Vehicle Refinance Program 2023
Terms:
Model Years 2022 & 2023:
1. Refinance autos financed with another financial institution.
2. If the loan is for a 2022 or 2023 financed within the last 6 months and the mileage does not exceed 15,000, we will refinance it for 2.00% below the current financed rate as new. *
3. Refinance term may be based on the remaining term plus six (6) months; cannot exceed original finance term.
4. Floor rate is equal to the Wall Street Journal Prime (WSJ Prime) Rate minus 2.50% (250 Basis Points) but will not go below 3.50% APR. **
Model Years 2019 up to 2021 (2022 if financed over 6 months ago):
1. Refinance autos financed with another financial institution.
2. If the loan is for a 2019 UP to 2021 (2022 if financed over 6 months ago), we will refinance it for 2.00% below the current financed rate as used. *
3. Refinance term may be based on the remaining term plus six [6] months; cannot exceed original finance term.
4. Floor rate is equal to the Wall Street Journal Prime (WSJ Prime) Rate minus 2.50% (250 Basis Points) but will not go below 3.50% APR and may not exceed 72 months (6 years) from date of credit union financing. **
Disclosure:
* Loan documentation from another institution must be presented. New & used vehicles considered for the program are auto’s, motorcycles, RV’s, & Boats. Vehicle Loan Refinance Program’ rates are based on the original financing contract presented to the credit union as part of the application process. Not all applicants will qualify for the lowest rate offered since the rate is based on the original financing contract presented as part of the application process. Certain restrictions may apply. The AFL-CIO EFCU reserves the right to terminate this promotion at any time without advance notice. AFL-CIO EFCU reserves the right to change rates without advance notice.
** Floor rate on Refinanced Auto Loans from another financial institution is based on the Wall Street Journal Prime (WSJ) minus 2.50% [250 basis points] but will not go lower than 3.50% APR. The 3.50% APR is the lowest [floor] rate if all refinance rate reductions and/or discounts were to be applied to the original financing contract.