Auto Loan Refinancing
Refinance your current auto loan from another financial institution and enjoy a 2.00% APR¹ rate reduction², plus a $250 cash back bonus³!
If you have had your auto loan with another financial institution for 90 days or more, we want to talk to you! When you refinance your loan with Bangor Federal, open a Full Circle Checking account, and meet our account requirements, you’ll receive $250 deposited to your checking account³.
PLUS, you will have access to:
• Up to 100% financing of your pay off balance with terms up to 60 months.
Do you have a 600 Credit Score or higher?
We understand that not everyone has had perfect credit and financial hiccups happen. Our Lending Team is ready to talk with you and see what can be done to reduce your rate and help you rebuild your credit.
See how much you can save by refinancing with Bangor Federal!
Loan Savings Comparison Example*
|Vehicle Loan Amount||$10,000||$20,000|
|Term||60 months||72 months|
|Average Rate from Dealer||5.50% APR||6.00% APR|
|BFCU Rate with Reduction||3.50% APR**||4.00% APR***|
|Total Savings||$550.00 over the life of the loan||$1,100 over the life of the loan|
*Chart is used for example only; true rate and payments may vary depending on additional costs such as extended warranty and GAP. Total savings for life of loans is approximation.
**Annual Percentage Rate. 3.50% for 60 months = $18.24 per thousand, principle, and interest.
*** Annual Percentage Rate. 4.00% for 60 months = $18.48 per thousand, principle, and interest.
You can also apply through the Bangor Federal Mobile Banking App,
or visit one of our convenient locations and ask to speak to a loan officer.
¹ APR =Annual Percentage Rate.
² Rate Reduction of 2.00% will be taken off your current financed rate. Lowest rate offered at 2.49% for up to 60 months. Offer is subject to change without notice.
³ $250 Cash Back Bonus is given 90-days after a Full Circle Checking account is opened and meets all requirements such as: Open Online Banking and e-Statement enrollment, Deposit established to the checking account, Auto loan transfers to the auto loan from the checking account, Visa® Debit card activation and usage.
4 Coverage provided at an additional cost. Subject to certain exclusions and benefit limitations. Does not cover branded titles (salvage, rebuilt, etc.).
5 Pricing and coverage varies per vehicle, year, and mileage factors. Program does not cover any branded titles (salvage, rebuilt, etc.).
Loans subject to credit qualifications and approval. Existing Bangor Federal auto loans do not qualify for this offer. Offer good through October 31, 2017.