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new Car Loan

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Valued Member

new Car Loan

I am so glad I paid off my credit cards when I did. My scores jumped significantly. I had planned on refinancing my car loan soon. As fate would have it, right before I purchased new tires, fixed cracked windshield and got inspection, someone sideswiped my car and it was figured as a total loss. I did receive enough to pay off the loan at least. Thank goodness.

 

So I head back to credit union for a new loan. My old interest rate was just under 13%. My new rate is 5.74%!!!!!  I had gotten pre-approved for 14k because that is about what I spent before and I wanted the payments to be around the same amount. Now I am looking at cars and most of them that I want are between 15 and 16k, so I am hoping I can go a little higher without it affecting my interest and still pay a little less monthly.

 

I knew my interest rate would be better, I just was not expecting that much better!

Message 1 of 4
3 REPLIES 3
Senior Contributor

Re: new Car Loan

Congrats!

Nov 2019


Garden goal: keep on keepin' on
Usually a faithful practitioner of AZE5or6or7; working on AZE1or2 and grumbling about it.
Message 2 of 4
Frequent Contributor

Re: new Car Loan

What a wonderful feeling, great work!

Present Day...Equifax: 767, TransUnion: 777, Experian: 774
Sept. 2016...Equifax: 652, TransUnion: 608, Experian: 597
PenFed CLOC: $500

Message 3 of 4
Established Contributor

Re: new Car Loan

Sweet!

 

Glad that your car being totalled worked out in your favor!

Doesnt always work that way, so kudos!



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