So the wife and I parked a deal on a new GMC Terrain. With current incentives, GM will knock an extra 2% off the purchase price if you finance through GM Financial. Their rate is 4.54%, but my credit union is offering 3.29% on new, and 3.59% on a current or previous model year vehicle with less than 7,500 miles. We are putting a good chunk down, almost half, and I’ve run the numbers and at the end of the day we still save more going through GMF.

But, in the interest of maximizing savings, can I turn around and re-finance with my bank at that 3.59% rate? We have very good credit so I’m fairly certain we would qualify for that rate. Anyone ever done anything like this and immediately re-fi?