QuestionQUESTION: I bought Honda CRV 2012 at 4.99 apr eairlier this year. I was told by the dealer that my credit score is excellent but that is best they can give and I am free to refinance after a month. I am not memeber of any credit unions.
Could you please guide me where can I start to get better rate?
Thanks.
ANSWER: Sabin,
Great car, and financing rate is good. You may do better with a credit union. You can go join now, and ask to apply for a loan as that will not be a problem. Honda did mis-inform you though. You could have changed the financing even the next day, that is your perogative. I would check at the bank you do everday business and again, go to the local credit union. Let me know what happens and good luck.
STEVE
---------- FOLLOW-UP ----------
QUESTION: Thanks Steve.
I am not familiar with credit union. Could you please provide me any website to get started. I live in zip code 20817.
AnswerSabin, credit union is similar to a bank, everything is insured and protected. Here is one i found near you, call or go there and speak to them about joining and getting an auto loan to re-finance your current one:
Mid Atlantic Federal Credit Union
P.O. Box 2270, Germantown, MD 20875
Phone 301-944-1800, 800-95-MAFCU (956-2328)
mafcu@mafcu.org
Let me know if you do better, good luck!!!
STEVE
