With enticing dealer and automaker incentives and rebates,
ever expanding financing terms, and special 0% financing programs, it seems car
buying is more affordable than ever. But are the deals as good as they sound?
Before
you sign on any dotted line, consider factors beyond the interest rate – such
as the total amount financed, the potential rebate, and the monthly payment.
You may discover that special dealer financing isn’t a good deal at all. By taking
special 0% financing, are you forfeiting the manufacturer’s rebate? Is their offer
only for select vehicles or slow-selling models to help move them off of their
lot? These programs may be limited to certain cars or have certain
requirements, like a larger down payment or shorter contract length (36 or 48
months). They also might require the buyer to have an exceptional credit rating
which many buyers won’t meet.
Let
the credit union help you get a better deal.
As a not-for-profit, the credit
union offers some of the most competitive new and used auto loan rates
available. And we offer new-car rates on pre-owned and refinanced vehicles with
less than 30,000 miles and less than 2 years old.
Did you know the credit union can beat outside loan offers? If you qualify for a lower loan rate with another
lender, contact the credit union. We will beat other lenders’ rates by a quarter percent+ if the terms and
collateral requirements are comparable (excluding automobile manufacturer and
captive finance company 0% rate offers.) Learn more.
Take
the stress out of financial negotiations.
Getting
pre-approved for a low rate gives you the bargaining power when you are ready
to make a purchase. Instead of worrying about your loan rate, you can spend
more time negotiating a better price on the car you want.
Remember,
you’re the one making the purchase. You don’t have to be pressured into
spending too much money on your next purchase. And you can always contact the
credit union to help determine used car values before you sign on the dotted
line. Ultimately, we want to help you to feel confident that you are getting the best
deal when buying your new or used car.
+Excluding auto manufacturer and captive finance company 0% rate offers; rate floor is 1.74%, offer excludes current loans held by Greenville
Federal Credit Union.
