Author Topic: Auto loan refi rates lately  (Read 1203 times)

0 Members and 1 Guest are viewing this topic.

Offline Cornflakes

  • O.C. Resident
  • ***
  • Thanks
  • -Given: 3
  • -Received: 92
  • Posts: 528
Auto loan refi rates lately
« on: December 21, 2020, 07:32:53 PM »
Any suggestions on refi rates for auto loans? I have 3.25% on my cars, and would love to lower the borrowing costs if better rates are out there.

Offline iacrenter

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 446
  • -Received: 678
  • Posts: 3347
  • Gender: Male
Re: Auto loan refi rates lately
« Reply #1 on: December 21, 2020, 08:48:35 PM »

Offline USCTrojanCPA

  • Your CPA Realtor
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 2565
  • -Received: 2035
  • Posts: 9979
  • Gender: Male
Re: Auto loan refi rates lately
« Reply #2 on: December 21, 2020, 08:57:38 PM »
You can try PenFed:

https://www.penfed.org/auto/refinance

+1 PenFed is super easy to work with on auto loans.
Martin Mania, CPA
AgencyOne
CA BRE License # 01799007
CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!
Have license, will travel!

Offline Cares

  • Real Estate Broker & Mortgage Loan Originator
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 12
  • -Received: 195
  • Posts: 1011
Re: Auto loan refi rates lately
« Reply #3 on: December 21, 2020, 09:00:55 PM »
Any suggestions on refi rates for auto loans? I have 3.25% on my cars, and would love to lower the borrowing costs if better rates are out there.

Cash out refi your home at 2.875% and buy your car in cash!

Write off the "car loan" interest and also have it amortized over 30 years instead of over 5-7 years!

Offline HMart

  • O.C. Resident
  • ***
  • Thanks
  • -Given: 217
  • -Received: 76
  • Posts: 505
Re: Auto loan refi rates lately
« Reply #4 on: December 22, 2020, 12:54:11 PM »
Any suggestions on refi rates for auto loans? I have 3.25% on my cars, and would love to lower the borrowing costs if better rates are out there.

Cash out refi your home at 2.875% and buy your car in cash!

Write off the "car loan" interest and also have it amortized over 30 years instead of over 5-7 years!

I thought there was a limit on the mortgage interest deduction.

Offline USCTrojanCPA

  • Your CPA Realtor
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 2565
  • -Received: 2035
  • Posts: 9979
  • Gender: Male
Re: Auto loan refi rates lately
« Reply #5 on: December 22, 2020, 01:23:51 PM »
Any suggestions on refi rates for auto loans? I have 3.25% on my cars, and would love to lower the borrowing costs if better rates are out there.

Cash out refi your home at 2.875% and buy your car in cash!

Write off the "car loan" interest and also have it amortized over 30 years instead of over 5-7 years!

I thought there was a limit on the mortgage interest deduction.

Up to a loan down of $750k if you are doing a cash out refi.  I'm not sure I'd have my mortgage rate increase by 1/4% to 3/8% to pay for a car loan, I'd just take the PenFed rate.
Martin Mania, CPA
AgencyOne
CA BRE License # 01799007
CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!
Have license, will travel!

Offline SoclosetoIrvine

  • Yearning for 949 / 714
  • **
  • Thanks
  • -Given: 54
  • -Received: 81
  • Posts: 471
Re: Auto loan refi rates lately
« Reply #6 on: December 22, 2020, 04:43:46 PM »
Try DCU (digital credit union) 1.99% up to 65 months for purchase and Refi

Offline Cornflakes

  • O.C. Resident
  • ***
  • Thanks
  • -Given: 3
  • -Received: 92
  • Posts: 528
Re: Auto loan refi rates lately
« Reply #7 on: December 22, 2020, 07:00:37 PM »
Thanks.

Will check DCU out, and report back here.

I found 1.3% on refi for a 29-months term, it is tempting.

https://www.calcoastcu.org/

Offline Cornflakes

  • O.C. Resident
  • ***
  • Thanks
  • -Given: 3
  • -Received: 92
  • Posts: 528
Re: Auto loan refi rates lately
« Reply #8 on: December 23, 2020, 09:34:19 PM »
Passed on the DCU. Seems legit and they do not have much restrictions on age of vehicle or who can join CU, but the 2% rate is after half point discount they give you when you have entire paycheck direct deposited with them.

Going with Cal Coast 1.3% 29-month loan. Will save few $ for masks.

The following member(s) thanked this post:


Offline HMart

  • O.C. Resident
  • ***
  • Thanks
  • -Given: 217
  • -Received: 76
  • Posts: 505
Re: Auto loan refi rates lately
« Reply #9 on: December 28, 2020, 06:50:45 PM »
Passed on the DCU. Seems legit and they do not have much restrictions on age of vehicle or who can join CU, but the 2% rate is after half point discount they give you when you have entire paycheck direct deposited with them.

Going with Cal Coast 1.3% 29-month loan. Will save few $ for masks.

This rate seems.....too good to be true? What's the catch?

Offline paperboyNC

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 367
  • -Received: 274
  • Posts: 1644
  • Gender: Male
  • Portola Springs
Re: Auto loan refi rates lately
« Reply #10 on: December 29, 2020, 09:38:37 AM »
Passed on the DCU. Seems legit and they do not have much restrictions on age of vehicle or who can join CU, but the 2% rate is after half point discount they give you when you have entire paycheck direct deposited with them.

Going with Cal Coast 1.3% 29-month loan. Will save few $ for masks.

This rate seems.....too good to be true? What's the catch?
Thanks. Just applied with them and they said I qualified to refi my Tesla at the 1.3% rate!

Offline HMart

  • O.C. Resident
  • ***
  • Thanks
  • -Given: 217
  • -Received: 76
  • Posts: 505
Re: Auto loan refi rates lately
« Reply #11 on: December 29, 2020, 09:47:08 AM »
Did you have to work in the SD/Riverside counties? I saw that somewhere.

Offline USCTrojanCPA

  • Your CPA Realtor
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 2565
  • -Received: 2035
  • Posts: 9979
  • Gender: Male
Re: Auto loan refi rates lately
« Reply #12 on: December 29, 2020, 04:42:05 PM »
Passed on the DCU. Seems legit and they do not have much restrictions on age of vehicle or who can join CU, but the 2% rate is after half point discount they give you when you have entire paycheck direct deposited with them.

Going with Cal Coast 1.3% 29-month loan. Will save few $ for masks.

This rate seems.....too good to be true? What's the catch?
Thanks. Just applied with them and they said I qualified to refi my Tesla at the 1.3% rate!

Was it easy to join to get the refi?
Martin Mania, CPA
AgencyOne
CA BRE License # 01799007
CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!
Have license, will travel!

Offline paperboyNC

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 367
  • -Received: 274
  • Posts: 1644
  • Gender: Male
  • Portola Springs
Re: Auto loan refi rates lately
« Reply #13 on: December 30, 2020, 01:58:10 PM »
Passed on the DCU. Seems legit and they do not have much restrictions on age of vehicle or who can join CU, but the 2% rate is after half point discount they give you when you have entire paycheck direct deposited with them.

Going with Cal Coast 1.3% 29-month loan. Will save few $ for masks.

This rate seems.....too good to be true? What's the catch?
Thanks. Just applied with them and they said I qualified to refi my Tesla at the 1.3% rate!

Was it easy to join to get the refi?

Haven't had time yet to send in all the paperwork, but they say it's easy. Just an $11 member fee.

The following member(s) thanked this post:


Offline Cornflakes

  • O.C. Resident
  • ***
  • Thanks
  • -Given: 3
  • -Received: 92
  • Posts: 528
Re: Auto loan refi rates lately
« Reply #14 on: January 03, 2021, 12:28:34 AM »
Super easy process. 2017 Model S refie'd at 1.3%!

After applying, talked to the processor over the phone while my tesla was charging at new Irvine supercharger. Within minutes got approval and was passed on to the funding specialist. Sent in all the docs and loan is approved for funding. Then came the holidays and new year. Waiting for the disbursement this week.

 

Talk Irvine Links

[Recent Posts]
[FAQ / Rules]

Site Supporters


Recent Posts

Re: coronavirus by irvinehomeowner
[Yesterday at 09:23:26 PM]


Re: Work situation? by daedalus
[Yesterday at 05:51:35 PM]


Re: Fresco @ Eastwood Village by USCTrojanCPA
[Yesterday at 05:49:20 PM]


Re: Fresco @ Eastwood Village by USCTrojanCPA
[Yesterday at 05:47:10 PM]


Re: Fresco @ Eastwood Village by Irvinehomeseeker
[Yesterday at 04:26:03 PM]

SimplePortal 2.3.7 © 2008-2021, SimplePortal