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with
the major auto manufacturers offering 0% financing
on many of their popular
makes and models, the general auto buying public has been
mesmerized by the seemingly attractive low rates. Consumers are
flocking to dealerships to see how they too can take advantage of
the incredible deals being offered. While 0% financing offers are
enticing, you should read the fine print and know the facts before
you head off to your local dealer. |
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Teaser rates have always been offered to drive more business to
the dealerships, but often, these offers are not beneficial to
everyone. The variations, like pricing, can change from dealership
to dealership, but knowing what to look for and which questions to
ask the dealer will help you decide if 0% is the best deal for
you. Here are a few of the facts and restrictions that often
apply:
- Almost perfect credit
may be needed to qualify for these offers
- You may be required to
give up a manufacturer's rebate
- It usually means shorter
terms and often large monthly payments
- It's usually offered on
a limited number of models
- You may be limited
to dealer stock and not be able to choose the exact vehicle you
are interested in purchasing
Research
Your Options
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As a credit union member you are already
aware of the many benefits your Credit Union offers including
low interest rate auto loans paired with great service
tailored to your needs. By researching your auto financing
options before you visit a dealership, you may find that by
using your Credit Union's low percentage rate you are still
allowed to use any rebates offered by the manufacturers. This
could be your best deal! |
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