Good company to refinance auto loan with

Discussion in 'Men's Economics' started by Evom1, Mar 30, 2017.

  1. Evom1

    Evom1 Member

    Just wondering who you guys would suggest for refinancing an auto loan with? Hoping to end up somewhere near a 3.5% apr
  2. Geterdun

    Geterdun Member Supporter

    Wouldn't that depend on where your at location wise for the APR? I haven't refinanced an auto loan, so not to familiar with that. I always turn in my ride and add a sizable don payment to get a cheap payment to get a lower length finance term. I know the internet has some good deals if you shop around...
  3. Evom1

    Evom1 Member

    True, I didn't realize location played into it much. I was rebuilding my credit, car died, had to get a new one and so I ended up with a really high interest rate BUT by the time I finish up the first year of payments, credit should be 700+
  4. Cajun897

    Cajun897 Member

    If you have a credit union around they usually have the best rstes
  5. Fungui

    Fungui Member

    Capital one is great for auto refi and you can get a quote without submitting to a credit pull, all online.
    MindlessWork likes this.
  6. MindlessWork

    MindlessWork Member Supporter

    I used Capital One for purchasing a car and I was already preapproved for 35K as I had 2 Capital One credit cards in great standing. Was quite effortless.
    Fungui likes this.

    PIZZABOY Member

    Credit union for sure. Careful tho, in the contract there is sometimes a penalty to refinance within a certain amount of time. 700 credit score you can walk onto any lot sign and drive no money down, they make it too easy.:D
    Last edited: Jun 11, 2017
    MindlessWork likes this.

    PIZZABOY Member

    Fu. Capital one. Bunch thieves
  9. pumpingiron22

    pumpingiron22 Member Supporter

    Cash money. Loans are for suckers. I rather save than work my whole life for debt slavery.
    Loans = Debt = Slavery =
    money from banks who don't have the money in the first place. They make money off you.
  10. MindlessWork

    MindlessWork Member Supporter

    I hear you, and a new car is like $20k average nowadays so not everyone is going to have that much cash available.

    Same thing if you wanted a'd need like $200k in cash :eek:
  11. ruckin

    ruckin Member

    Then someone like that shouldn't be buying a $20k new car
  12. MindlessWork

    MindlessWork Member Supporter

    So true 100%

    But there's the suckers that want something right now and then take out a loan.
  13. pumpingiron22

    pumpingiron22 Member Supporter

    It's better that way. Aleast for a vehicle. Now house wise almost avoidable but put down as much as possible.
    The whole car things gets me you get a loan for a car by the time your finish paying it off it's worthlessness and owe more than it's worth. Cash cars are better option. A house aleast you get your money back or more when you sell it.
  14. slick50

    slick50 Junior Member

    Pentagon Federal Credit Union. I've refi'd about 3 times with them and new purchased twice. Great CU and whenever you call customer service is great.
  15. ickyrica

    ickyrica Member Supporter

    20k would be a treat for a new vehicle. Was looking at new 2017 Tahoe LT and they are around 55K new.
    Wunderpus likes this.
  16. gr8whitetrukker

    gr8whitetrukker Member Supporter

    Nah, 55k on the low end and thats only if you pay cash. By the time your 5 yr slavery loan is thru you will have paid about 6-10k more than that. Then your ready for your next loan :)
    The wheel goes round and round. Stay in the system. And be broke just like everybody else.

    I just bought a used Tahoe. Fucking love it. Black on deep black tinted windows. Presidential and rides unbelievable. Used. In cash. Im in control. Not the bank
    Wunderpus, Savagesteve and ruckin like this.

    HIGHRISK Member

    Dave Ramsey would be proud :D
    gr8whitetrukker likes this.
  18. Wunderpus

    Wunderpus Member Supporter

    Kind of... Money is cheap right now... If you are looking to build at a faster rate (i.e. real estate), now WOULD be a good time to get a loan at a good rate... Move in renters to essentially pay off your interest and mortgage... Just my $0.02, considering this is the industry I work in... I have no issue borrowing money, especially to build credit etc.
  19. Wunderpus

    Wunderpus Member Supporter

    GMC Yukon all day for your boy WP :D
  20. gr8whitetrukker

    gr8whitetrukker Member Supporter

    Worship at the temple of FICO. Credit has its uses especially in business where your talking hundreds and hundreds of thousands of dollars in to millions and some times billions. But more often than not those are protected by corporate structure with little actual risk on a individual person. Individuals like me and probably 75% or more of regular folks live up to our eyeballs in debt just to keep up with the Jones's. That was till i learned better. It sets you behind for decades although from the outside looking in it appears you got it made. Not.

    Thats how these auto makers keep charging more and more till weve reached this obscene lvl of pricing on new vehicles. They know the consumers will still some how manage to FIT the cost in to their budget to satisfy their materialistic lust. Ive been there. The majority of ppl have and or are still in that mindset. If folks had to pay that 60-70k in cash to get in to that brand new pickup or suv. They wouldnt. Guaranteed. Its easier to fit a $900 pymt in every month. Which is another $900 they aint saving. While still incurring the overhead of operation of said vehicle. Double edged sword. A sword that always depreciates and costs you money. Bad idea
    Outlier and HIGHRISK like this.