Tune Up Your Car Loan

"Refinancing can be ... the most profitable legal act many humans are capable of performing," says consumer author Andrew Feinberg.

Think about it: At a time when it's hard to earn as little as an extra half a percentage point or more on your savings, you might be able to "earn" two or three percentage points by improving your auto loan rate.

Buying a new car or truck is a thrill. Many buyers will do just about anything to acquire the vehicle they want. Sometimes, that includes going for a "right now" loan instead of the best loan rate.

If that happened to you, don't passively suffer buyer's remorse. Call one of the loan officers at Air Force Federal Credit Union.

If the vehicle's still fairly new, and you qualify, we'll help you trade in that costly loan on one that won't dent your fenders.

How much can you save?

Say you've had a 60-month car loan at 6.3% annual percentage rate (APR) for one year, and you financed $15,000. At monthly payments of about $292, your current balance is about $12,365.

If you can refinance at 4.75% APR for the remaining four years of your loan, monthly payments will go down slightly, to about $283. But you'll pay about $419 less in total finance charges for the remainder of the loan.

That's a deal with real road appeal.

Refinance your auto loan at Air Force Federal Credit Union. Or get more detail by visiting any branch office or calling us at 210.673.5610 or 1.800.227.5328. We’ll be glad to help.