Auto loan refinancing

[SagaLore]

I was about halfway done with my current bank, when they pulled some loan->value ratio thing that would increase my interest rate instead of lowering it. 😕

So I guess I'll try somebody else. Who else should I try?

 

[Tooncesthedrivingcat]

penfed.org

 

[Tooncesthedrivingcat]

or just do what i did and use a BT offer on your CC. I got 2.99% for the life of the balance with a BT fee capped at $99.

 

[compuwiz1]

Originally posted by: SagaLore
I was about halfway done with my current bank, when they pulled some loan->value ratio thing that would increase my interest rate instead of lowering it. 😕

So I guess I'll try somebody else. Who else should I try?

You mean you signed up for a variable rate loan? Don't do that again! Bad Boy!!! 😉

 

[Engineer]

Originally posted by: Tooncesthedrivingcat
penfed.org

 

[OCGuy]

Originally posted by: Tooncesthedrivingcat
or just do what i did and use a BT offer on your CC. I got 2.99% for the life of the balance with a BT fee capped at $99.

Because if the balance is more than 50% of the limit of your new CC, your credit score gets hit pretty hard.

Maxed out installment loans (auto, home) do not hurt your credit like maxed out revolving debt. (CCs)



@ OP: I go though credit unions for all of my auto loans, as they tend to have the best rates.

 

[Greenman]

Capital one http://www.capitalone.com/autoloans/ I've financed two cars through them, was very happy with the service and rates.

 

[Tooncesthedrivingcat]

Originally posted by: Ocguy31

Originally posted by: Tooncesthedrivingcat
or just do what i did and use a BT offer on your CC. I got 2.99% for the life of the balance with a BT fee capped at $99.

Because if the balance is more than 50% of the limit of your new CC, your credit score gets hit pretty hard.

Maxed out installment loans (auto, home) do not hurt your credit like maxed out revolving debt. (CCs)



@ OP: I go though credit unions for all of my auto loans, as they tend to have the best rates.

I know this but I'll take a temp score hit to save x number of dollars. Also, if you are smart you will have plenty of available credit to pull off things such as this.

 

[SagaLore]

Originally posted by: compuwiz1

Originally posted by: SagaLore
I was about halfway done with my current bank, when they pulled some loan->value ratio thing that would increase my interest rate instead of lowering it. 😕

So I guess I'll try somebody else. Who else should I try?

You mean you signed up for a variable rate loan? Don't do that again! Bad Boy!!! 😉

No no, I meant that I was half-way done processing an auto refinance request. 😛 My current car loan is fixed. 😉