Lending club- 1st Investors

[Creditjunky37]

Hi everyone, just wanted to share my quick story. I purchased a car from carmax in June and was approved by Exeter at 15.9%. I then was on Credit Karma and they mentioned lending club as a possible refi option for me with a SP for rate and new payment information, so I said why not.

Lending club offered me 9.24% at the remaining months left on my current loan and my payment came down $55/mo! 
They SP me for my offer then TU hp once you accept. Everything was done online, paperwork and all. They sent me the docs next day for e-signature and within 2 weeks, Exeter was paid off and I'm set with my new loan. Super easy and I started the process at midnight just on a whim. 
Sharing my experience for anyone that might be thinking about doing the same.

[DebtStinks]

Congrats!

What % origination fee did you pay? ...if you don't mind my asking

[blindambition]

Congrats on your refi. Situations like that are also a good reason to belong to a CU, local or national. Many can get you a low APR.

[AllZero]

Congratulations on your re-finance! Thank you for sharing the information.

[Creditjunky37]

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@DebtStinks wrote:

Congrats!

What % origination fee did you pay? ...if you don't mind my asking

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Actually, no fees. It was a great deal compared to my original loan. They worked directly with Exeter to get my payoff and I typed in my insurance company and the contacted them to verify. Everything took about 24hrs and my docs were ready for esign. I was very impressed. 

As another member mentioned, maybe a CU would have been a better idea, but this was smooth and better than where I was. Maybe in another 6 months I'll do it again  

[1prettyorchid]

Congrats! 

I just refinanced with Lending Club as well. Had Cap 1 with 9.57% and now I have 6.24% with LC and I'm saving $100/month! In 6 months I'll try with my credit union again. 

[Anonymous]

Glad to see you had a good experience, but the way they handled it is a bit fishy to me.