topic Re: NFCU Auto Refinance in Auto Loans

NFCU Auto Refinance

Anonymous — Tue, 14 Jan 2020 20:38:57 GMT

Looking for some advice on a refi with Navy Federal. Currently I have my loan with PenFed with a 7.7% interest rate. Navy just approved me for a refi but with a 12.29% interest rate. My reason mostly for wanting to refi is because I’m not really happy with PenFed as a bank mostly. Navy is offering $200 for refinancing with them right now as well.

My question is would it be smart to go through with the refi even though the interest rate is higher simply because I want it with a different bank?

Re: NFCU Auto Refinance

Jnbmom — Tue, 14 Jan 2020 20:40:45 GMT

Although you are not happy with penfed , I would never refinance to a higher rate .

Re: NFCU Auto Refinance

AllZero — Tue, 14 Jan 2020 22:47:11 GMT

Agreed with Jnbmom.

Perhaps, try another credit union for lower rates?

Re: NFCU Auto Refinance

Anonymous — Tue, 14 Jan 2020 23:17:11 GMT

I think I will wait it out maybe 6 months and see if I can get a better rate. Thank you!