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Get some equity out of your car by refinancing

Posted at 4:20 PM, Sep 28, 2021

Many of us are constantly looking for ways to stay financially sound, but did you know refinancing your home or even your car is a great way to put some cash back in your pocket? Tropical Financial Credit Union can get you started on the process.

Amy McGraw, Vice President of TFCU, says if you've bought a car in the last couple of years, especially if you financed it at the dealership, you're wasting money. Used cars have a lot more value right now than they usually do, so refinancing can get you more money than usual.

She suggests talking to a loan officer first rather than pulling your credit and finding out you won't be saving that much money. If your credit has gotten better since you bought the car, you might be able to lower your payments and extend the loan.

You can refinance your car from another institution to TFCU and get up to $150 back depending on how much the loan is. Head over to https://www.tropicalfcu.com/ to see your options!

Inside South Florida

10:49 AM, Jul 26, 2019

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