Top 5 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
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 For a LIMITED-TIME earn a Guaranteed $100 CASH BACK* when you apply and are approved to refinance your new or used auto loan.
©2020 MTC Federal Credit Union. All rights reserved. Federally insured by the NCUA. Equal Housing Lender. *Annual Percentage Rate (APR) may vary depending on each individual’s credit history and underwriting factors. All loans subject to credit union approval. All credit union loan promotional offers, programs, rates, terms and conditions are subject to change at any time and without notice. Incentive paid up to $100 based on loan amount. Amount will be credited to primary applicant’s savings account. Offer may end at any time. Other restrictions may apply.