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new Car Loan

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
Senior Contributor

Re: new Car Loan


F8 EQ: 805 | EX: 800 | TU: 795 | Accounts: 0/6 2/12 9/24
Happy practitioner of AZE5or6or7or8
Message 2 of 4
Frequent Contributor

Re: new Car Loan

What a wonderful feeling, great work!

Present Day...Equifax: 771, TransUnion: 789, Experian: 753
Sept. 2016...Equifax: 652, TransUnion: 608, Experian: 597
PenFed CLOC: $500
Message 3 of 4
Established Contributor

Re: new Car Loan



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

Doesnt always work that way, so kudos!

[Penfed Platinum Rewards 10k][TD Ameritrade-2k][BOA Cash Rewards 22k][NFCU cashRewards 33k][TDcash 5k][IHG 14.2k][BOA 15.8k][Amazon Prime Store 10k][Amazon PrimeVS 500][Amex BCE 6k][WellsFargo CashWise 14k][PNC Core 24.5k][WalmartMC 11k][SearsMC 15k][Lowes 35k][Toyota 21k][Capital One 5250][BP 10k][Home Depot 24.2k][Chase FU 6.6k][Discover 22.5k]
- [BOA CR $12.5k][Amex SC+ $13.5k][Amex B4B $35k][Chase Ink $45k][PNC $26.5k]
BT'oholic and OPM Lover! Chunk'n it hard and often!
Message 4 of 4
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