Do credit unions do car loan refinancing?

I want to refinance my car to get out of a 9.49% interest rate. Will my local credit union refinance me?

Answer
Yes, credit unions certainly refinance car loans. They are actually some of the best lenders around!
Credit unions are structured as a nonprofit organization, which means they can undercut car loan rates from banks and other for-profit lenders. This isn’t a guarantee that you’ll get a better rate and you should still shop around, but a credit union is a great place to start.
You should also look for promotional refinance rates that are often offered by banks, online lenders, and credit unions.
If you’re looking to refinance your vehicle, you should also think about trying to find lower car insurance rates. Jerry can help. Just complete a 45-second sign-up, and you’ll be able to compare dozens of competitive quotes.
Eric Schad
Answered on Nov 15, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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