I cannot get over this car!

[tbyrne]

My rate today was 5.79. I have a high credit score so I was kind of surprized by that. My local credit unit will be taking care of the refinance. I'll probably wait until I sell the car this is replacing and then put that money towards the new loan.

[the duke]

Refinancing is not as esay as it seems. When you go to your credit union for a loan, your car will be considered used and may not qualify for a new car rate. Your current loan will also work against you because it is new and once again you may not get the rate you want.

[IndySilverC]

That depends on where you are going to get the refi. If you do it quickly enough, I am told that some credit unions will still consider the vehicle new.
In the case of my credit union, new and used cars are financed at the same low rates. So, unless CF will match, there is no incentive not to refi. I have already gotten preapproval for the CU loan, so no pressure at buying time. It pays to have a good relationship with your credit union, no matter how stellar your FICO is.

[catchMEifUcan]

Originally Posted by tbyrne

My rate today was 5.79. I have a high credit score so I was kind of surprized by that. My local credit unit will be taking care of the refinance. I'll probably wait until I sell the car this is replacing and then put that money towards the new loan.

I got 3.49% at my credit union (end of June). Shop around. If you have good credit, you can always do better.