Without even realizing it, you could be wasting money every month on your car payment.
That’s because you – like many other borrowers – could qualify for a much cheaper vehicle loan than you’ve currently got.
Your credit union is the place to refinance your auto loan.
There are three big reasons why many people find themselves overpaying for auto loans:
- It is often in the car dealer’s best interest to sign you up for a high interest loan, even when you actually qualify for a low interest loan. Dealer finance managers often receive incentives when they persuade customers to get higher interest loans than the loan they qualify for.
- Your credit worthiness might have improved since you took out your original vehicle loan. If you’ve gotten a raise or paid off debts, your credit score could have improved – qualifying you for a better loan than the one you have now.
- Your credit union could’ve gotten you a better deal all along. If you didn’t shop your credit union when you got your vehicle loan, there’s a good chance you’re paying too much.
Stop Paying Too Much: Refinance with Your Credit Union Today
If you are paying too much, there’s a simple solution: refinance your vehicle loan through your credit union.
How to Refinance Your Auto Loan
Go and see your credit union and find out if you qualify for a lower-interest vehicle loan.
If you do, your credit union will pay off your old loan, and open a new one on better terms.
You’ll save money every month.
How much you save will depend on how much you’re borrowing, the old vs new interest rate, and the term of the loan.
It’s not unusual for refinance customers to save anywhere from $20-$100 per month.
What are you waiting for? Go see your credit union today.