All Texas Tech Credit Union branches will be closed on Monday, February 16 in observance of Washington's Birthday.
If you financed your vehicle through a dealership or another bank, there’s a good chance you’re paying more than you should—both on your loan and on extras like warranty plans. Many Texas Tech Credit Union members who refinance their auto loans with us save around $2,400 on average, with some savings reaching as high as $13,000 after we help unwind unnecessary dealer add‑ons.
Dealerships don’t usually sell financing—they sell contracts. Their goal is to get you to agree to a monthly payment, not to understand what you’re actually paying for.
That’s how so many people end up with:
Our consumer lending team sees these issues every single day when members bring in their dealer‑financed contracts.
1. The $13,000 Warranty Case
A West Texas couple recently visited our team after feeling uneasy about their dealership financing. When we reviewed their contract line by line, we uncovered a shocker:
They were told they had to buy a $13,000 warranty package, or the dealership would not approve their loan.
This wasn’t true.
We helped them cancel the overpriced warranty, refinance their loan at a fair rate, and replace the protection with a more affordable option. The result? Thousands saved instantly.
2. Warranty Cancellation: The Surprise Savings Most Drivers Don’t Know They Can Claim
Many members come to us assuming they’re stuck with the expensive warranty the dealership rolled into their loan. One member told us the dealer insisted their warranty “couldn’t be canceled.” But when we reviewed the contract, we found the opposite was true.
So, we stepped in.
Our team contacted the dealer and warranty company directly, submitted the cancellation request, and followed through until the refund was issued. When the dealership stalled, we used Texas consumer statutes that required cancellation upon written request.
That refunded amount went straight back to the member’s loan balance—lowering their payment and freeing them to choose protection that actually fit their needs.
3. The Hidden Add-Ons Most Drivers Don’t Know They Bought
When we review dealer contracts, we regularly uncover:
Most of these were never fully explained—only rolled quietly into the monthly payment. When we uncover these add‑ons, we break everything down in plain language — turning a confusing contract into real savings and giving control of the loan back to the member.
Our loan officers are trained to review every contract line by line with full transparency.
We show members:
If refinancing doesn’t benefit the member, we say so. The member’s best interest always comes first—even if it means not refinancing the loan.
If you’d like to review your options or explore our protection products, our auto loans page is a great place to start:
Our team is here to help you:
If you’re curious whether your current loan could be improved, bring us your contract. We’ll walk through it with you—line by line—and show you exactly where you can save.
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