TruWest® Credit Union Creates Auto Loan Program Geared Toward Underserved EON: Enhanced Online News (press release)
TEMPE, Ariz.--( EON: Enhanced Online News )--TruWest Credit Union recognizes that times have been tough with the deflated housing market and increase in unemployment. And on a broader scale, the turmoil with the national deficit and stock market issues are compounding an already dreary financial outlook for many. Despite the even more negative perceptions of banks and other lenders taking advantage of consumers during these strained times or only offering loans to those with pristine credit, TruWest is providing a ray of light by offering a new auto loan program that offers incredible rates – even for those who have had a few dings on their credit report.
Now, more than ever, people are looking for ways to save money. From clipping coupons to signing up for local deal emails, people are turning to as many resources as they can to cut costs. But what they may be missing out on is reducing their interest rate and monthly payment on their auto loan. Those who may have experienced some issues with their credit in the past can have a tough time getting approved for a low interest rate.
Refinance Help. Fill this form and get help!
Auto Loan Advice : How to Refinance a Car
Refinancing a car for a good interest rate can be done at a bank or credit union but can depend on an individual's credit score. Use secondary ...
What credit union will refinance a auto loan with credit score 570?
I am with Patelco credit union and you have practically jump thru hoops to do ANYTHING. I can't even get a check card without them runnin my credit report. My account is in good standing. Only reason I openned is to establish a relationship to get a loan, but if I can't get a check card what else can I do?
Normally with a score under 600 you will probably need to get money down on the car before they will give you a loan. Try getting at least 10% down on the car.
16% is not a bad rate for your score, you just need to keep making the payments until you have at least 12-18 made as agreed on your credit and you should have no problem refinancing at a lower rate.
And by the way Centrix is out of business. Has been for months.
Is credit union a bank or organization?
Planning to apply for auto refinance, on yahoo - many folks suggested Credit union for Auto refinance, i am not sure what Credit union is ? Is it a kind of bank or is it an organization
SirSnoozeAlot has the correct definition of a credit union, but includes one mistake -- a credit union is NOT a bank. Banks and credit unions are both financial institutions, but they differ in the ways they are funded, governed, insured, etc.
To a consumer, banks and credit unions may appear to be alike because they both offer savings and loan products. There are some fundamental operating differences. The biggest difference that matters to consumers is the ability to join a credit union...each one has a "field of membership" which defines who can become members. You must fit into this definition to join a particular credit union.
You can go to this website to find a CU to join: http://www.joinacu.org/
A credit union is a cooperative financial institution, owned and controlled by the people who use its services. These people are members. Credit unions serve groups that share something in common, such as where they work, live, or go to church. Credit unions are not-for-profit, and exist to provide a safe, convenient place for members to save money and to get loans at reasonable rates
Auto Refinance - Honda CRV 2003, Charlotte, NC - Credit Union?
I have a Honda CRV - 2003 Model, and I am looking for refinancing it. $ amount needed is $ 7000.
I have a pretty Ok CREDIT HISTORY, with a score of 681...
What are the best bank or crdit union which may give me beter rate....and what rate would I expect...
Not sure in your area, but owing less than $7k is going to make it difficult for you to refinance your auto loan.
Most lenders prefer you have over 10K in the loan. Not saying it's not possible, but a local CU is best.
Go here to find one: http://www.ncua.gov/indexdata.html
which credit union is the best for refinance?
Which credit union among the following 3 is best for auto loan refinancing ?
St. Louis Community Credit Union
First Community Credit Union
Community America Credit Union.
based on infor given the one with the lowest rate!!!
Best way to refinance auto loan, St. Louis, MO?
Hi, I want to know whats the best bank or credit union to refinance my auto loan. Currently I pay an interest rate of 13%. Which financier or credit union offers most guaranteedly a reasonable low interest rate auto refinance option for both good or bad credit score? I live in st. louis 63132.
If you think that you are paying a higher repayment amount for your existing car loan<!--then you can bring it down. With the help of refinance car loans, you can switch the loan plan with effective loan management.
http://best-loans.awardspace.com/refinance-car-loan-bad-credit.htm
If you think your lender is charging a higher interest rate on your car loans then you can look at the refinance car loans option. With the help of a refinance car loan, you can avail multiple benefits. Firstly, you may reduce-->your monthly costs. Secondly, you may avail a competitive interest rate. Thirdly, you could be getting a flexible repayment period. Overall, you will be managing your loan a lot better.
Refinancing a really bad auto loan, Credit Union Recommendations?
i have an auto loan that I got from Capital one right after Ch 7 discharge for 21k at 25% apr $557. I paid for it for 7 months and then had it refinanced through wells fargo for 20% apr $505 a month.
Obviously this is ridiculous to pay for a car and since im well past my discharge can I refinance again? Someone told me I should look at credit unions and Im wondering if someone can recommend a credit union i can check out online to maybe get my apr to a reasonable rate
Best thing you can do is go to your local credit unions and compare their offers.
http://best-loans.awardspace.com/autoloans.htm
However, before you sign the paper for financing your favorite set of wheels, do your homework to ensure that you get the best car-->finance option. You can apply for online car loans on the Internet, or get it from your car dealer.
(VERY good loans - c.cards - credit repair & score; info)
http://new-loans-center.blogspot.com
Good luck!
or
http://www.autoloan123.net/
Hope you will find the answer of your question.
auto refinancing?
i bought my car at the end of april 2008. i put down $7,000 and i owe $9000. my current interest rate 11.89%. my credit union's auto refinancing rates are 3.99%-7.99%. since i've only had my car for 3 months, is it possible to refinance? my original loan is through bank of america.
i was not a member of this credit union when i bought my car.....in fact, i had never heard of this credit union until about a month ago. there is only 1 other credit union in my area, and their interest rates were almost the same as the interest rate i have.
Auto finance is what I do for a living and with as much as you put down you should be in a equity position unless the dealer really took advantage of you.
If you are in a equity position and your credit is decent you should not have a problem refinancing through your credit union.
My question to you is if your a member of a credit union why did you not get pre-approved through them before you bought the vehicle in the first place?
Just go in and ask. There is no time restraint on refinancing.
How do you refinance an auto loan?
I don't know the specifics of the loan (it's my boyfriends), but he purchased a vehicle around October of last year. He had never had an auto loan before and had little credit history, so his interest rate was fairly high. His loan is through a credit union. I know he has had one late payment.
Knowing this, does anyone have any recommendations on refinancing? We don't know a thing about it, but we do know that gas is too high not to consider it!
Thanks!
Let me see if I can get this answer out to you as fast and concise as possible.
1. What is Refinancing?
For a car, refinancing is taking a current loan and giving it to another (or the same lender) on new terms. The terms can go up or down (payments, interest, and length of term).
The old auto loan is paid off fully and title is transferred to the new lender. You cannot get cash out of this deal. You cannot change owners of the car by refinancing. If you don't need a cosigner, don't get one. (If this is your bf car, don't be a co-signer, trust me)
2. Why refinance?
Many reasons: 1. Extending your loan another few months can reduce your payments. 2. Reducing interest rate can reduce the amount you pay out over the life of the loan.
3. How much will I save?
That depends on many things. Most people think it's just the credit score of the borrower. But that isn't the only thing. LTV (loan to value, or the value of your car versus what you owe on it), DTI (debt to income, or what you make versus what you owe each month in rent, etc), and what the contents of your credit report are (collections, # accounts, etc.).
4. What you need when going for refinancing:
a. Car Info (make, model, year and VIN if you have it)
b. Loan Info (who, payoff, rate, payment)
c. Financial Info (monthly pay, monthly debts, SSN, etc)
5. Who do I go to for refinancing?
There is no right answer here. Start with the CU, see if they can help. I work for a car refinancing company that works a lot like Lending Tree, but for cars. We take your information to a list of lenders and get the best deal (like a personal shopper). Watch how many places you apply at though. Too many inquiries COULD (not will, could) hurt your credit. So be picky about who you apply to refinance with.
Let me know any other ?s you have. I'll add a link to our FAQs if that helps.
Why will noone approve me for an auto refinance loan?
I have a decent credit score (650-700), lived at my resident long enough, been at my job long enough (almost 2 years) and make more than enough money to get a loan. I have paid on the car for 7 months on a 6 year loan. The interest rate is over 20% right now and have an excellent payment history on all my accounts/credit cards. So far, most reputable financing companies have rejected me online. I will soon go to banks and credit unions. Any suggestions?
Your best bet is to go to a credit union first- they tend to be more lenient and offer better rates, usually. What you are describing about your situation does not add up at all. If you really have 650-700 for a score, been at your residence for 3 years, had a STABLE employment history for at least 2 years and make more than enough money- you sould have a much lower interest rate.
Also, a good place to check is...
http://www.knowledged.info/go.php?link=auto
Hope that helps.
Should I refinance my auto loan again?
I recently (about a week ago) refinance my 6-year 21% loan to a 4-year 11.5% loan. I did i through a credit union and at a higher than prime rate because I don't have much credit and/or high revolving balances. My question is, in about a year, should I refinance again through the same credit union for a 3-year loan? I will probably get a little better rate. The only thing is, we are hoping to not have the car much longer than another year. If we trade it in, I will owe about 1500-2000 over trade-in value. I know, paying more every month is an option, but just not feasible right now. Any suggestions?
If I refinance with 3 years left, I will be paying less interest since my rate will be better.
roy is right, every time you re finance your total dollar amount of interest goes up even though the rate goes down because you are never really paying on the priciple balance
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