People Helping People
Marlon and Jackie had been married for five years, and recently bought a brand-new 2021 Toyota RAV4. They were excited about the purchase, but after a few months of making payments, they realized they were paying too much interest.
They started to do some research and found out that they could refinance their car loan with Texas Trust Credit Union and get a lower interest rate, which would save them thousands of dollars. They had a credit score of 743, so they were confident that they could qualify for a lower interest rate. They decided to visit the Pantego branch located on Bowen & Pioneer Pkwy to explore their options. Texas Trust offered them a new rate of 7.54%, which was almost half of their current rate! They were able to refinance the remaining balance of their loan for 6 years, which would reduce their monthly payments to $488. Their application was submitted and approved after a few days. They were able to reduce their monthly payments by $132. They decided to take that extra money and put it towards an emergency fund for their financial future.
With this lower rate, they are now saving over $3,000 in interest over the life of their loan. Marlon and Jackie were very content with their decision to refinance. They decided to become loyal members at Texas Trust and look forward to the many adventures they will have in their new RAV4.