If you have a steady job and a clean credit history, try establishing a relationship with a Credit Union. Few can beat CU rates when it comes to car loans, and you could probably reduce your monthly payment as well as the amount your paying on interest.
If your military, take a look at Navy Federal CU. It’s the largest CU in the country.
If your not military but want to join a larger credit union, take a look at Pentagon Federal CU. Anyone can join with a small donation to their charity.
Your credit scores are ripe for changing your rates. The thing you may bump up against is you may owe more than your car is worth at only 1 year out from purchase, and many wont give you a refi loan for much more than the car is currently worth.
You would need to look at the rates that each is offering. I have also found Credit Unions to offer very competitive rates.
When I re-financed my car a few months ago, I shopped all over. No one was able to beat the CUs on used car re-fi rates.
Bank of America is a big contender in the car loan buisness, but checking the CUs when car loan shopping is a must.
Thanks for the info guys
Which CU do u guys recommend if you could list a few that'd be great
When it comes to picking a CU for credit products, my take is "the bigger the better". Check out the list below for some useful info.
As I said in my earlier post, my recomendation is based upon if you qualify for NFCU or not. If not, I recomend PenFed.
I'm not in any service so I guess that's a no no for me