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Top Reasons To Refinance Your Auto

Top Reasons To Refinance Your Auto

Whether it rolls, floats or travels, MTC Federal Credit Union can put your next vehicle within reach. From new or used autos, boats, motorcycles, RVs, ATVs, farm equipment and more, refinance for a Guaranteed Better Loan with our Automotive Lending Experts.

1. SAVE MONEY In many cases, a refinance can lower the monthly payment.
Example: A Member with an $18,000 auto loan at 14% APR with 60
months remaining can REDUCE MONTHLY PAYMENT BY $52 with a
new rate of 8.25% APR.
2. LOWER INTEREST RATE Refinancing an auto with MTC Federal can lower the interest rate by a
significant amount.
Example: A Member with a $15,000 auto loan at 8% APR with 60
months remaining can SAVE $1,108 IN INTEREST PAYMENTS with an
APR reduction of 2.75%.
3. SKIP LOAN PAYMENT A refinance can allow MTC Federal Members to skip their first
payment for 90 days*—FREEING UP CASH TO PUT TOWARD OTHER
USES, like paying off a high-interest credit card bill.
4. REBUILD CREDIT When you complete an auto refinance, and HAVE MADE PAYMENTS
ON TIME, the loan activity is reported to the credit bureaus—a big
step toward rebuilding/building credit.
5. GET REWARDED The average MTC Federal Member gets $89.40 Cash Back at loan
closing, but can receive up to $200 based on loan amount.*
©2018, MTC Federal Credit Union. All rights reserved. Federally insured by the NCUA. *Annual Percentage Rates (APR) and promotional offers may vary depending on each individual’s credit history and underwriting factors. All credit union loan programs, rates, terms and conditions are subject to change at any time and without notice. Offer is limited to new or current members with existing loans at other financial institutions. Rates can be as low as 2.95% APR. Real estate and credit cards are not included in this promotion. Member must submit application and provide acceptable proof of their current APR. Other restrictions may apply. Incentive paid up to $200 based on loan amount; cash back savings shown is based on member experience over one year. Amount will be credited to primary applicant’s savings account. Offer may end at any time.
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