https://ficoforums.myfico.com/t5/Auto-Loans/NFCU-auto-loan-refinance/m-p/6112976#M92237 <P>Hello! In September of 2018 I took out a $29k auto loan through Exeter at a 14% rate for 6 years. It's currently around $20k. I just recently joined NFCU (checking/savings/credit card) and saw that they have an auto loan refinance program. I was wondering if that's worth doing and what the chances of being approved are (550-600 score right now, working on getting that up in the next couple of months)? If so, should I wait a certain amount of time before doing so since I am a new NFCU customer? I really love the idea of having my checking, savings, credit card, and auto loan all with one bank (especially a bank that seems to really take care of their customers). It also wouldn't hurt to have a lower monthly payment, as I'm currently at $500/mo.</P><P>&nbsp;</P><P>&nbsp;</P> Thu, 20 Aug 2020 15:18:41 GMT Anonymous 2020-08-20T15:18:41Z https://ficoforums.myfico.com/t5/Auto-Loans/NFCU-auto-loan-refinance/m-p/6112976#M92237 <P>Hello! In September of 2018 I took out a $29k auto loan through Exeter at a 14% rate for 6 years. It's currently around $20k. I just recently joined NFCU (checking/savings/credit card) and saw that they have an auto loan refinance program. I was wondering if that's worth doing and what the chances of being approved are (550-600 score right now, working on getting that up in the next couple of months)? If so, should I wait a certain amount of time before doing so since I am a new NFCU customer? I really love the idea of having my checking, savings, credit card, and auto loan all with one bank (especially a bank that seems to really take care of their customers). It also wouldn't hurt to have a lower monthly payment, as I'm currently at $500/mo.</P><P>&nbsp;</P><P>&nbsp;</P> Thu, 20 Aug 2020 15:18:41 GMT https://ficoforums.myfico.com/t5/Auto-Loans/NFCU-auto-loan-refinance/m-p/6112976#M92237 Anonymous 2020-08-20T15:18:41Z https://ficoforums.myfico.com/t5/Auto-Loans/NFCU-auto-loan-refinance/m-p/6113084#M92244 <P class="lia-align-left">Hi, and welcome to MF!</P><P>&nbsp;</P><P>I'm not qualified to answer your question about approval chances, but I have a little experience that might address some of your other concerns.&nbsp;<BR /><BR /></P><P>I joined NFCU in early April. Within about a month, I had added a credit card, checking acct, two minors' savings accts and a CD. In early June I got a loan from them to buy a car coming off lease, which they classified as an auto refi (strange but true). They have never hinted that they wanted me to slow down. I really don't think that's an issue you should worry about.&nbsp;</P><P>&nbsp;</P><P>Their auto refi rates aren't the absolute lowest around, but they're close. They give a $200 bonus if you refi and make the first 2 months of payments. I viewed that as offsetting the slightly higher interest they charge, compared to, say US Senate FCU.</P><P>&nbsp;</P><P>The refi application process was a breeze. One phone call to NFCU's consistently stellar phone reps. They FedExed the paperwork and I got it the next day. I signed as they instructed and shipped it off to the old lender. That was that.&nbsp;<BR /><BR /></P><P>They hard-pulled EQ for the loan application. As long as you can tolerate the HP, I don't see what you have to lose by trying.</P><P>&nbsp;</P><P>Good luck!</P> Thu, 20 Aug 2020 17:26:26 GMT https://ficoforums.myfico.com/t5/Auto-Loans/NFCU-auto-loan-refinance/m-p/6113084#M92244 Curious_George2 2020-08-20T17:26:26Z