Refinance is in the works
My old finance institution should receive the check soon. The new finance institution (Peoplefirst) cut a blank check, which I wrote for the payoff amount to the old bank. We mailed that 2 days ago (priority mail) and the old institution said it would take between 1 and 2 weeks to get the title back to me. Then, of course, it goes to Peoplefirst as the lienholder.
My loan is a simple interest loan for 60 months at 6.75% -- but hey, if we get several people, it's possible that could be a lower rate. There is no penalty for early payoff. They use automatic funds deducted from an account you specify. (So all you international bankers can use your Swedish Bank Accounts

)
I have used smaller credit unions in the past. However, the drawbacks were that they required membership (usually with small fees) and as I moved around I couldn't establish a history with the group. So I decided for my family that banks were better than unions at this time.