Auto loans shouldn’t be a one-way relationship, and it’s okay to break up with yours if it’s not what’s best for you.
At SunWest Credit Union, we’ll give you both the emotional and financial support for your auto loan breakup. Refinance your auto loan and never settle for an auto loan or payment schedule that doesn’t work for where you are in life right now.
Refi your current auto loan payment to better fit your monthly budget.
Whether you want to reduce the term or extend it, refinancing gives you options.
Lower your APR when you refi your auto loan + save loads on interest.
Use your vehicle’s equity to finance a large purchase, consolidate debt + more.
Zero prepayment penalties. Pay more whenever you want + save on interest.
We offer deals on GAP, Extended Warranty + Debt Protection to fully protect your purchase.
The amount owed on your statement makes you want to jump into the nearest body of water because it never seems to go down.
Interest rates have significantly dropped since you originally financed your vehicle, or if your credit score has increased + you qualify for a much lower rate.
Your income has decreased, and your monthly payment is now too high.
You can afford to pay more monthly and want to pay your car off sooner with a shorter term. Shorter terms can often mean a lower interest rate.
You need cash. A cash-out refinance makes money available to you using the equity in your vehicle at the low rate of an auto loan.
Refinancing your auto loan is a stress-free way to save major $$$. That gives you money to spend on…well, whatever you want.
You put in the refi research and found the loan that fits you best. Now it’s time to protect your investment. As a SunWest Credit Union member, you have access to discounts on comprehensive auto coverages designed to keep your auto and wallet safe.
An auto loan refinance is the process of paying off your current auto loan with a new auto loan. The most common reason to refinance a vehicle is to take advantage of more favorable loan terms such as a lower interest rate or lower monthly payment.
You’ll start with an application where we’ll look at your credit, income, and vehicle factors such as year, make, model, mileage, current payoff and vehicle value. Once your loan terms have been agreed on and finalized, we send a check to your current lender, paying them off in full, and we take care of the title transfer with MVD.
Once you have signed your loan documents, we mail a 10-day payoff check to your current lender. If they process it before a full 10 days, a refund will either be mailed back to you or your new lender in your name.
Yes, SunWest does accept refinances where there is negative equity. The amount of negative equity we can finance is based on credit ranking and is not to exceed 130% loan-to-value.
In some cases, the full loan process can be done all on the same day, and the payoff can take up to 10 business days.
