I still have a car note with a dealership and I'm looking to refinance with a credit union(?) to get a lower interest rate/payment. Maybe even a longer term since I plan on paying it off in a few years either way. Any recommendations for somewhere I can apply online without getting 20 credit dings for applying to 20 different banks at the same time (like they do at Lending Tree, Quicken Loans, etc...)? I hear about People's Trust all the time on the radio, but I have reservations about using anyone that advertises so much on radio/TV etc.
I refinanced at Shell FCU a couple of years back. Great rates and I was even approved while rebuilding my credit. They have rate as low as 1.74%. They also allow you to skip payments every December and July.
...most Credit Scores are not affected by multiple inquiries from auto, mortgage or student loan lenders within a short period of time. Typically, these are treated as a single inquiry and will have little impact on your credit scores. link
Also on Shell, they sale extended warranty coverage through Vision Warranty. I've gotten my money back from purchasing that two times over dealing with transmission issues. The service manager at the Ford dealership I use says they are hands down the easiest warranty company to deal with.
What is your current interest rate? You can see if your insurance company does loans or has a credit firm they work with.
Good info, thanks. I've always wondered about that. When we financed the car at CarMax, they sent our info to about 20 different banks in a split second and picked the best rate. I was sitting there thinking "****, there goes my credit...." So I guess if I apply at 3 different credit unions (online) on the same day and pick the one with the best rate, it'll only be treated as 1 inquiry?
JSCFCU gave me the best rate for a car loan and a mortgage. By far. But those weren't refinancing so I don't know if that's different.
