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If you have spotless credit, you may be approved for the 0% APR financing. However, one small credit blemish, and the rate goes up. These offers are usually restricted to short-term loans (24 or 36 months), may require a larger down payment, or may only be offered on slow selling models.
If you choose to go with the dealer's rebate plan, you must forgo the low interest-rate loan and take a $1,500 to $3,000 cash rebate. This choice makes sense if you finance with RFCU. See how this can beat 0% financing in the examples provided.
The Cost You Can't See
Regardless of which financing option you think is right, do your homework on the hidden costs in dealer financing options.
Get the Best Deal
Some common sense is always applicable when looking for a great deal. Always be sure to look at the purchase price, trade-in value and financing options individually. Many manufacturers may throw one lump sum at you to hide the true value or create an opportunity to pad the purchase price or reduce the value of your trade without your knowledge of it.
Not many people enjoy bargaining with a car dealer for a lower price. Be polite, but persistent! Negotiate each cost separately; discuss financing last, and ALWAYS read the fine print.
What RFCU Can Do For You
It's no secret that RFCU offers great rates on auto loans. Usually, your best bet on an auto deal is to select the cash rebate and finance through RFCU. It may save you more money in the long run.
RFCU vs. Dealer
$20,000 Purchase Price $20,000
$6,000 Trade-in $6,000
$2,500 Rebate $0.00
$11,500 Loan Total $14,000
36 Months Term $36 Months
4% *APR 0%
$340 Monthly Payment $389
$12,223 Total Loan Cost $14,000
Financing with RFCU saves you over $1,777!!!!!
The ABCs of Auto Loans
Apply for pre-approval before you shop! You'll know exactly how much you can spend, and you'll be able to negotiate the best price. Visit the Credit Union first, then visit the dealership and shop with confidence.
Buy the auto of your choice. Whether it's new or used, RFCU has the financing you need, at great low rates. With our easy application process. Check out our rates and apply online .
Cruise around in your beautiful new car! Send us a photo to put in our newsletter.
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