Refi with Navy Approved!

[Anonymous]

Well my last auto post on this forum was about getting approved for a new $60,000 auto loan with Navy even with a repo on my credit report. So I decided to apply again to get my other auto refinanced with them and they approved it as well. The car is a 2016 and I owe $17,000 on it. The old loan was through Bridgecrest with an interest rate of 24%, ouch! Navy just approved the refinance for 48 months at 5.49%, this lowered my payment by $176 per month on this loan. Good bye Bridgecrest! I no longer have any high interest rate auto loans and I am so thrilled. I LOVE Navy!

[OmarGB9]

Congrats!

[KLEXH25]

Congrats!! Refinancing to better terms is so rewarding

[AllZero]

Congratulations on your refinance approval! That's an excellent rate decrease.

[Anonymous]

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@Anonymous wrote:

Well my last auto post on this forum was about getting approved for a new $60,000 auto loan with Navy even with a repo on my credit report. So I decided to apply again to get my other auto refinanced with them and they approved it as well. The car is a 2016 and I owe $17,000 on it. The old loan was through Bridgecrest with an interest rate of 24%, ouch! Navy just approved the refinance for 48 months at 5.49%, this lowered my payment by $176 per month on this loan. Good bye Bridgecrest! I no longer have any high interest rate auto loans and I am so thrilled. I LOVE Navy!

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CONGRATS!!!!!!!!!!!!!!!!

[Mr_Mojo_Risin]

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@Anonymous wrote:

Well my last auto post on this forum was about getting approved for a new $60,000 auto loan with Navy even with a repo on my credit report. So I decided to apply again to get my other auto refinanced with them and they approved it as well. The car is a 2016 and I owe $17,000 on it. The old loan was through Bridgecrest with an interest rate of 24%, ouch! Navy just approved the refinance for 48 months at 5.49%, this lowered my payment by $176 per month on this loan. Good bye Bridgecrest! I no longer have any high interest rate auto loans and I am so thrilled. I LOVE Navy!

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This is excellent news! I know what it's like to have an interest rate like that. Navy helped me out tremendously also!  

Congratulations!

[Svthhvn]

Congratulations! Was your approval instant? I too applied yesterday for a refi. Got a text saying more info was needed and I would get a call and/or e message within 1-3 hours but I have received neither. On website app just shows under review. 😐 Just wondering if this is a denial...

[bbeaver2013]

congrats on your double approval with navy. mine and my wife's car both have 16 and 17 percent interest rates. i have already tried to refinance mine but was turned down due to insufficient credit history and not having the loan long enough. hopefully in august i'll be able to refinance both cars one will be a year old loan and the other 6 months. my local credit union is offering 3.95 for refinance.

[Credit4Growth]

👍 That was a great move as well as great savings!

Congratulations! 

[Anonymous]

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@Svthhvn wrote:

Congratulations! Was your approval instant? I too applied yesterday for a refi. Got a text saying more info was needed and I would get a call and/or e message within 1-3 hours but I have received neither. On website app just shows under review. 😐 Just wondering if this is a denial...

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My approval was not instant, I received a message that said they would get back to me usually within 2 hours. It actually took about 5 hours but then I got the approval. And just like you it said "under review" until they informed me of the approval. What's interesting though is that on my other Navy loan for the new car they gave me an instant approval for $61,000. Bizarre.