Explore the many reasons to refinance an auto with Travis Credit Union in this featured blog post with Catrina Roberts, Direct Funding Specialist in our Consumer Lending division. She answers commonly asked questions about why it's beneficial, from lower payments to cash back and much more.
Q: What are the potential benefits of refinancing my Auto Loan with Travis?
A: You could potentially lower your interest rate, allowing you to save money over the life of the loan. You could choose the term you want, from 12-84 months,*** based on the amount financed. Eligible members can also take advantage of our “90 Day No Pay” option. Travis offers Online Bill Pay and Mobile Banking to make Auto Loan payments quick and easy. Refinance your Auto Loan now, and for a limited time, you’ll get a 1% Cash Bonus* to use any way you like.
Q: Why choose Travis Credit Union over a big bank?
A: TCU doesn’t charge extra fees like big banks, yet we offer competitive rates that are comparable with other financial institutions. As a not-for-profit institution, our earnings don’t go to shareholders but back into savings for our members and into the support of our financial education efforts through our Awesome Cause.
Q: Does Travis charge a fee to refinance my vehicle?
A: No! We are all about helping our members avoid unnecessary fees.
Q: Can I take cash out on my vehicle?
A: Yes. If you have equity in your vehicle, we can offer up to 125% of the vehicle value, which allows the owner to take out extra money to pay off higher-interest debt or to use for other expenses.
Q: Are there early repayment penalties if I want to pay off my Auto Loan earlier?
A: No! Travis doesn’t charge pre-payment penalties on any of the consumer loans offered.
Q: What do I need to refinance my vehicle with Travis?
A: You’ll need a valid Driver’s License, a copy of registration that is valid for a minimum of 80 days, any payment coupon from the current lienholder/financial institution holding your loan, and the exact mileage on the auto.
No matter if you’re buying or refinancing, talk to us first about your Auto Loan and see how Travis can save you money. We’re local, convenient, and competitive, and we offer flexible terms to suit you.
Refinance Your Auto Loan
About Catrina Roberts:
Cat is a Direct Funding Specialist who has been with Travis for four years, starting as a Teller and also experienced in Card Services. Cat is fully committed to making sure our members have the right product to help them achieve their financial goals.