Is it time to refinance your auto loan?
Many people think that they’re locked into the loan they take out when they purchase their vehicle. But did you know that refinancing your auto loan could save you money and provide better overall loan terms? Here are three potential situations where this might be right for you:
You didn’t get the best deal: Car shopping can be overwhelming. Many people end up paying more than they budgeted for, or feel pressured into loan terms that were not ideal.
Your credit score has improved: Your credit score determines the interest rate you pay on your loan. If your credit score has gone up since you took out your original loan, refinancing may make sense for you.
You need to lower your monthly payment: Life happens- maybe you need to lower your monthly payment.
How do you refinance an auto loan?
At WWRFCU, we help our members refinance their auto loans that have at other banks or lending companies to save them money in the long run. You can apply online, come into our branch, or give us a call. We’ll look over your current loan and let you know how we can help.