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Member
Posts: 19
Registered: ‎07-29-2007
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Auto Loan Credit Union??

I have a auto loan in my name for my wifes vehicle...My question is the loan is about 2 years old and down to about 11,000 owed...should i refinance with my credit union now that im a member...or stay with chase
Regular Contributor
Posts: 171
Registered: ‎05-18-2007
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Re: Auto Loan Credit Union??

Who has lower rates and is your credit better than when you first got your car?
For age and want, save while you may; no morning sun lasts a whole day.
--Benjamin Franklin
New Visitor
Posts: 1
Registered: ‎08-02-2007
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Re: Auto Loan Credit Union??

We refinanced an ATV purchase that was originally through Yamaha after 2 years through a local credit union once the low interest introductory period was over. The interest rate offered by the credit union was significantly less than Yamaha was offering. We later used the credit union for an auto loan and again received a significantly lower interest rate than anyone else was offering. One of the nice things about our CU was that if you are applying as husband and wife they used the higher of the FICO scores to determine the interest rate. Don't know what your CUs policies are. I would definitely check it out if you can get a better interest rate. One issue you may run into though is that our credit union would only loan based on the value of the car and if you were upside down when you originally purchased, you may not be able to get enough to pay off the existing loan.
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