Just refinanced the S...
06-15-2010 | 06:02 PM
#1
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Joined: Jan 2009
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From: NJ Shore
Just refinanced the S...
Just wanted to give you guys a heads up if you currently have a loan out for your S. A year ago when I got the S, I financed through Chase with a rate of 6.9% for 60 months. My wife pointed out Chase's auto refinance rates yesterday so I called and got approved to refinance at 4.19% for 48 months. It lowers my payment by about $30/mo which is at least $1440 in interest over the life of the loan and the S still gets paid off at the same time! 
06-16-2010 | 06:27 AM
#4
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From: QUEENS, NY 718.445.9995
Originally Posted by gofast182,Jun 15 2010, 05:02 PM
My wife pointed out Chase's auto refinance rates yesterday so I called and got approved to refinance at 4.19% for 48 months. It lowers my payment by about $30/mo which is at least $1440 in interest over the life of the loan and the S still gets paid off at the same time!
congrats lol.
06-16-2010 | 07:28 AM
#7
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Any fees to go along with that refi? How does it compare to your previous agreement other than money? Just curious.
Banks aren't in the nice business. They are in the money business. If your terms are the same and no extra fees were added then I would say its a great deal. Now if they changed your agreement and say for example they hiked up the early pay off/termination fee then I would say it may not have been the best move depending on what your pay off plans are. I trust a banker about as much as I trust a car salesmen.
No offense intended S2Legend.
Banks aren't in the nice business. They are in the money business. If your terms are the same and no extra fees were added then I would say its a great deal. Now if they changed your agreement and say for example they hiked up the early pay off/termination fee then I would say it may not have been the best move depending on what your pay off plans are. I trust a banker about as much as I trust a car salesmen.
No offense intended S2Legend.
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06-16-2010 | 08:05 AM
#8
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From: The Antagonist
Penfed has great rates. The used and new car rates are 3.99% as long as you qualify. I reduced my payments and loan term with a refi with them. I actually refinanced my Z in Phill's dealership while my co-worker was buying a car from him
06-16-2010 | 09:50 AM
#9
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Joined: Jan 2009
Posts: 3,699
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From: NJ Shore
It's a Chase to Chase refinance so there's only a $75 loan origination fee. I'm actually 13 months into my current loan so I avoid the early payoff fee that I would have incurred if the transaction would have been done in the first 12 months.
Point is... if you have a loan on your S, check it out. Hopefully others can save some money, too.
Point is... if you have a loan on your S, check it out. Hopefully others can save some money, too.