DCU Refi Approved

[wreith]

I have a 2008 Chevy Malibu with approx 120,000 miles that I still owe $9300 on.  MY payments are $237 a month with 46 months left @ 8.05% with USAA.  I decided to ask DCU to refi it and I went through the application over the phone with a really nice CSR.  I now have a new payment that is higher, $251 but at a 1.74% APR now.  It also went from 46 months left on the loan down to 40 months.  I'll have roughly a $900 savings in interest over the remainder of the loan.  I guess in about another year and a half I'll do a new car purchase through them.  I rate could have been .5% lower with DD, but I chose not to do that as I am happy with USAA overall as my primary bank.  I just have to email them my paystubs, registration, and proof of my payments to USAA.  Should have all that done by this weekend.  I was also pre approved for a $3K CC with a 11% APR, or a rewards CC with a 15% APR, I turned it down as I don't really need another CC at this time.

[juggalo9er]

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@wreith wrote:

@I have a 2008 Chevy Malibu with approx 120,000 miles that I still owe $9300 on.  MY payments are $237 a month with 46 months left @ 8.05% with USAA.  I decided to ask DCU to refi it and I went through the application over the phone with a really nice CSR.  I now have a new payment that is higher, $251 but at a 1.74% APR now.  It also went from 46 months left on the loan down to 40 months.  I'll have roughly a $900 savings in interest over the remainder of the loan.  I guess in about another year and a half I'll do a new car purchase through them.  I rate could have been .5% lower with DD, but I chose not to do that as I am happy with USAA overall as my primary bank.  I just have to email them my paystubs, registration, and proof of my payments to USAA.  Should have all that done by this weekend.  I was also pre approved for a $3K CC with a 11% APR, or a rewards CC with a 15% APR, I turned it down as I don't really need another CC at this time.

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nice refi and cc approval congrats

[Creditaddict]

I would have taken the credit card just to build that relationship more and since it's same hp.

i might try to pay that auto faster too... 40 months left and already 120k miles... that would worry me.

[wreith]

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@Creditaddict wrote:

I would have taken the credit card just to build that relationship more and since it's same hp.

i might try to pay that auto faster too... 40 months left and already 120k miles... that would worry me.

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I didn't really need it, I have enough.  My DW was sure shocked to hear me say that LOL.  I'm giving it about a year and a half them I'm trading it in.  I'm looking at the 2015 mustangs with hungry eyes  

[wreith]

I just got off the phone with a really nice young lady at DCU.  They got all my documents and we moved ahead with the finalization of the loan.  The terms are 9398 for 40 months @ 1.74%.  My payment is actually going to be less than they told me when I first applied $242 instead of $251.  That is only $4.00 dollars more a month than I'm paying now and will be paid off 6 months earlier with a savings of over $900 over the remainder of the loan.  I do plan on trading it for a new car in about 1.5 years.  So far so good with DCU.

[Anonymous]

Great refi and cc approve!