Refinance options (Lenders)

[scottgt500]

Hey guys!

When I purchased my GT500 (March) the rate I accepted was 3.99% for a 72 month term. The rates appear to be dropping lately. Most of my local banks/Credit Unions are close if not a tad lower now for refinancing. New car rates are lower but they are with new purchase only (TD Auto, USBank etc). Does anyone have a good source for $70,000 auto loans for refinancing? I would think @3% would be out there...I just cant find it. 60 month rates are where I would want (Mid 2%) but until this COVID-19 stuff goes away, I want the lowest payment possible.

Scott

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[Tomster]

Hey guys!

When I purchased my GT500 (March) the rate I accepted was 3.99% for a 72 month term. The rates appear to be dropping lately. Most of my local banks/Credit Unions are close if not a tad lower now for refinancing. New car rates are lower but they are with new purchase only (TD Auto, USBank etc). Does anyone have a good source for $70,000 auto loans for refinancing? I would think @3% would be out there...I just cant find it. 60 month rates are where I would want (Mid 2%) but until this COVID-19 stuff goes away, I want the lowest payment possible.

Scott

Watching this thread. Its almost time to make a transaction.

 

[AngelDeath]

I'm looking as well, preliminary from the dealer is at 3.9% (for now) but that isnt even actually putting the application in, and I cant see that being even a norm considering rates are at 0, but banks aren't going to be as nice. Scott I looked into TD Bank, but from what my bank told me they dont do Auto loans anymore. I'm curious with this as well. I am going to look into my investment firm, I saw something about 2 months ago in my email about something with 1.9% financing, think I'm going to call him and see what thats about. (Crossing Fingers).

 

[Jmeo]

I was able to get 2.49% with my bank (Bank of America) when I purchased it in December. I think their used rate was .25 or .5 more, so 3% "ish".

 

[AngelDeath]

I was able to get 2.49% with my bank (Bank of America) when I purchased it in December. I think their used rate was .25 or .5 more, so 3% "ish".

Gee I wonder if they would give me 2.49% considering I have their credit card. I just paid off 60% of my Credit cards and plan to pay off the rest by the end of June so hopefully that will help with the rate since having too high a balance (whatever that is considering my usage is only 10%).

 

[Jmeo]

Gee I wonder if they would give me 2.49% considering I have their credit card. I just paid off 60% of my Credit cards and plan to pay off the rest by the end of June so hopefully that will help with the rate since having too high a balance (whatever that is considering my usage is only 10%).

I would say it’s definitely worth looking into

 

[Mkeane]

Check out PenFed Credit union, they have 2.99 for 72 on New Refinance rates(‘19 or ‘20 model and bought new), that’s who I will finance with when car gets here

 

[Snoopy49]

Navy Federal Credit Union
New & Used Car Loan Rates

 

[Dunk812]

Navy Federal Credit Union
New & Used Car Loan Rates[/QUOT

I would use NFCU if you could almost always the best rates

 

[protraxduner]

PENFED is 2.99% new or refinance new for 72. Who i plan on using unless I find something better. There is local bank that usually does a spring special but not sure in current environment.

 

[protraxduner]

PENFED is 2.99% new or refinance new for 72. Who i plan on using unless I find something better. There is local bank that usually does a spring special but not sure in current environment.

After looking at Navy Federal i might have to sign up there, they appear to have better rates 2.29%

 

[Melange_X3]

I agree,
NFCU is great for auto loans!

 

[Jmeo]

After looking at Navy Federal i might have to sign up there, they appear to have better rates 2.29%

I assume you have to be military?

 

[jacknifetoaswan]

Navy Federal Credit Union
New & Used Car Loan Rates

When I bought my 2016, I was pre-approved from NFCU at 1.89%. The dealer was able to get me to 1.69% and gave me an extra $500 incentive, so I went with the dealer.

I called NFCU so that they could cancel the loan process, and they were, frankly, pissed that I hadn't gone with them for the loan. They wanted to know why I didn't call to see if they could do a better rate, and I just told them that if they could have done a better rate, they should have given it to me from the start. They didn't have any retort for that, but yes, NFCU is generally the best option for most loans.

I assume you have to be military?

There are a bunch of things that qualify you for a membership. Figure out how to join, it's really the best bank out there.

https://www.navyfederal.org/resourc...nce/are-you-eligible-to-join-navy-federal.php

JR

 

[protraxduner]

I assume you have to be military?

Generally speaking i think yes that is the idea, but i know some that have used PenFed with no military affiliation, i think you can get around it by being part of a military group or other military entities that support military but dont actually require you to be in the military. I do not believe they police it. Appears NFCU want military or close military family, i haven't looked into. My father was an army veteran so didn't really look into NFCU requirements very much as this appeared to suffice.

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