July 2019 | Associates Today
Summer Family Picnic Fun!
Let’s gather together for a fun day with fellow Associates as we celebrate our kids and families!
Cincinnati / Ohio Valley / Kentucky: July 13
Dayton: July 20
Youngstown: July 27
Columbus: July 27
Toledo: August 11
Cleveland: August 17
Lorain: September 14
Tips from Anheuser-Busch Employee’s Credit Union: When Refinancing Your Car Loan Might Make Sense
When interest rates have lowered.
Interest rates for any loan can change over time. In the case of most loans, rates are largely influenced by the Federal Reserve. Throughout the year, the Federal Reserve may change the interest rate lower for car loans since when you first purchased your vehicle. Keep an eye out for what car loan interest rates are if you’re considering refinancing.
You have a better credit score.
You’ve been making on time payments, built credit history, and/or used a credit card to improve your creditworthiness—that’s great! There are many ways to improve your credit score, and if you’ve worked hard since applying for your car loan this may be a good time to talk to a financial institution you trust about your refinancing options.
Fun fact: Your credit score can place you within ‘Prime Categories’ that help indicate what your interest rate should be:
Super Prime: 781 – 850
Prime: 661 – 780
Non-prime: 601 – 660
Sub-prime: 501- 600
Not sure what your credit score is?
You can receive one free credit report every year from annualcreditreport.com.
You need smaller monthly payments.
Ever hear the phrase,Life is made of hills and valleys? There are a variety of situations that could happen to change your monthly spending plan: Maybe you lost a source of income, experienced unexpected medical bills, or just need to make more funds available to you. Refinancing can alleviate some financial stress, just keep in mind that you may be extending the loan term.
You’re ready to change car loan providers.
If you originally took out a car loan through the dealership, chances are you may be paying a higher interest rate. Moving your car loan to your financial institution could result in a lower interest rate and an easier way to make payments. Not to brag, but credit unions have doubled in car loans over the past year. *It could be because of our competitive rates, or our excellent member service—we’ll let you be the judge of that.
Anheuser-Busch Employees’ Credit Union wants to help you make your car loan easier to manage, with a team that wants to financially empower you.
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