MELBOURNE, Fla.– Space Coast Credit Union (SCCU) has named the winner of its recent Auto Refinance Sweepstakes. Presley D., a resident of Vero Beach, Fla., was randomly selected to win the grand prize, a full year of no car payments. The grand prize will be awarded as a lump sum dollar amount equivalent to 12 months of payments.
SCCU conducted the sweepstakes from Oct. 15, 2019 through Dec. 31, 2019 to generate awareness about how consumers can save monthly on their auto loans by refinancing them for a lower interest rate, longer term, or both. Participants were automatically entered into a random drawing when they refinanced their auto loan during the promotion. There was also a “no purchase necessary” entry option.
Nearly 1,500 people participated in the sweepstakes when they refinanced their auto loan from another lender to SCCU, totaling over $38 million in new loans. Presley was selected as the sweepstakes grand prize winner in a random drawing.
“Through our Auto Refinance Sweepstakes, we were able to educate consumers on the benefits of refinancing their auto loan. For many people the monthly savings from their auto loan makes a difference in their daily VP-consumer sales. “SCCU members are able to put that savings toward other household expenses, family vacations, or savings.”
SCCU said it offers auto refinance rates as low as 1.89% APR out to 78 months.