If interest rates are lower than your original loan – yes you should! Even a 1-point difference can make an impact over the life of a loan.
If your credit score improved since you took out the loan – yes you should! Your credit score has a major influence on loan rates, so if you have been paying your bills on time or have been working on your credit score, your credit score may have improved.
If your loan came from the dealer – yes you should! Dealer-sourced vehicle loans commonly carry a higher rate than the consumer deserves. Extra money is a profit source to the dealer, like rust-proofing or extended warranties.
If you want a lower monthly payment – yes you should! Sometimes the unexpected happens. If you need to reduce your payments for financial stability, refinancing your car loan for a longer term will lower the monthly payment.
If your car lease is expiring and you want to purchase the vehicle – yes you should! When you fulfill the terms of a lease, you typically have the option to buy the vehicle.
*Minimum $5,000 loan amount. Normal loan underwriting guidelines apply. Loan must be transferred from another financial institution or finance company. Vehicle must be used as collateral. Offer valid for limited time and subject to change. Loan must remain at Brewery CU for a minimum of 6 months. Only one transfer per vehicle. Some restrictions may apply. Membership eligibility required.