So I check the mail that's been piling up for the last week and I see an offer from Orchard Bank/Household Auto. They want to refinance my auto loan. Hmmmm I'm assuming they pulled a soft inquiry to even know I have an auto loan. Nothing mentioned about terms or rates (just that they would probably be better than my current loan). But here's the thing: the letter starts off talking about Orchard Bank and how they're part of the Household family and I'm getting this "special" ;-) offer because I'm a valued Orchard/Household customer. (I have a HHB Visa) but the letter continues on about Household Auto and how the loan would be from Household etc etc. So who's who? If Household will make the loan offer and service the loan, why even mention Orchard to begin with?
household auto finance is generally pretty subprime, high risk auto loans. Good luck getting a reasonable rate out of them.
hmmm okay I have a Visa from them that's pretty much run of the mill, wasn't sure if their auto financing was any better or worse than the rest
