Refinance Car Loan

[bullabulla]

Amount Due : 16500
Interest Rate : 11.25 ( High, as i didnt have a credit history, just relocated from aussieland when i took the loan - now i have a decent score )
Car : Used, purchased from a dealer
Loan term: July, 2012
Car : 2004 model BMW

Now i want to refinance the loan

I checked with Eloan and they are offering a good rates of around
7.59% 7.59% 8.09% 8.09% 8.59% 8.59%

My loan doesnt have a pre-closing penalty

Any advise on the best way to go about

[maat55]

You might try a local credit union.

[safari]

PenFed is offering 4.25% on new and used cars. They also have a credit card with 5.99% APR on balance transfers for the life of the balance.

[loulou]

I second PenFed. I refinanced my home mortgage with them a couple of months ago and I love them. You have to pay a $20 fee to become a member, but it's definitely worth it.

[bullabulla]

Thanks guys..I will check with them

[bullabulla]

I live in New York and work for a Consulting firm. I am not eligible for PenFed. https://www.penfed.org/howToJoin/overview.asp

[noppenbd]

I would try this and see what credit unions you are eligible for:
Credit Union Locator

Make sure you try both the geographic search and the eligibility search.

[safari]

I live in New York and work for a Consulting firm. I am not eligible for PenFed. https://www.penfed.org/howToJoin/overview.asp

Anyone can join PenFed by paying $20 for a membership in the National Military Family Association (the information is at the bottom of the page you linked to). My friend recently joined PenFed that way and got a used car loan at 4.25%.

[bullabulla]

Anyone can join PenFed by paying $20 for a membership in the National Military Family Association (the information is at the bottom of the page you linked to). My friend recently joined PenFed that way and got a used car loan at 4.25%.

Thanks a lot - I missed this

[bullabulla]

I would try this and see what credit unions you are eligible for:
Credit Union Locator

Make sure you try both the geographic search and the eligibility search.

Thanks