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Low interest refinance bank suggestion?

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New Visitor

Low interest refinance bank suggestion?

Hello. Can anyone recommend a bank with a low interest car refinance rate? I’m currently paying 3.5% at my local credit union but they make me keep a $500 deductible on my car insurance which I don’t want. I have 750 credit scores. I’m a member of DCU but I see their rates are currently at 3.74% so I was seeing if anyone had other suggestions. Thanks!
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Frequent Contributor

Re: Low interest refinance bank suggestion?

The 3.5% might be hard to beat as interest rates are rising.  Penfed may be a little lower depending on the term.  However in my experience all the CUs require the $500 deductible on your insurance.  

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Re: Low interest refinance bank suggestion?


@MLJ1990 wrote:
Hello. Can anyone recommend a bank with a low interest car refinance rate? I’m currently paying 3.5% at my local credit union but they make me keep a $500 deductible on my car insurance which I don’t want. I have 750 credit scores. I’m a member of DCU but I see their rates are currently at 3.74% so I was seeing if anyone had other suggestions. Thanks!

In my experience almost all lenders will require that you carry comprehenisve insurance with a low deductable in order to protect their lein/security interest in the vehicle.  In much the same way, most mortgage lenders require that you have homeowners insurance.

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