With all of the good reviews about DCU I went ahead and refinanced my vehicle with them as of today. My old loan was at a 8.7% interest rate and the new loan is at 4.99%. They offered 4.49% if I did direct deposit but I work for a small company and they don't offer that. They pulled Experian which was at exactly 700. Very happy with the new terms and building a relationship with DCU.
@DaveInAZ wrote:
@mmajer4211 wrote:With all of the good reviews about DCU I went ahead and refinanced my vehicle with them as of today. My old loan was at a 8.7% interest rate and the new loan is at 4.99%. They offered 4.49% if I did direct deposit but I work for a small company and they don't offer that. They pulled Experian which was at exactly 700. Very happy with the new terms and building a relationship with DCU.
Congrats, but are you sure they pulled Experian? I've never known them to pull anyone but Equifax.
Your small company employer doesn't offer direct deposit??? So they still pay by paper check?
UPDATE!! You guys are correct, they pulled Equifax. I was mistaken because I got the alert through Experian. Sorry about that!! And yes my company still does paper checks. It's a complete hassle.
@rprisco wrote:
OP, may I ask what documentation, if any was required? Thanks.
I had to send in a recent pay stub (within 60 days) and also a copy of my drivers license. It didn't need to be my drivers license but some sort of government issued ID for address verification I believe. Overall it was a pretty easy process. It did not take long for them to approve. The only thing that took a while was the approval for memebership. I applied on a Friday afternoon and apparently they work banker hours and did not approve the membership until Monday morning. LOL. I found it odd they approved the loan so quickly, same day, but not the membership.
Congrats on the refi!!
