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Old 03-28-2024, 03:10 PM
 
Location: Raleigh
75 posts, read 65,139 times
Reputation: 38

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Hello - I am helping/encouraging my twenty-three year old adult son to refinance his auto loan. Not sure if local/branch availability is critical as so much is done online these days. We bank with Wells Fargo - thinking it's not such a good option. I am interested in recommendations from folk who've "been there, done that". TIA.
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Old 03-28-2024, 03:31 PM
 
183 posts, read 98,030 times
Reputation: 243
Check out Coastal Credit Union.
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Old 03-28-2024, 04:18 PM
 
Location: under the beautiful Carolina blue
22,681 posts, read 36,850,940 times
Reputation: 19929
My auto loan was with Coastal. I got rid of the vehicle after 18 months because it was nothing but trouble and the manufacturer didn't want to deal with known problems. Rolling the loan over to another car was seamless. I do bank with them.
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Old 03-28-2024, 05:55 PM
 
1,257 posts, read 1,188,043 times
Reputation: 1279
I actually joined the US Senate Federal Credit Union this morning, because they have super competitive auto loan rates. They let anyone join if you become a member of the American Consumer Council (it’s free).

https://www.ussfcu.org/resources/rates/rates.html
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Old 03-28-2024, 05:56 PM
 
1,257 posts, read 1,188,043 times
Reputation: 1279
Wells Fargo apparently doesn’t do auto loans unless it’s through a dealer.
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Old 03-31-2024, 12:15 PM
 
Location: Cary, NC
468 posts, read 702,524 times
Reputation: 480
In general credit unions are the way to go and it does not have to be local. I've joined credit unions in Michigan and Pennsylvania in the past few years to get the best rates.

There are some credit unions with specific membership criteria but most will take anybody with a token donation or fee.

The US Senate FCU mentioned by farebluenc is the best one I've seen recently.
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Old 04-01-2024, 05:38 AM
 
5,743 posts, read 17,615,721 times
Reputation: 4793
We have been members of Coastal Credit Union for 15+ years and have financed 2 cars through them. No problems with that part of their business. I do find their website rather 'clunky' though, and their use of a home-grown money app to be rather limiting.
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Old Yesterday, 11:16 PM
 
290 posts, read 364,069 times
Reputation: 713
Any updates on this? I'm a member of US Senate FCU but I'm finding slightly better rates. Like to get it as close to 5% as possible.
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