switching banks because of the rates really, i am switching because Wellsfargo will not allow me pay more than my monthlies. They want to **bleep** me for the full interests over 5 years..... it only took me 15 months to pay off the first ever car I financed and I believe i can pay this one off within 3 years too now that I only have one car payments to make. And with CC companies offering 0% balance transfer checks all the time I want to be able to make use of that opportunity sometimes to pay off the car but wellsfargo will not let me. 

Does anyone think I can refinance even though the loand is not yet up to a year? Do I have a shot at DCU low rate refinance?

As for my scores, I only know My transunion score for sure and it is currently at 746 according to barclays..... my discover says it is at 736 but that is because their score is from 2 weeks ago and barclays is more recent.... 

Like I said before, I have no problem with the rate at 7%, I just hate a company that will not let me pay more than my monthlies. If i ever pay more than that, they will pay off what is due and hold the rest to pay for next month.... That should not be legal in my opinion and with my scores, I feel i deserve better than that.... Every opinion will be appreciated....

Btw, the other car I just paid off reports to only equifax, which has my score at 706 on creditkarma..... It has not been updated as paid off

[Royalbacon]

My scores are around 670-680 and I got approved with DCU for 2.74% (That includes a .5% discount on having my paycheck direct deposited into my DCU checking account)

With your scores you should be able to get the 1.99%  (or 2.49 without direct deposit)  at DCU.

Penfed as well adveritises auto loans as low as 1.49

With scores 730+ you can easily get better then 7%

[vayub4]

I put in application for penfed.... Currently pending, i hope they approve me.... The only bad things on my report are inquiries

[Royalbacon]

Good luck and let us know how it goes!

[Anonymous]

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@vayub4 wrote:

I have a car loan with Wellsfargo at around 7% APR!!! Though I think that is a little high for my score level but I got the loan when my scores were lower due to high balance on one or two of my cards and another auto loan that i just paid off.... i still have high balance on two of my cards but that's because they are on 0% APR for another 12 months...

I have had this auto loand for about 7 months and was wondering if it is possible to refinance with another company say DCU..... I could use my local credit union but I usually dont have time during the week so I am looking for something I could do online without needing to go to the bank.

I am not switching banks because of the rates really, i am switching because Wellsfargo will not allow me pay more than my monthlies. They want to **bleep** me for the full interests over 5 years..... it only took me 15 months to pay off the first ever car I financed and I believe i can pay this one off within 3 years too now that I only have one car payments to make. And with CC companies offering 0% balance transfer checks all the time I want to be able to make use of that opportunity sometimes to pay off the car but wellsfargo will not let me. 

Does anyone think I can refinance even though the loand is not yet up to a year? Do I have a shot at DCU low rate refinance?

As for my scores, I only know My transunion score for sure and it is currently at 746 according to barclays..... my discover says it is at 736 but that is because their score is from 2 weeks ago and barclays is more recent.... 

Like I said before, I have no problem with the rate at 7%, I just hate a company that will not let me pay more than my monthlies. If i ever pay more than that, they will pay off what is due and hold the rest to pay for next month.... That should not be legal in my opinion and with my scores, I feel i deserve better than that.... Every opinion will be appreciated....

Btw, the other car I just paid off reports to only equifax, which has my score at 706 on creditkarma..... It has not been updated as paid off

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I wanted to ask. 

1.  What is Wells Fargo doing that prevents you from paying more than the monthly payment?

2.  Your 7% loan.  Is that for a new or used car?

[vayub4]

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@Anonymous wrote:

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@vayub4 wrote:

I have a car loan with Wellsfargo at around 7% APR!!! Though I think that is a little high for my score level but I got the loan when my scores were lower due to high balance on one or two of my cards and another auto loan that i just paid off.... i still have high balance on two of my cards but that's because they are on 0% APR for another 12 months...

I have had this auto loand for about 7 months and was wondering if it is possible to refinance with another company say DCU..... I could use my local credit union but I usually dont have time during the week so I am looking for something I could do online without needing to go to the bank.

I am not switching banks because of the rates really, i am switching because Wellsfargo will not allow me pay more than my monthlies. They want to **bleep** me for the full interests over 5 years..... it only took me 15 months to pay off the first ever car I financed and I believe i can pay this one off within 3 years too now that I only have one car payments to make. And with CC companies offering 0% balance transfer checks all the time I want to be able to make use of that opportunity sometimes to pay off the car but wellsfargo will not let me. 

Does anyone think I can refinance even though the loand is not yet up to a year? Do I have a shot at DCU low rate refinance?

As for my scores, I only know My transunion score for sure and it is currently at 746 according to barclays..... my discover says it is at 736 but that is because their score is from 2 weeks ago and barclays is more recent.... 

Like I said before, I have no problem with the rate at 7%, I just hate a company that will not let me pay more than my monthlies. If i ever pay more than that, they will pay off what is due and hold the rest to pay for next month.... That should not be legal in my opinion and with my scores, I feel i deserve better than that.... Every opinion will be appreciated....

Btw, the other car I just paid off reports to only equifax, which has my score at 706 on creditkarma..... It has not been updated as paid off

---

I wanted to ask. 

1.  What is Wells Fargo doing that prevents you from paying more than the monthly payment?

2.  Your 7% loan.  Is that for a new or used car?

---

Believe me it is for a new car....

And I have researched it online it looks like that's what Wellsfargo Dealership does.... They don't let people pay more than the monthlies.... you either pay the monthlies or pay off the balance at once.... If you ever pay more than what is due, they will save the rest and apply it towards next months payment!! I just can't stand that nonsense any more, hence the need to change banks ASAP!

[vayub4]

App with Penfed says Preparing to disburse.... Anyone know what that means?

[vayub4]

Penfed approved!!! Not only did I ditch useless wellsfargo devices, I went from 7% to 2.74%!!!!

[Royalbacon]

Congrats! 

[Anonymous]

I love PenFed they are awesome. You're HP is good for 60 or 90 days if you decide to try for another product (like a cc or personal loan).