Which credit union has the lowest auto refinance rates?

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PenFed Credit Union

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Regarding this, how soon can you refinance a car loan after purchase?

Wait at least 60-90 days from getting your original loan to refinance. It typically takes this long for the title on your vehicle to transfer properly, a process that will need to be completed before any lender will consider your application. Refinancing this early typically only works out for those with great credit.

One may also ask, do you need proof of income to refinance a car? To verify your income, your new lender could require you to submit W-2 forms, pay stubs, or bank statements. Your lender may reach out to your employer for verification too. Many lenders now require applicants to provide proof of income within the last 10 to 14 days.

Likewise, people ask, do credit unions refinance?

Members who already have a mortgage loan through a credit union can easily refinance their mortgage. Even if you are sending monthly mortgage payments to your bank, financing with a credit union is still possible. There is no obligation to work with your present mortgage servicer.

Can I refinance my car loan after 1 year?

While technically you could refinance your car as soon as you buy it, it’s best to wait at least six months to a year to give your credit score time to recover after taking out the first car loan, build up a payment history and catch up on any depreciation that occurred when you purchased.

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