PERSONAL FINANCE MANAGEMENT

Let’s Refinance Your Auto Loan – A Good Idea Or Not?

The Southern Chautauqua Federal Credit Union is one of the many cooperatives in upstate New York. It is a non-profit cooperative financial service institution owned and operated by its members. Membership in the cooperative is limited to those who live in the nine counties surrounding the members’ cooperative. This means that residents of the nine counties are not allowed to join unless they reside within the cooperative.

Members are constantly buying groceries, buying household items, paying their electric bill, and purchasing whatever else a member can think of. This leaves them short of cash on hand to meet their needs. Southern Chautauqua Federal Credit Union has established an emergency fund through which members can easily fulfill their basic needs. If you have been thinking about applying for government sponsored debt consolidation loans, then this is the perfect time to do so!

One way that the South Carolina Credit Union has made its debt consolidation loans more attractive than competitors is by offering an interest rate with which members cannot compare to anyone else. Even members who have the exact same income and savings can sometimes be interested in other offers. So by refinancing with us today, you are telling the government that you are willing to take a risk. The government knows that they can never make you pay the interest they require of you, so they are offering you the opportunity to come to term with their terms.

Another thing that the South Carolina Credit Union has done to make refinancing with us easy is that we have negotiated rates with our suppliers. Because we are a non-profit membership organization, we were able to secure better rates for our members than they could get from some other financial institutions. This is one reason why you may be able to save money when you refinance with us. Our generous rates will help you save money on your vehicle repairs or any other reason that you have to come up with extra money to pay your automobile repair bills.

Members of the South Carolina Credit Union may even be able to refinance their auto loan with us and still qualify for debt protection. Let us explain what debt protection is all about. When you sign up for an automobile loan, the contract that you enter into with the lender spells out your obligations to them. You need to make your monthly payments on time or you risk losing your vehicles or credit score because of defaulting on payments. The contract also spells out the penalties or fees that can be charged if your payments aren’t made on time and in full.

When the recession hit, many Americans became stuck in their vehicles. In order to get a car, they needed to find a loan so that they could purchase the car that they wanted. Unfortunately, many of these same people then turned to debt consolidation companies for help to consolidate their debts and become more financially stable. The South Carolina Credit Union tried to help them as well but was denied a request to extend the debt consolidation program. Because the union did not want to pay for additional debt protection, they gave the members a good idea on how to protect themselves when they refinanced their auto loans with us.

They were able to set up a plan for our member to use to protect their families. Because this program worked out so well for them, they were able to protect our money and the South Carolina Credit Union got a percentage of the monthly payment back from these individuals. Now they were able to give our loan department a call every month and have their payment directly deposited into their checking account. These people were able to get out of debt and build a secure retirement. Their story is very important to us and is why we continue to work hard to help other people every day. If you are in a financial bind like one of our members was, then you may be able to learn more about debt protection today by refinancing your auto loan with us.

Let us help you find out more about refinancing your auto loan with us. You do not have to put up your car or home until you can afford it. We are here to help guide you through the process and help save you money. Take the time to call us today. You may be able to secure a better interest rate than what you currently have.

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