I just refinanced with Navy Federal and they sent me a check made out to myself and Wells Fargo Dealer Services to cover the outstanding balance on the loan. My question was do I deposit this into my account and pay or can I just take it to a Wells branch and pay off the vehicle there?
Never done this before and I figured they would just send the check directly to Wells.
Starting Score-(01/2017): FICO ||EX:575--EQ:549--TU:588|| Current Score--(04/2018): FICO ||EX:686--EQ:697--TU:715||
Alright I figured everything out. I was at work and my wife was telling me info. You sign and send the check to the previous lender with a signed letter.
Then the title is sent to the new company and the new loan starts! Just never experienced it before. Navy Federal was really cool and they made the check out for 14 days of additional interest just in case.
I'm sending certified mail to finish this on Wednesday. Will really enjoy the $40 savings a month.
Starting Score-(01/2017): FICO ||EX:575--EQ:549--TU:588|| Current Score--(04/2018): FICO ||EX:686--EQ:697--TU:715||