Lower Your Auto Loan Payment
Refinance with Spirit Financial and we’ll beat your rate by 1%,* plus 90 days deferred
Refinancing your auto loan could put hundreds of dollars back in your pocket every month. At Spirit Financial, we make it simple, and we're confident we can help. Bring us proof of your current auto loan rate, and we'll beat it by 1%*. Plus, you'll make no payments for 90 days. Whether you're looking to lower your monthly payment, reduce the time it takes to pay off your car, or both, auto loan refinancing is one of the smartest financial moves you can make.
Auto Loan Refinance Rates
Auto Refinance Benefits
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Up to 120% Financing
Finance up to 120% of NADA value, plus tax and tags******
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Competitive Auto Loan Rates
Credit union rates often beat banks and dealerships.
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Flexible Terms Up to 84 Months
Choose a repayment schedule that fits your budget.
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Easy Online Application
Apply from anywhere, no branch visit required to get started.
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GAP Coverage (Guaranteed Asset Protection)
Covers the difference between what you owe and what your car is worth if it's totaled.
Effective Date (11/09/2020) and Rates Subject to Change.
| New | APR****** |
|---|---|
| Up to 60 months | as low as |
| Up to 72 months | as low as |
| Up to 84 months | as low as | Used | APR****** |
| Up to 60 months | as low as |
| Up to 72 months | as low as |
Learn More About Auto Refinancing
How Auto Loan Refinancing Works
Refinancing means taking out a new loan with a different lender to pay off your existing auto loan. Spirit Financial pays off the old loan, and you start making monthly payments to us instead, usually at a better interest rate.
The result? Lower monthly payments and less interest paid over the life of the loan. Even a small rate reduction can add up to hundreds or thousands in savings.
We offer auto refinancing with terms up to 84 months, financing up to 120%****** of your vehicle's NADA value, and a minimum loan amount of $5,000. All loans are subject to credit qualifications.
Am I Eligible?
Most borrowers qualify for auto refinancing if they meet these requirements:
- Vehicle meets our age requirements
- You owe at least $5,000 on your auto loan
- Refinancing from another institution (current Spirit Financial auto loans are not eligible)
- Acceptable credit profile: all loans based upon credit qualifications
- Spirit Financial member (or eligible to join)
If you live, work, worship, or attend school in Bucks County, you're eligible for membership.
GAP Coverage (Guaranteed Asset Protection)
GAP insurance covers the difference between what you owe on your vehicle and what it's worth if it's totaled or stolen. It's especially smart if you're financing more than your vehicle's current value.
Ask about adding GAP coverage when you refinance. It's optional, but can save you from being stuck paying off a loan on a car you can no longer drive.
Why Refinance with Spirit Financial?
Serving Bucks County since 1953. Here's why members trust us with their auto loans.
1%* Rate-Beat
Bring proof of your current rate and we'll reduce it it by 1%.*
Credit Union, Not a Bank
Lower rates and no predatory fees. You're a member, not just a customer.
Local Roots
We've served Bucks County families since 1953. We know this community.
No Payments for 90 Days
Refinance and defer your first payment for 90 days. Enjoy a little breathing room in your budget.
Frequently Asked Questions
Have more questions? Call us at (267) 580-0230 or email Loans@spiritfinancialcu.org
- Refinancing does trigger a hard inquiry on your credit report, which may cause a small temporary dip. But as you make on-time payments with us, your score typically rebounds, and usually gets a boost from paying down the old loan balance. The long-term benefits outweigh any short-term effect.
- Most refinances close quickly once you're approved, depending on how fast you provide documents. We'll keep you updated every step of the way.
- Yes. We offer financing up to 120%****** of your vehicle's NADA value for qualifying borrowers. If you're upside-down on your loan, that's exactly what GAP coverage is for.
- All loans are based upon credit qualifications. Your rate may be higher than our best published rates, but it could still be better than what you're paying now. Fill out an application and let us review your situation.
- No. We quote you an all-in rate and monthly payment upfront. There are no surprise fees at closing. What you see is what you pay.
- No. But you will need to join to close your loan. You're eligible to join Spirit Financial if you live, work, worship, or attend school in Bucks County.
Three Ways to Get Started
* Floor rate is 4.24% APR - Annual Percentage Rate. Minimum auto loan is $5,000. Current Spirit Financial Credit Union auto loans are not eligible. All loans subject to loan to value and other qualifications for final underwriting approval. If our regular rate provides you with more savings than this offer, you will receive the lower of the two rates. Proof of your current rate (APR) is required. Auto financing up to 120% of value and terms up to 72 months. For 2016 and newer vehicles. All loans based upon credit qualifications. Not all members will be eligible. Finance charges will accrue during the 90 day no payment option. Contact the credit union for complete details.
****** APR = Annual Percentage Rate. Rates are for qualified borrowers and are based on the credit worthiness of the individual. Actual rates may be different than the rates shown. 120% NADA on 2016 and newer models.