An auto loan refinance lets you swap out your current loan for something new and different. You could get a lower rate, lower monthly payment or both!
To refinance with Somerville’s Credit Union, simply apply for an auto loan. Once approved, we’ll pay off your old auto loan and you begin making payments on your new loan with us. And don’t worry, we’re with you every step of the way!
If you didn't shop around for your best rate when you bought your car, it's not too late to see if there's a better deal waiting for you.
You could qualify for a better rate now if your credit score has improved since you got your loan. It's worth checking to see what your options are!
If your budget needs a break, you could switch to a longer term. You'll pay more interest overall, but you'll reduce your monthly payment.
Not sure what’s right for you? Get in touch with our team. We’ll discuss your situation, explain your options, and help you make the right move for your budget and goals.
