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responding. If you receive uninitiated text messages from UFirst, please call 801-481-8800 to
*Promotion is for student new members only. Students are defined as anyone ages 14-18 or
anyone enrolled in high school or an accredited college or university. Must qualify for membership and
have valid SSN/ITIN to join. A minimum balance of $10 in primary savings must be maintained. Upon
opening, $50 will be deposited into the account of the qualifying member. The second $50 will be
deposited after 6 months if the account is in good standing. Cash award is treated as interest and
will be reported to the IRS Form 1099-INT. The Annual Percentage Yield (APY) is based on tier
balances. Balances between $0-$999 earn 0.05% APY and balances between $1000+ earn 0.10% APY. APY is
current as of 3/8/2023. For more information call 801-481-8800 or visit a branch. You must mention
this promotion at account opening to be enrolled in the promotion. This offer is ongoing but subject
to change without prior notice and other restrictions may apply. Federally Insured by NCUA.
The credit score required to qualify for an auto loan is relative to the lender. On average, the borrower needs a score in the low 700s for a new car loan and mid-600s for a used car loan.
A borrower's credit history tells the lender whether or not they are high or low risk. When getting approved for an auto loan, most financial institutions will look at the borrower’s industry-specific auto FICO® Score3, along with their base FICO® Score from the three consumer credit reporting bureaus: Equifax, Experian and TransUnion.
This credit score also determines the borrower’s interest rate on the loan. Typically, to get an interest rate between 0–2% on new car loans, the lender will require a credit score of 700 or higher. Reversely, if a borrower finds themselves with a credit score in the mid-600s or low 500s to low 600s, they may expect a lender to give an interest rate three to five times higher (between 10–24%) than those with good or excellent credit.
You can check your FICO® Score for free on our free mobile app, UFirst.
Refinancing your auto loan is a great and easy way to save money on your car payments and to lower the interest rate on your auto loan.
In order to refinance your auto loan, you’ll need to gather the right information and documents. All the necessary information would be the car mileage, VIN number, current car loan numbers, driver’s license, and income verification. After gathering this information, you can refinance your loan with the same lender or with a different financial institution.
After applying, the bank or credit union will check your credit history and let you know if you qualify for a lower interest rate. After approval, the bank or credit union will work with you to set your new loan term to a lower monthly car payment.