I reached out to this new union member to go over his Vacation Account. We touched base on all the different features and services Qualstar offers to our Union members and, after ordering him a check card, I asked about few things I noticed while reviewing his membership application.
He had a couple of auto loans through different banks and was paying crazy high rates – the first one was his 2014 truck on which he was paying 12% with a payment of $668.00! I asked if he would be interested in refinancing because we could lower his rate to 5.49%, shorten the term to 36 months and STILL drop his payment to $611.00. For the second vehicle, he was paying an even higher rate with a monthly payment of $602.00. Once again, I asked if he would be interested in bringing that loan to Qualstar as well, because we could offer 6.24% and the payment would drop to $479.00. He for sure wanted to move both auto loans to us.
After getting his applications approved, I also offered him a $1,000.00 credit card because he only had the two auto loans and having an available line of credit could help with his credit history. He thought that was a good idea as well, so now he has our Visa Gold and is on the way to a stronger credit score.
After all was said and done, we saved him $10,885.68 in interest from the original terms of the two auto loans, saved him money on his monthly payments by $180.20 and gave him FREE GAP coverage on both vehicles as well!1 He was extremely happy he was introduced to Qualstar through his union.
1 A $345 value – free GAP offer applies to refinanced auto loans only; certain qualifications apply – ask your loan representative for details.