Vehicle Refinancing & Cash Out

Let Us Beat Your Rate By 1% or MorePLUS take a 3-month payment vacation!

Not only is it possible to refinance your car, but you may qualify for a pretty spectacular rate if you currently have your car loan with another lender.

If you have a vehicle loan, and it’s not with TopMark FCU, You’re paying too much!

  • We’ll beat your loan rate with another lender by a full 1%*
  • It costs you nothing to refinance
  • Auto, Motorcycle and RVs
  • Terms up to 84-months on Autos and Motorcycles and 180-months on RVs
  • Make no payments for 3 full months
  • Rates as low as 2.70% APR*

Lower your interest rate and take 3 months off of making your loan payment.
Why wouldn’t you??


Auto Financing with Cash Out

It's normal to have questions regarding auto refinances, especially when it comes to refinancing with cash out. The good news is that auto refinancing with cash out is simpler than you might think. Refinancing with cash out is simply using the equity you have in your vehicle to pay off other debts or get cash for other purposes.

Here's how it works.

Let's say you have a car or truck. It has a NADA retail value of $17,000. You owe $13,000 on it. There is equity of $4,000. Simple enough, right? When you refinance the vehicle, the proceeds are used to pay off the $13,000 loan and the difference can be cash out in your pocket.

Now you have established that there is equity in your car. Depending on whether you meet a few conditions for cash out refinancing such as condition of car, age of vehicle, mileage, and
so on, you can move forward and apply for auto refinancing.

Cash Out Auto Refinancing Process

The process is pretty simple. You can speak with your credit union lending expert or fill out an application. However, there are a couple things you may want to consider.

  • You want to know the value of your car or truck - Do some research. Look at the NADA website at to get an understanding of your vehicle's value.
  • Consider your credit score - As with all kinds of lending, your credit matters in determining whether you can get the financing you want as well as what interest rate you qualify for.

With any financial decision, you'll want to examine why you want to refinance. You should think about what benefits you will reap from the refinancing, how it serves your financial interests, and how it fits into your personal financial picture.


What Are the Benefits from Financing with TopMark?

Up to 100% LOCAL Financing  
Financing Locally Builds YOUR Community

No Pre-payment Penalties  
   Always ask about this feature before you choose another Lender!

Optional Low-Cost Payment Protection Plans 
    We offer Credit Life, Credit Disability, GAP Protection and Mechanical Breakdown Protection 

Winter & Summer Skip-A-Pay Opportunities   
       We offer Skip A Payment twice a year.

Convenient Payment Options
       Terms up to 84-months.  Pay monthly, bi-weekly, by direct deposit, Bill Pay or at one of our offices.

Manage your Auto Loan with our TopMark Online Banking 
        Making payments and reviewing your statement is simple!

You'll always speak with a TopMark employee over the phone or in-person.          
Many lenders do not have local offices.


The not so fine print:

*1% off your current APR (Annual Percentage Rate) for Auto, RV or Motorcycle loans held by a lender outside TopMark FCU.  Terms up to 84-months on Auto and Motorcycle and up to 180-months on qualifying RV loan.
For qualified borrowers, we’ll lower your current rate by up to 1% or offer you our current rate, whichever is lower. Loan applicant must provide proof of current rate. Normal lending criteria apply. Not valid with any other offers. 
Floor rate 1.99% applies.  No payment for up to 90-days for qualified applicants. 

TopMark Federal Credit Union is an Equal Opportunity Lender.

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