topic Re: to remove my auto loan from NFCU? in Auto Loans

to remove my auto loan from NFCU?

Anonymous — Mon, 22 Jun 2015 16:15:58 GMT

so i have my auto loan with NFCU (had it since 07/04/2013) and it started at 9.29% then i refinanced it in april to 6.29%. my local credit union i have had since i was a young teen (09/11/2007) told me if i refinance my auto i should have an apr of around 4%

should i move it for 2%? and take it from NFCU?

Re: to remove my auto loan from NFCU?

Anonymous — Mon, 22 Jun 2015 16:58:04 GMT

@Anonymous wrote:
so i have my auto loan with NFCU (had it since 07/04/2013) and it started at 9.29% then i refinanced it in april to 6.29%. my local credit union i have had since i was a young teen (09/11/2007) told me if i refinance my auto i should have an apr of around 4%

should i move it for 2%? and take it from NFCU?

Need more information. What is your current payment and how many months left on the loan? What would the payment and term be on the refi?

Re: to remove my auto loan from NFCU?

Anonymous — Mon, 22 Jun 2015 17:02:01 GMT

um i have 4 years left or so. both credit unions will keep my duration the same. and payment went from $458 to $444 with the first refi

Re: to remove my auto loan from NFCU?

Anonymous — Mon, 22 Jun 2015 17:40:06 GMT

nvm.

Re: to remove my auto loan from NFCU?

Anonymous — Mon, 22 Jun 2015 23:07:27 GMT

@Anonymous wrote:
um i have 4 years left or so. both credit unions will keep my duration the same. and payment went from $458 to $444 with the first refi

You need to calculate the new payment with the lower APR before you can decide whether it's worth it or not

Re: to remove my auto loan from NFCU?

Anonymous — Tue, 23 Jun 2015 00:11:20 GMT

the dollar amount isn't necessarily what i am referring to. it'll be probably - $9-$12 difference. what i am wondering is is navy worth staying with...

Re: to remove my auto loan from NFCU?

Anonymous — Tue, 23 Jun 2015 01:12:26 GMT

@Anonymous wrote:
the dollar amount isn't necessarily what i am referring to. it'll be probably - $9-$12 difference. what i am wondering is is navy worth staying with...

Of course staying with NFCU is important but I don't think you refinancing your auto loan with them will in any way jeopardize your relationship with them. You'll still have an account with them

Re: to remove my auto loan from NFCU?

Maddog_ — Tue, 23 Jun 2015 01:28:45 GMT

I would recommend staying with NFCU. They are better to their members than just about any other bank or credit union from my experience. It's not worth +- 2% at this point. They have been good to you haven't they ?

@Anonymous wrote:
so i have my auto loan with NFCU (had it since 07/04/2013) and it started at 9.29% then i refinanced it in april to 6.29%. my local credit union i have had since i was a young teen (09/11/2007) told me if i refinance my auto i should have an apr of around 4%

should i move it for 2%? and take it from NFCU?

Re: to remove my auto loan from NFCU?

Anonymous — Tue, 23 Jun 2015 04:41:28 GMT

maddog_ they've been okay to me i guess. capitol credit union has done me better up until i stopped using them. NFCU has its perks but they have been a hassle to deal with with my previous refinance. idk i like how easy it is to use their app. the other credit union doesn't even have an app and i hate that.