How to Refinance Your Auto Loan

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Has your credit improved since you first applied for an auto loan? Or are you looking for a lower interest rate? Refinancing your current auto loan might be the right move for you, and we’ve made it easy to do online. Preparing to refinance your auto loan can be even easier than you imagined when you’re organized.

Collect your documents. Make sure you know what your currently monthly payment is, what interest rate you’re paying, and the amount of time left to repay the loan in months, often called the loan term. You’ll also need your driver's license, the vehicle identification number, pay stubs from your current employer, and your social security number to complete your loan application.

Evaluate your credit history. Do you have good credit? Bad credit? While it won’t tell you exactly what kind of interest rate you can expect to get, you’ll need to know what shape your credit is in before you decide to refinance your auto loan.

Apply! At Telcoe Federal Credit Union, we make it easy to apply. Submit a request online and see if you qualify!

Now you should be able to determine if refinancing your auto loan is a smart move for both you and your wallet. Once you’ve evaluated the terms of your loan, complete the process by processing paperwork at Telcoe FCU! You’re in control of your finances now, so take the wheel and refinance your auto loan today!

If you’re shopping around for a new auto loan or thinking about refinancing your current loan, Telcoe Federal Credit Union makes it easy. With our lenders' knowledge of local dealerships in central Arkansas, you'll be confident and armed with knowledge once you hit their lots. We work diligently to secure the competitively low rates and customized terms all Telcoe members deserve. Visit our website today to apply or to learn more about Telcoe Federal Credit Union and our member services.