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Refinance a Vehicle

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car driving on a road passing windmills and mountains.

Refinance your auto loan and save more. Whether you are looking to lower your monthly payment, lower your interest rate, or just looking to improve your credit score, UCCU is here to help.

Why Refinance a Loan

Car loan refinancing can be a smart financial move, especially if your credit score has improved since you originally obtained your auto loan. Common reasons to refinance are:

  • Lower Monthly Car Payments: Secure a lower interest rate to reduce your monthly expenses on your vehicle.
  • Save Money: Paying less interest over the life of your loan, putting more money back in your pocket.
  • Change Loan Terms: Adjust the duration of your loan to better fit your financial situation.
  • Improve Your Credit Score: Making consistent, on-time payments through a refinance can boost your credit score.

How to Refinance Your Car Loan

  1. Check your Credit Score: This ensures your credit score has improved and that refinance is a financially smart decision.
  2. Gather Documentation: Prepare the current car loan documents needed such as personal income details, vehicle information, and current loan details.
  3. Contact a UCCU Representative: Submit your official application to the UCCU representative and they will calculate what refinance options are available for your situation.
  4. Review Offers: Review the offers presented from the representative and find the option that best fits your needs
  5. Finalize Your Loan: After selecting the desired loan option, complete the process with your UCCU representative.

Ready to Refinance?

Contact a UCCU representative in each branch to see if a car refinance is the right step for you.

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(801) 223-8188 | Branch Locations

Available M–F 8am–6pm, and Sat. 9am–2pm,

Frequently Asked Questions

When is the best time to refinance a car loan?

The best time to refinance can vary based on the the current situations. Common refinance times include when interest rates have dropped, when you have positive equity in your vehicle, or a positive change in your financial situation. Occasional lender changes in their policy can also push for car loan refinances.

How long does the Car Loan Refinance process take?

Refinance processes vary on time based on the complexity and and available information you have on the vehicle. If all paperwork is presented to the UCCU employee and the inspection complete may allow the refinance to take place within an hour. Complications and missing paperwork may increase the time it takes to process the loan.

Are all vehicles available for refinance?

It depends on the value of the vehicle. If the vehicle has maintained value in the eyes of the lender, there will be options for refinancing. Typically newer cars hold a higher value and are more often refinanced than older used vehicles.