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Refinancing is a joke with USAA

Refinancing is a joke with USAA

Just a gunner's avatar User  Just a gunner  (Opens a pop up layer) Occasional Contributor

I was trying the lower my APR with my Ford to start saving money to purchase a home. USAA told me that refinancing a USAA auto loan will raise the APR not lowering it. All refinancing within USAA is 9% APR. However, if I decided to purchase a new vehicle outside USAA the APR would be lower than my APR now. 

USAA told me that refinancing a USAA auto loan will raise the APR not lowering it. All refinancing within USAA is 9% APR. However, if I decided to purchase a new vehicle outside USAA the APR would be lower than my APR now. 

All refinancing within USAA is 9% APR. However, if I decided to purchase a new vehicle outside USAA the APR would be lower than my APR now. 

So if I bring business to USAA then my APR is lower but to refinance within USAA my APR would go up. NOT VERY GOOD SERVICE 

Plus USAA called the police on me one day because I would not stop talking to whoever I could to lower my APR.

 

So how can USAA make it up to us? Lower our APR and Stop changing our extra payments from principle to interest with all our loans with you.

Re: Refinancing is a joke with USAA

Lizzy00's avatar User  Lizzy00  (Opens a pop up layer) Contributor

I bought a car in June of 2015 and financed it through Santander Consumer USA (not recommended). I had to get full coverage insurance on my car, so I used USAA. Six months later, I refinanced my car through USAA and got the APR almost cut in half (21% to 13%). Both are high, I know. But USAA helped me out and was patient with me and explained everything to me as I was a first-time car buyer with little to no help.

Re: Refinancing is a joke with USAA

USAA Social Service's avatar User  USAA Social Service USAA Service

Thanks, Lizzy00! Wow, that's certainly a big difference in your APR! We appreciate you sharing your great buying experience with us! You definitely can say an car buying expert now! However, please let us know if you ever need us for any other financial questions or concerns you may have. ~ Stacy

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