Truth Behind 0% Financing
The Truth Behind Zero Percent Financing
A zero–percent auto loan sounds like a great way to finance a car, right? Wrong!
An auto loan with zero–percent interest doesn't automatically mean it's a great deal, or that it's the right one for you. It can be a dream come true for people with near perfect credit. But for many shoppers, zero–percent financing is simply not feasible.
What are the Drawbacks?
- Shorter loan terms – 36 month terms are typical for these types of offers, which means higher monthly payments.
- Fewer models to choose from – You may be limited to what's in stock, and therefore, not able to buy the vehicle you really want.
- No rebate – You may be asked to choose either zero–percent financing or a cash rebate. Can you do better than zero–percent financing? Sure, especially if you accept the dealer rebate and refinance with the credit union. Call today for details on how you can beat zero percent financing.