SDFCU auto refinancing approved !!

[Bippy_33]

I decided to get my car loan refinanced with SDFCU because Cap1 is notoriously slow in reporting ( always 2 months behind ) and because I wanted a lower payment so, I pulled the trigger with SDFCU and was approved. I have $7,368.37 left to pay on it and they approved it for $8000. I joined SDFCU in March of 2020 got the secured card right away for $ 500.00 and it graduated to unsecured in May with a $500.00 cli taking it to $1000.00 so, I figured since they did that I'll try my luck with auto refinancing and they approved it. Payments will be $169.00 for 48 months from $217.00 that I was paying. ") Also, the score when they pulled last night was 692 !!

[Bippy_33]

I've been with SDFCU for 1.4 years now. I got their secured card after I became a member and it has since graduated so, what I would like to know is this >>> Is there a certain amount of time that has to pass after my discharge which is already 1.6 years now for them to approve auto refinancing ? I want to pull the trigger on it but, I would hope someone would have some input on that before I do it ?? I figured since they graduated my visa I might stand a chance at auto refinancing so, if anyone can chime in on that it would certainly be appreciated. Thanks !!!

[dunn2500]

maybe call them and ask.....everyone is different and so many variables, but a customer service rep should be able to give something to go off of

[Bippy_33]

I was going to do that but, I thought I'd see if anyone had any experience with it 1st. I appreciate the advice !   

[blindambition]

Congrats on the refi approval!! Looks like you're building a nice relationship with them!

[pizzadude]

Congrats on the refi and dropping your payment!   What was the difference in the interest rates?

[Bippy_33]

@pizzadude  I believe cap1 was 6.27 % & SDFCU is at 3.2 %

[pizzadude]

---

@Bippy_33 wrote:

@pizzadude  I believe cap1 was 6.27 % & SDFCU is at 3.2 %

---

That's great!  You halved your interest rate

[Papa_Bear]

Outstanding! Congratulations!

[Bippy_33]

I got approved for refinancing so, Mods you can close this out if you like !!