Rate Genius to MCCU (2nd Car Refinance)

2nd refinancing - I applied on Rate Genius December 20, 2016. Got the email saying I was approved and will be contacted by my loan officer the next day December 21, 2016. I received a call after I got that email about 3 hours later then received the 3 options I can choose from:
Option 1
Interest Rate:2.49%
Term:60 Months
Down Payment:$0.00
Days to First Pmt:30
Monthly Payment:$215.66
Est Monthly Savings:$90.34

Option 2
Interest Rate:2.49%
Term:48 Months
Down Payment:$0.00
Days to First Pmt:30
Monthly Payment:$266.31
Est Monthly Savings:$39.69

Option 3
Interest Rate:2.49%
Term:36 Months
Down Payment:$0.00
Days to First Pmt:30
Monthly Payment:$350.76
Est Monthly Savings:$-44.76
Of course I had to calculate how much I will "save". I did NOT. My loan officer, Rick told me I might receive a GAP refund from the original lender which is now in process. But before I contacted them here's what he told me to do:
"I'm assuming the refund you're talking about is the GAP refund.
That has nothing to do with us.
You'll have to get the payoff letter from Excel and then call the dealer."
I just hope that's about $700. Because refinancing this through Rate Genius made me pay $655 MORE that my then current term with Xcel.

I chose number 3 even if it's more than my normal monthly payment. After I submitted required documents,
We are working on your vehicle refinance but need some additional documents to process your loan. Please see the list below and upload your documents today.
  • Driver's License(s)
  • Back of Driver's License
  • Proof of Insurance
  • Voided Check
  • Proof of Income
  • 2015 W-2
that day the loan package was sent to me to sign. I received it the next day and send it back asap for them to look and complete. It was really quick but at the same time, holiday season is our concern for deliveries, offices and such openings that are limited. They received the package December 23. After a few days, I was worried because I have no idea if everything is going smoothly. I emailed December 28 and told my loan was sent for funding, meaning all is good. December 30, I received an email saying loan has been successfully funded. Perfect timing since I was told that they only a have a TEN DAY lock for the quoted rate.

Original loan with Hyundai/Kia Motors Finance in Covington Pike, Tennessee; monthly payment was $387. This loan has me and my mom as the borrowers.
After a year I refinanced and got Xcel at a rate of $307. This loan only has my mom's name.
Now that my parents are planning to buy a house, their credit history needs to be clean. No big debt whatsoever. And for that reason, I decided to refinance my car to my name only. My mom also refinanced my dad's car because they both have their names on his.

Rate genius - Pulled Experian and Equifax as an inquiry. They gave my information to THREE lenders.
Matadors Community Credit Union - Reporting to ALL three credit bureaus. Hundai/Kia Motors Finance did the same thing which was the original lender when I bought the car.
Xcel Federal Credit Union - Only reported to Experian. So from March 2014 to December 2016, Transunion keeps telling me I don't have mix credit like non mortgage loan.


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