Ask the Experts
How to Refinance an Auto Loan
April 16, 2020
Quick and Easy Steps to Save Money
Video Time: 01:00 | Views: 402
Interested in saving on your monthly car payments? PenFed’s Joe Leonard has over 30 years of experience in the automotive business. He shows us how easy it is to refinance your auto loan!
To get started, go to: https://www.penfed.org/auto/refinance or call us at: 1-800-247-5626.
People understand that on a mortgage
they can go out and they can refinance their loan
lower their rate,
thus lower their monthly payments.
But oftentimes people don’t understand
that on their auto loan,
they can do the very same thing.
Go on PenFed.org
and come to auto.
Once you’re in auto, scroll down to the left-hand side,
Go into the auto refinance
and it will ask you a series of questions.
What’s my current loan amount?
Your current loan amount with us
would be equal to the payoff of your existing loan.
What's the term you're interested in?
We offer anywhere between 36 and 72 months.
After that, what rate do I qualify for?
If you know your credit,
just put in the best rate available to you.
And then, what is my current rate?
And then hit compare.
You’ll be absolutely surprised.