Refinance Your Auto Loan
Auto Refinance Calculator
Find out if refinancing your car loan will give you a lower monthly payment, lower interest rate, or shorter term with this calculator.
Special Vehicle Coverage
Payment Protection for Car Loan Refinances
Refi or Lease
Refinancing Might Be for You If….
Leasing Might Be for You If….
FAQ - Auto Refinance
- If you are a member of CUTX: Log into online banking and make a payment with a funds transfer.
- If not a member: Use your financial institution to pay via Billpay
- Pay over phone: Call 972-263-9497, choose option 4 for Member Services ($15 Service Fee is applied to phone payments)
- Make a payment through Speedpay
- Make an automated payment through Telephone Teller: Call 972-263-9497, choose option 1
Most people refinance their vehicles because they can save a lot of money compared to their original loan. Perhaps the dealer gave you a higher rate than you should have had, or included extras you didn’t know you agreed to. Perhaps your credit score has improved and you qualify for a lower rate, or interest rates have fallen since you got your current loan. Whatever the reason, refinancing often means that you have the very same car for a lot less money every month.
Savings depend on many factors including whether you qualify for a lower interest rate than you currently have, whether you have extra charges on your current loan that you wish to do away with, whether interest rates have risen or dropped since you got your loan. Use the Auto Refinance Calculator to get an estimate of how much your new payments might cost.
Refinancing makes the most sense when:
- You still have several years on your current loan
- You do not owe more than the car is worth
- Your car is less than seven years old or has under 75,000 miles
- Your current Lienholder Information – found in monthly loan statements, purchase paperwork, or loan coupon book
- Proof of insurance
- Approximate vehicle mileage – rounded to the nearest 100 miles
- Vehicle VIN number – usually found on your insurance card or vehicle purchase paperwork
A refinance can usually be completed in a day or two. The approval process for a refinance can take as little as a few minutes. After your new loan is signed, you have 90 days with no payments before you begin making payments to CUTX with your new, lower monthly payment, but remember interest begins the day your loan is funded.
CUTX requires that you carry proper insurance on your loan. To verify insurance, please click here and provide the declaration page provided by your insurance company that shows Credit Union of Texas listed as lien holder. A copy of your insurance card is not acceptable for this documentation.
If you prefer to send us your proof of insurance by mail or fax, please mail a copy of your declarations page to:
PO Box 690588
San Antonio, TX 78269
This address is for providing proof of insurance only. Please do not send your loan payments to this address.)
You can also contact us with any other questions about providing proof of insurance at these numbers:
866-382-0069 Insurance Service Center
We are now redirecting from the Credit Union of Texas (CUTX) website and to the FairLease website.
We are now redirecting from the Credit Union of Texas (CUTX) website and to the AutoMarket website.
We are now redirecting from the Credit Union of Texas (CUTX) website.
1 - Interest will accrue during the deferment period. Estimated monthly payment example: Loan amount of $20,000 at a rate of 2.39% APR for 36 monthly payments, with no monthly payment for 90 days, would have a monthly payment of $578.60. Loans and Rates are subject to credit approval. Rates and terms are subject to change without notice. Offer excludes existing auto loans already financed at CUTX.
2 - APR = Annual Percentage Rate. Rate shown is the lowest rate available, no additional discounts apply, and is accurate as of January 18, 2019. Loans and Rates are subject to credit approval. Rates and terms are subject to change without notice. Estimated monthly payment example = 36 monthly payments of $28.93 per $1,000 borrowed at 2.39% APR. Offer excludes all loans already financed at CUTX.