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Auto Loan Refinancing

Is refinancing your auto loan the right move for you? Refinancing with First Northern Credit Union is fast and easy, and could mean a lower rate, a lower payment — or both! 

Which Auto Refinancing Option Is Best For You?

 

Lower Your Payment By Lowering Your Rate

Conventional auto refinancing usually means lowering the rate you are paying at another institution — and that lower rate could mean you're saving money each month! What would you do with thousands of extra dollars over the life of your loan? 

  • Rates as low as 5.34% APR*
  • Terms up to 72 months
  • Refinance up to 100% of the vehicle's value
  • No application fees
  • Your monthly payment remains fixed over the life of your loan
  • We refinance vehicles up to 7 model years old
  • Optional GAP, Debt Protection, Extended Warranty and Mechanical Repair Coverage available

Apply Now  CALCULATE YOUR SAVINGS 

 

Auto Loan Refinancing Rates

 

 

Get a monthly payment of up to 40% less

Driving Sense™ is similar to a lease but better — it combines all the benefits of owning a vehicle with the advantages of leasing.

And, you can save up to 40% less each month when you choose Driving Sense! 

  • Available on new or pre-owned vehicle purchases, or refinance your existing vehicle loan to save money!
  • Vehicles up to five years old qualify 
  • Flexible loan terms of up to 72 months 
  • A one-time program fee of $895 applies which can be paid upfront or financed into the loan1
  • Annual mileage options of 7,500, 10,000, 12,000, 15,000 & 18,000 available 
  • No down payment, early payoff penalty, security deposit or acquisition fees 
  • Easily upgrade and/or change your vehicle every couple of years—or walk away at the end of your term! 
  • GAP coverage is included at no additional cost to you ($579 value)
  • Optional Extended Warranty and Mechanical Repair Coverage available

 Learn More APPLY NOW  CALCULATE YOUR MONTHLY PAYMENT

 

Driving Sense: Loan/Lease Hybrid Rates

 

Driving Sense: New Vehicles (Purchase or Refinance)
Term APR*
Up to 29 months As low as 5.59%
30 - 41 months As low as 5.79%
42 - 53 months As low as 6.09%
54 - 65 months As low as 6.29%
66 - 72 months As low as 6.79%

ApplY FOR A NEW AUTO Get a Custom Quote Learn More 

Driving Sense: Used Vehicles (Purchase or Refinance)
(5 model years or newer)
Term APR*
Up to 62 months As low as 6.29%
63 - 66 months As low as 6.59%
67 - 72 months As low as 6.79%

Apply for a used autO Get a Custom Quote Learn More 

*APR=Annual Percentage Rate. Repayment example for a vehicle priced at $40,000 with a loan amount of $21,500: At 6.29% APR and term of 60 months with the $895 one-time program fee financed into the loan: Payments 1-59 are $435.98 with a 60th/final payment due for the residual value amount of $18,500 (Guaranteed Future Value) and total interest paid of $4,659.06.

You have four options to satisfy the final payment, as noted above. If you elect to return the vehicle you will have the following obligations: 1. All original equipment that came with the vehicle when you purchased it must still be with the vehicle. 2. If you exceed your mileage allowance, the excess mileage fee is $.10 per mile, and 3. The condition of the vehicle when returned must comply with the Loan Addendum provided to you at the time of loan disbursement. If you return the vehicle in accordance with the Loan Addendum, you will be charged a low $195 disposition fee and the residual amount is considered to have been fully satisfied and the loan is closed. 

New Auto Loan Refinancing: Promotional Rates
Includes current and one-year prior model year vehicles refinanced from another lender
Term APR*
Up to 29 months As low as 5.34%
30 - 41 months As low as 5.54%
42 -53 months As low as 5.84%
54 - 65 months As low as 6.04%
66 - 72 months As low as 6.54%
Used Auto Loan Refinancing: Promotional Rates
Includes vehicles up to 7 model years' old refinanced from another lender
Term APR*
Up to 62 months As low as 6.04%
63 - 65 months As low as 6.34%
66 months As low as 6.34%
67 - 72 months As low as 6.54%

Apply Now  Learn More

*APR=Annual Percentage Rate. Limited time offer valid for refinancing an auto loan from another lender only. Existing First Northern vehicle loans do not qualify for this offer nor do Driving Sense loans, LendPro loans, First-time Car Buyer Program, Credit Rebuilder vehicle loan, Miscellaneous Collateral, and RateGenius loans. Not valid with any other offers or discounts. Subject to credit approval. Rates are subject to Lender’s credit criteria, certain conditions, and restrictions and are subject to change at any time without notice. Rate quoted is the lowest rate for highly qualified applicants. Your rate will be determined at the time of your application and may be higher. Repayment Example: A loan of $40,000 at 6.04% APR for 60 months is a monthly payment of $774.06 and total interest of $6,443.38.  **For no payments for 90 days, interest accrues from the date of loan disbursal. Title correction fee and other processing fees may apply.