Reduce your interest rate and keep more money in your pocket

February 26, 2016 | Dawn Virgilio

Buying a car is an exciting time, and an auto loan helps many people buy the new or used car of their dreams. Sometimes the timing works out perfectly—you get an interest rate and payment that works for your situation. But what if your financial situation has changed and you would like to reduce your payments due to a life event, like a new career with a different income or increased expenses as your children prepare for high school and college?

Your financial situation typically fluctuates over time, and you may have a higher credit score now than when you originally got your auto loan so you may be eligible for a lower rate. You may also have simply missed an opportunity to get a lower APR when first making your purchase, or maybe you have made the decision to buy the car you’ve been leasing when your contract ends.

All of these factors are excellent reasons to look at how you can lower your car payment—and Mission Fed is here to help. Mission Fed offers Auto Loans with our Bottom Line Rates Every Day, meaning you can refinance your automobile with a low interest rate and flexible terms. We’re able to offer these low rates because we’re a member-owned, not-for-profit financial institution and want to provide exceptional service to our members, which can lead to some great savings opportunities, too.

If you’re looking to lower your car payment, check into refinancing your current loan from another lender with a Mission Fed Auto Loan today, and keep more of your money in your pocket! Whether you contact us online, by phone or in-person at a branch, you’ll have the friendly service of a Mission Fed representative in the passenger seat as you navigate your way to lower car payments.

It’s not how much money you make in life; it’s how much you spend—and save! Look for low loan interest rates on all your purchases to maximize your budget and plan successfully for the lifestyle you want.

Sources:

Heaps, Russ. “5 situations when it makes the most sense to refinance your car.” Bankrate Online.
http://www.bankrate.com/finance/auto/5-best-conditions-to-refinance-your-car-1.aspx

The content provided in this blog consists of the opinions and ideas of the author alone and should be used for informational purposes only. Mission Federal Credit Union disclaims any liability for decisions you make based on the information provided.

Dawn Virgilio

Dawn Virgilio

Dawn Virgilio is VP Financial Planning & Analysis at Mission Federal Credit Union. She has enjoyed a long career working for financial institutions, the majority of that time (25 years) dedicated to credit unions. She really likes numbers, especially when they add up and multiply.

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