About Auto Loans - Milwaukee, WI - By Heritage Credit Union
“Hey, Milwaukee! Be prepared next time you need to refinance a car loan.”
— Carly
From rates and loan calculators to articles, check out everything you need to know about refinancing your car loan.
Use Our Refinance Calculator
Calculate the money you'll save each month with a refinance.
5 Tips To Improve Your Credit Score
Staying on top of your bills and debt can save you money by avoiding higher loan rates.
Refinance your car loan in 3 simple steps
Applying for an auto loan refinance can be done completely online in 3 easy steps.
Step 1) Get organized
- Use calculator to find an ideal payment
- Have your Make, Model, VIN, and mileage ready for the application
Step 2) Apply online 24/7
- An eLoan Officer will get in touch shortly. Once approved, you will need to get a 10-day payoff information from your current lender. Please request the info be faxed or emailed to your eLoan Officer
Step 3) Sign documents from anywhere
- Use your phone or computer to sign documents and we will take care of the rest!
When To Refinance Your Auto Loan
Read Article
How Are Car Loan Payments Calculated?
Read Article
What Is a Good Credit Score?
Read ArticleUsed Auto Loan Rates
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10/21/2021
6 Essential Car Loan Terms You Should Know
1) Interest Rate: An auto loan's interest rate is the amount of money paid each year to borrow from a lender shown as a percentage. Additional fees are not included in the interest rate.
2) APR (Annual Percentage Rate): APR is the amount of money paid each year to borrow from a lender, including fees, shown as a percentage. The APR of a loan is best described as the "all-in" yearly cost you will pay.
3) Principal: the principal of a loan is the amount of money you initially agree to pay back, without the added interest.
4) Loan Term: A loan's term is a broad description that includes various details of the loan. The term typically includes the loan's repayment period, rates, and fees. For example, a new car loan's term may include a 60 month repayment period at an interest rate of 4.00%.
5) Amortization: Amortizing a loan is a technique used to spread out payments over a certain period of time (usually the loan term's repayment period). This is a great way to plan monthly payments and repay your loan in full before its maturity date.
6) Maturity Date: The maturity date of a loan is the date when the principal amount of a loan becomes due. For example, if you took out a $20,000 car loan with a 72-month term, your maturity date would be reached at the end of the 72 month period.