Refinancing

[NorthStar]

I realize we have a number of former military and USAA members on the forum. I wanted to pass on that if you’re a member of USAA, they are refinancing vehicles at 1.89% for up to 63 months. I received a flier and decided to bite…fastest and easiest process I’ve ever been through. Even my credit union couldn’t come close to that.

I was riding the fence and thinking about upgrading my truck to a higher trim level but between dealer greed and the fact mine is performing flawlessly, I’ve decided to keep it long term. The rate/term reduction helped cement my decision to keep my truck.

 

[VectorZ]

I'm a USAA and Navy Federal member and the rates at Navy Federal have been better. Any veteran can join Navy fed.

 

[VectorZ]

I forgot to mention that Navy Federal also gives you $200 cash to refinance through them.

 

[scottmoyer]

Navy Federal also lets you refinance and keep the new car finance option if less than 7500 miles. I think USAA sees the refinance as a used car and you get the higher interest rate. I could be wrong on that one. I went Navy Federal for 48 months.

 

[GKIII]

Navy Federal also lets you refinance and keep the new car finance option if less than 7500 miles. I think USAA sees the refinance as a used car and you get the higher interest rate. I could be wrong on that one. I went Navy Federal for 48 months.

I think anything older than the previous model year is considered a 'used' car for loan purposes with USAA. A 2020 should be good to go for new car rates.