Start Saving on your Auto Loan by Refinancing
Our competitive interest rates ensure you’ll get the best deal in under 10 minutes.
REFINANCE & SAVE
In less than 10 minutes, you could save thousands of dollars on your monthly car payments.
Enjoy up to 60 days with no car payments.
Reduce your monthly car payments by as much as $150
No fee to apply
FAQ's
Questions about auto loan refinancing are common, especially when it comes to eligibility, required documentation, potential savings, and the application process. We’ve compiled answers to frequently asked questions to help you better understand your options and make the process easier.
Still have questions? Contact us at 434-237-1566 or [email protected], and a team members will assist you.
Is there a fee to apply?
There is no fee to apply.
What if I don't have excellent credit?
All credit scores are welcome! You may be surprised to find that even with less-than-perfect credit, you could save on your monthly car payments. Apply today to discover your potential savings. If you received a credit offer letter with a promo code, you were pre-qualified at the time and met our initial credit criteria.
Is my personal information secure?
Beacon Credit Union and our marketing partner are committed to protecting your personal information. For more details on how your information is handled, please review our privacy policy.
How do I benefit by refinancing my auto loan?
In most cases, if you financed through a dealership, you would probably save a significant amount by refinancing. Or if your credit score increased since purchasing the vehicle, you may qualify now for a lower rate.
Once I'm pre-qualified, when does my offer expire?
Your offer expires six weeks after you are pre-qualified, and you can use it any time before the expiration date. If your offer expires before you’re ready to refinance your vehicle, you’re still welcome to apply. Please note that rates and payments may change based on market conditions.
Do I have to extend the term of my current loan?
You are not required to extend your loan beyond your current term. However, in some cases, extending your loan term may be necessary to meet lending requirements or maximize your monthly savings.
What does pre-qualification mean?
Pre-qualification means you have been initially approved based on the credit information the credit bureaus provided to our financial institution. You were selected because your credit score falls within an acceptable range. However, additional factors, including your vehicle details and current employment information, must be reviewed before a final approval decision can be made.
What documents will I need to provide the lender?
In general, these documents will be required:
- Driver’s License
- Registration
- Proof of Insurance
- Proof of Income
- Title: if you are in a state where you are responsible for holding the vehicle title, you will need to provide it for the title to be perfected for the new lender
- Other documentation may be required.
About Beacon Credit Union
Beacon Credit Union is a full-service financial institution offering a wide range of financial products and services. For more than 80 years, we have proudly served Lynchburg and the surrounding communities.
Our vision is to deliver exceptional financial services in a professional manner while supporting growth, earning the trust of our community, and operating with integrity. We are committed to building lifelong relationships with our members by providing personalized service and helping them achieve their financial goals.
Need Assistance? We're Here To Help!
We strive to make contacting us and starting the auto loan refinancing process as easy and convenient as possible. Our dedicated representatives are ready to assist you every step of the way, helping ensure a smooth and efficient experience tailored to your needs.
