Recently did an auto loan refi with NIH FCU. Had an amazing experience.
Previous Loan was with VW Credit rate was 6.78% Ugh! Horrible due to high UTI when I brought my car. Old payment 647.34
New Loan is 3.49% @ 72 months New payment 358.79. I did have to go through manager approval due to LTV but because of my excellent credit and income they allowed me to go over their max of 125% and go to 140%. I was still upside down in my car. So I did end up having to do a personal loan for 9.5K @ 9.99 for 72 months at 178.31. Which makes my new overall payment of 537.10. I do not plan to keep the personal loan long I plan to sell my current property next year and will use the proceeds to pay off the personal loan. But I do want to buy a new home so I wanted to get my DTI down just incase I see something before I sell my current home. They pull EQ and they pulled me at a 748 which gets you the best rates. I think anything over a 740. They also offered me a credit card but I do not need one plus the SL was only 5500 and it was the same rewards structure as my BOA Cash Rewards.
Congratulations on the refinance and PL approval!
That definitely works and DTI is lower. Thanks for the NIH DP👍
