Why Refinance with Beacon?
Lower Your Interest Rate 💸
With a better rate, you could save hundreds or even thousands of dollars over the life of your loan. Refinancing can make your payments more manageable and help you get closer to paying off your loan early.
Flexible Boan Terms 🔄
Whether you're looking to pay off your loan quickly or extend the term to lower your payments, BCU offers flexible loan terms that work for you.
No Hidden Fees 🚫💰
Transparency is key at BCU. We believe in helping you save without charging extra fees. The process of refinancing is straightforward and simple, with no application or prepayment fees.
Fast & Easy Application ⏱️✍️
Applying for an auto refinance loan with BCU is quick and easy. Simply fill out the online application form and get a decision in no time. Our friendly team will be here to help every step of the way.
Expert Guidance 💡
Not sure if refinancing is right for you? BCU’s expert financial advisors are available to discuss your options and help you understand the impact of refinancing on your overall financial picture.
Frequently Asked Questions
Is there an application fee?
There is no cost to apply.
What if my credit isn't excellent?
All credit scores are welcome! In fact, individuals with less-than-perfect credit often discover even greater savings. Apply now to see how much you could save each month. If you received a credit offer letter, you were pre-qualified at that time and already meet our initial credit criteria.
Is my personal information secure?
What are the benefits of refinancing my auto loan?
In most cases, if you financed through a dealership, refinancing could help you save a significant amount. Additionally, if your credit score has improved since you purchased the vehicle, you may now qualify for a lower rate.
After I'm pre-qualified, how long is my offer valid?
Your offer is valid for 6 weeks after pre-qualification. You can use it up until the expiration date. If your offer expires before you're ready to refinance, you can still apply, but please note that rates and payments may change based on market conditions.
Is extending the term of my current loan required?
You’re not required to extend your loan beyond its current term. However, in some cases, extending the term may be necessary to meet lending requirements or to maximize your monthly savings.
What does it mean to be pre-qualified?
Pre-qualified means you've been pre-approved based on the credit information provided to our financial institution by the credit bureaus. You were selected because your credit score falls within an acceptable range. However, additional factors, such as vehicle details and current employment, will need to be reviewed before final approval.
What documents do I need to provide to the lender?
- 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.
