Just closed on my second car loan with the credit union; 5.9% interest. It?s good to finally see interest rates that low! They have totally won all of my business going forward!

As I am not sure where you are located, the best place to start is your local credit union. You typically have to live, work or worship in the area of the Credit Union.

Good Afternoon SAR1954,

If you don't mind me asking, can you please gave the name of the Credit union? I am looking to refinance as well.

Funny thing, the credit union is working to refinance our second car, we will probably close on Tuesday after the Holiday. My regular bank is now trying to refinance my car, which at first they said "No"; I am not sure I will take their off regardless, the person I am working with at the Credit Union has really worked "For Me", unlike a bank. I just think its odd how now my Bank wants to help.

Credit Unions tend to look at more than just a credit score, they look at reaching out to help their members reach their financial goals, credit unions were formed with the philosophy of taking care of their own, much like a family, banks have bottom lines and dividends to pay owners and CEOs where credit unions give back to their members! I am so glad to hear your credit union was able to BRIDGE your financial gap! Treat them well and they will return the favor!

@Patrick ~

You have been super insightful! I must say joining this forum was a good idea, I have learned some valuable information in such a short time. Thanks to your suggestion (going to a credit union), I was able to get the personal loan I needed, and while I was at it they refinanced one of my cars, taking it down from 17% interest to 5.6%. I also went with a lower term and the monthly payment is lower (they also let me skip a month, they offered to let me skip two but I just took the one month). In another month or two I am going to go back with my husband and refinance our other car. This has saved me TONS of money. I had heard of credit unions being more willing to help vs a big bank but I never really looked into, and after reading your feedback I figured I would give it shot and I am glad I did! Thanks!

Through traditional banking it may be very tough, and if you are approved your interest rate will be much higher, with that score places like SpringLeaf Financial AKA (American General) or One Main Financial AKA (CitiFinancial) may be able to offer you a personal loan, but, be aware, those accounts are listed as consumer finance accounts and can lower your FICO score because of the type of loan it is! Also check with a local credit union, best of luck to you!

Is it possible to get a personal loan with a credit score of 649?