Many interest rates are at all-time lows right now. This means that if you have any sort of debt, you should explore refinancing. The goal is to lower your interest rate and monthly payments while paying minimal upfront costs and fees.
Did you know that you can refinance your existing car loan? While I advise
- This one is not a credit union, it is like LendingTree for auto loan refinancing. Open to everyone, you submit one application and they will give you multiple quotes from different private lenders.
- They offer an interest rate estimator tool with no credit check based on your overall credit profile.
- No application fees.
- Refinance for as low as 2.04% APR for 36 months.
- No payments for up to 90 days for qualified borrowers.
- Membership open to active, honorably discharged, or retired military, Federal employees, or select membership groups. This includes being a Red Cross blood donor or volunteer. You can also join the Navy League for $25. I recommend just going through the PenFed application process and let them guide you.
- Currently, they are offering a $250 bonus when you refinance an auto loan with them.
- Refinance a 2019/2020 model year car for as low as 2.14% APR for 36 months.
- Refinance a 2018 or older model year car for as low as 2.99% APR for 36 months.
- Membership open to active military, veterans, and family members of veterans.
- Refinance a 2019/2020 model year car for as low as 2.29% APR for 36 months.
- Refinance a 2018 or older model year car for as low as 3.89% APR for 36 months.
- Membership open to those with the military affiliation: active duty, Guard or Reserve, a veteran, an eligible family member, or a cadet or midshipman. USAA is the most strict about their membership if you are not military, but they usually have very competitive rates.
- No application fee.
- No payments until 60 days after your loan is approved.
- Membership open to active or retired military as well as other partner organizations. If you don’t otherwise qualify, anyone can join the Nashua River Watershed Association for a one-time $35 fee.
- Hanscom FCU offers a 0.25% discount for loans on new and used vehicles (excluding motorcycles) to current active duty members in the U.S. Military.
- No application fees or title transfer fees.
Why multiple quotes? If you apply for a car loan, they will run a credit check and provide a specific rate quote on your credit report data. (Check your credit reports for
“The editorial content here is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author’s alone. This email may contain links through which we are compensated when you click on or are approved for offers.”
Copyright © 2019 MyMoneyBlog.com. All Rights Reserved. Do not re-syndicate without permission.