Re-financing Jeff's auto loan

Discussion in 'Archived Threads 2001-2004' started by jeff lam, Aug 14, 2002.

  1. jeff lam

    jeff lam Screenwriter

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    I have a question about refinancing. I keep getting these ads for refinancing my mortgage but since I don't have a house, they are useless. I do however have an auto loan and was wondering if any companies out there are doing refinancing for auto loans. I currently have a 9.5% and 3 years left. Would it be worth it to refinance my auto loan?
     
  2. Patrick Sun

    Patrick Sun Moderator
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    Jeff, forgive me for splitting off your auto loan re-finance question. I just didn't want to get home mortgages and auto loans all mixed up together. [​IMG]
     
  3. Jared_B

    Jared_B Supporting Actor

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    Yes, I think it would be worth it especially if you could get around 6% interest or lower. There are companies that will do it, but they are probably not as common as mortgage refinancing.
     
  4. Todd Hochard

    Todd Hochard Cinematographer

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    About 6.5% on a used car is the lowest I've seen here. But sure, why not??
     
  5. jeff lam

    jeff lam Screenwriter

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    Patrick,
    Thanks, I wasn't sure if I should start my own thread or not on a similar subject, but your thread just got me thinking about my auto loan and I figured those that knew about home loans would also know about auto loans.

    Anyway, how can I ge in touch with these companies? Any websites or phone numbers?
    When I asked my credit union who I have the loan with about refinancing they said they wouldn't be able to do it and gave some lame excuse. I just think they didn't want to change my percentage rate.

    So any names of companies I should check out?
     
  6. Bob-N

    Bob-N Supporting Actor

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    9.5%!!!! Holy cow! Get that refinanced now! My credit union (Star One CU) is offering 4.75% (my current loan is at a paltry 5%). In all of my cases, I've refi'ed my auto loans at least one time and have saved a bunch of dough since my CUs don't have any fees to switch/refi.

    Check out the rates at your local CU. You should be able to get a better rate w/o paying additional fees.

    Bob
     
  7. Dennis Nicholls

    Dennis Nicholls Lead Actor

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    Yeah I'm with Star One too (0ld Lockheed CU), and their last flyer talked about re-fi of auto loans. Won't help me: I got 0% financing when I bought my F-150... [​IMG]
    https://www.starone.org/
     
  8. Howard Williams

    Howard Williams Supporting Actor

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    Star One sounds great but I am not eligible. I couldn't join because the company I work for is not on the list. Any ideas?
     
  9. Keith Outhouse

    Keith Outhouse Stunt Coordinator

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  10. Howard Williams

    Howard Williams Supporting Actor

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    I almost got a used car loan through People First. They had so many restrictions that I couldn't feel comfortable using them. As always, be sure to read the fine print.
     
  11. nolesrule

    nolesrule Producer

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    I got my car refinance through PeopleFirst. Got a great rate (and this was before interest rates dropped like crazy). It isn't restrictive. I found them easy to deal with and I don't have to remember to write a check each month as it is automatically debited from an account of my choosing (sam with my refied school loans). Just make sure the money's in the account on the withdrawal day, which you can specify.
     
  12. Howard Williams

    Howard Williams Supporting Actor

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    Refinancing may be no problem with People First but if you want to buy a new or used car with a loan from them, there are many key restrictions.
     

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