Auto Loan Refinancing
At Topside Federal Credit Union, members can receive up to 1% cash back on their auto loan refinance from another lender.*
Refinancing Your Car Loan With Great Benefits
When it comes to auto loan refinance, Virginia and Maryland residents trust Topside Federal Credit Union. Members know they’ll get a great rate, terms to fit their needs and circumstances, and a hassle-free application and approval process. We also offer 1% cash back up to $250 on all of our auto loan refinances. If you’re thinking about refinancing your auto loan, you want a financial institution behind the wheel that will give you a smooth ride.
1% Cash Back (up to $250) on Auto Loan Refinances From Another Lender
Easy Online Application
Low Interest Rates
Electronic Document Signature
Funds Often Available Same Day as Approval
GAP Coverage & Extended Warranty Options
See Our Car Loan Rates
Refinance your auto loan with rates as low as possible for a lower monthly payment and a little more extra cash in your budget.
How to Apply
We offer a user-friendly, streamlined online application process that makes refinancing as simple and easy as a weekend drive!
step 1 | Apply Online or Schedule an Appointment You can fill out our simple online application or schedule an appointment to apply for a loan in person. |
| step 2 | Sign Your LoanReview your loan terms and sign them from your device at your convenience with DocuSign®. |
| step 3 | Enjoy Convenience and AccessibilityOnce you're approved, our convenient online banking and E-Statement service allows you to set up automatic payments so you never miss a payment! |
Car Loan Frequently Asked Questions
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When should I consider refinancing my car?
There are a number of reasons you might consider refinancing your auto loan. Since interest rates are based on creditworthiness, if your credit score or credit history have improved, you might want to try to secure a loan with a more favorable APR (annual percentage rate).
Other reasons you might want to refinance include a budgetary need or desire to change terms in order to get a lower monthly payment, there has been a drop in interest rates from when you initially borrowed, or your car is worth more than your remaining loan balance.
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How does interest on my auto loan work?
Most auto loans have interest that accrues daily, starting from the day you sign the loan until the day you pay it off. The total amount of interest you pay is based on your loan balance, interest rate, and the number of days in the year. A part of each monthly car payment applies to the principle, and another part of it applies to the interest.
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How quickly does approval happen?
We have a quick and easy online application and offer electronic document signing, so you don’t need to come into one of our branches. Once you apply to refinance, if you’re approved, the approval should happen within 1 to 2 business days.
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How do I get the best auto loan rate?
To get the best auto loan rate, you’ll want to make sure your credit is in tip-top shape before you apply.
Also, the shorter your loan term, the lower your interest rate will generally be. Since we’re a member-owned not-for-profit, we have exceptionally low rates- usually lower than the big banks have.
If your credit is fair and you’re working to improve it, talk to us about whether refinancing is right for you. It might be that while you won’t get the very best rate, you’ll still get a good one with us that is better than your existing one.
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What if I want to refinance but I need to improve my credit first?
As a credit union, we offer financial products and education resources designed to help you improve your credit, become more financially literate, and secure a better future.
Whether it’s working to build your credit with our Credit Builder Credit Card or helping set and manage a budget with our financial educator, we can help!
More Auto Loan Resources
See some other services and programs we offer to help you protect your loan and your vehicle. If you have questions about them or our other products and services, please let us know. We are here to help.
Mechanical Breakdown Protection
Protect your vehicle from unexpected repair costs due to mechanical or electrical failure.
Learn More
Ready to Get Pre Approved for a New Car Loan?
It’s time to drive off in your dream car. Apply now or contact us with questions. We’re always here to help.
* For Cash Back: The minimum loan amount is $10,000, maximum loan amount is $75,000. The minimum loan term is 12 months, maximum loan term is 84 months. Maximum cash back amount is $250 per loan. Cashback amounts are subject to all applicable taxes and are the responsibility of the member. Membership eligibility is required. All credit union loan programs, rates, terms and conditions are subject to approval and change at any time without notice. Existing Topside FCU loans do not qualify for this offer. The cashback will be deposited into the member’s savings account approximately 90 days after loan closing, upon verification of on-time monthly payments.
**Annual percentage rate may vary depending on individual credit history and underwriting terms. View www.topsidefcu.org/loan-rates for more information.
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