Where to refinance?

[welshdan]

My current used car loan is with NFCU $24,500 @ 5.99 72 months payments are rougly $410 per month.

I've made 10 payments and balance is down to 21600.

Due to negative equity that I had to roll we are now down to 100% LTV  (NADA retail) (rapidly expanding family from 1 to 4 in 12 months )

My score is 720 with no negatives or late payments.  I've looked at Chase and Nationwide and their auto refi rates start around 3% which would reduce my payments to $386ish at 60 months, of course there is no knowing until i apply what i can qualify and the LTV may be too high for them.

Just want your guys input on where to refi? Like i said we are at 100% LTV and looking for the lowest rate possible for 60 months.

[nycplayboy78]

---

@welshdan wrote:

@Anonymous current used car loan is with NFCU $24,500 @ 5.99 72 months payments are rougly $410 per month.

I've made 10 payments and balance is down to 21600.

Due to negative equity that I had to roll we are now down to 100% LTV  (NADA retail) (rapidly expanding family from 1 to 4 in 12 months )

My score is 720 with no negatives or late payments.  I've looked at Chase and Nationwide and their auto refi rates start around 3% which would reduce my payments to $386ish at 60 months, of course there is no knowing until i apply what i can qualify and the LTV may be too high for them.

Just want your guys input on where to refi? Like i said we are at 100% LTV and looking for the lowest rate possible for 60 months.

---

You have a great credit score refinance with DCU....ASAP!!! Congratz on your family expanding...Triplets...OMG!!!!!

[Anonymous]

I would suggest DCU or PenFed

[welshdan]

Thanks for the recommendation.

I submitted an app with DCU, I assume it will be a few days and will report back, (their rates are amazing)

[Luscher]

DCU!

[nycplayboy78]

---

@welshdan wrote:

Thanks for the recommendation.

I submitted an app with DCU, I assume it will be a few days and will report back, (their rates are amazing)

---

So any update from DCU regarding your refi with them?

[welshdan]

Approved for 21600 @ 2.49% for 65 months, roughly $355 per month.

I will prObably pay $200 every 14 days to get ahead.

[nycplayboy78]

Awesome your APR was cut in half and you have money in your pocket...YIPPIE!!! DCU is AWESOMESAUCE

[Cellice]

Congrats!

[welshdan]

All the paperwork has been completed and funding approved.

Monthly payments reduced to $361.00 from $411.00.

And I can get a reduction of 1% (.25% every 3 months) just for making my paymetns on time. It won't reduce my monthly payment just reduce the interest rate.

Interesting side note with NFCU you can be paid up as many months as you want but with DCU it's a max of 3 months paid ahead.