You’ve done the research and you know what you want, but you aren’t sure where to start. Our pro tip? Hype yourself up. Think of it like dating, except you’re the only one that needs to be impressed. Let’s take a look at that process:
...the amount owed on your statement makes you want to jump into the nearest body of water. Please don’t do that. Call us instead.
When you look at your loan statement each month, the amount you’re paying in interest should be steadily decreasing. If it’s not, now is a good time for a change. Refinancing a vehicle is NOT like refinancing a home. Vehicle refinances are typically quick and painless transactions with a very low title transfer fee. Once you’ve been approved, it’s just a matter of collecting documents (most of which are accessible online within minutes) and sending out a check.
Reduce your monthly payments. A lower payment gives you some budgeting room, and any additional you pay toward your monthly payment goes toward your principal balance – saving you money on interest.
Adjust your loan term. If your monthly payments are too high, and you’re constantly cutting out the things you enjoy just to pay your loan, it’s time to take a look at your term. You may be able to extend it and give yourself a little breathing room. Maybe you went for the longer term at the dealer because you got a rebate or a discount, but you find that now you’re paying a lot more interest. Let’s look at shortening your term. Loans are not a one-size-fits-all kind of deal.
Save money and become a fierce advocate for your community. We love helping our members save as much money as possible, but giving back to our community makes us do the happy dance. Each summer, we donate funds for each vehicle refinanced to local charities because we believe a big part of our purpose is to enrich our communities. Check our promo page in June for the latest partnerships.
Apply today and we’ll work together to lower your current interest rate, shorten your term to help you pay your loan off earlier, and save you some major cash.
*APR = Annual Percentage Rate. On approved credit. Certain terms, restrictions and conditions apply. Proof of current loan rate may be required prior to closing in order to receive the refinanced rate. This offer does not apply to vehicles currently financed through SunWest Federal Credit Union. Rates are subject to change without notice. SunWest reserves the right to modify or discontinue any offers that may be listed on this page at any time.