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  • Nicholas Hinrichsen

How to refinance Credit Acceptance loan on a Hyundai Santa Fe?

Updated: Aug 23

When working with our customers, we get a glimpse into their lives and are excited to make a difference where we can. We recently worked with a lady - let's refer to her as Karla - who is 35 years old and lives just outside of Houston.


Table of contents

  1. Credit Acceptance loan on a Hyundai Santa Fe

  2. How we refinanced Karla's Credit Acceptance loan

  3. How to refinance your auto loan and save thousands of dollars

Credit Acceptance loan on a Hyundai Santa Fe


Karla's parents immigrated to the U.S. a long time ago. She has a steady job at Jack in the Box. She doesn't particularly love every day in her role but its a steady job that pays her bills. Karla loves providing good customer service and is good at what she does.

When we talked to Karla, we quickly learned that she has recently bought a Hyundai Santa Fe and financed the SUV with Credit Acceptance Corporation. When we were collecting her details, we got excited about the opportunities to help Karla:


Hyundai is on our list of auto brands likely to qualify for refinancing and Credit Acceptance Corporation is on our list of auto loan companies likely to be refinanced. Her current auto loan has an APR of 15.68%.


Karla has made her payments diligently over the last 18 months. Her credit score is 735 now. We analyzed her bi-weekly paycheck and W2s and concluded that her rate should be closer to 5% now. The difference between her 15.68% rate and 5% would translate into thousands of dollars of savings.


How we refinanced Karla's Credit Acceptance loan


Karla had just bought a new iPhone, we applauded her for her financial progress! Three to four years ago, Karla had a collection on her credit file but these financial challenges are overcome. Today, one of her accounts is overdue by a couple of days but Karla could demonstrate that she had the cash to pay that balance immediately.


With a family of two kids, we understand that life can be hectic at times. That's why we always recommend to our clients to set up auto-pay. When our clients miss payments, we find that they usually just forget or get distracted. We can't emphasize enough: making your payments on time is the best way to improve your credit.


Karla and her husband also have a mortgage. We could see in Karla's eyes how happy she is for her family and the great financial position they are in today: it's the life I've always dreamt of and worked towards:

Karla and her husband have two cars: the Hyundai Santa Fe and a Honda Accord. Both cars are co-owned by Karla and her husband. That way, both of them share the responsibility of making their payments and benefit from it. In fact, Karla and her husband improved their credit from around 590 to 735 over the last 18 to 24 months.


The Honda Accord is financed with Honda at a rate of 15.6%, which translates into $147 monthly. When Karla bought her Hyundai Santa Fe, she traded in a Chrysler 300 which they had bought used and financed with Westlake Financial.


When Karla and her husband still struggled with their credit, the only place they were able to get a loan from was a Tricolor dealership. Back then, they were driving a Nissan Sportage and a Chevy Malibu.


How to refinance your auto loan and save thousands of dollars


Karla told us that she loves to go shopping with the kids. She has a number of credit cards like the ones from Macy, Kohl and an appliance store where she bought a washer a couple of years ago. In order to free up some extra cash and lower Karla's monthly payments, we helped her refinance Credit Acceptance loan.


Do you have an auto loan with Credit Acceptance Corporation and want to lower your monthly payments? WithClutch.com is a fully digital platform that lets car owners like you do so from the comfort of their own home. No need to set a foot in a bank or credit union. You can lower your rate or get cash in as little as 20 seconds.


Follow three simple steps to refinance your auto loan, get approved in seconds and save thousands in minutes.

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