Need a car?
Lowland Credit Union can help!
We have very competive rates
Beware the 0% "catch"
Shopping for a new car? If you've decided to purchase rather than lease there are several options. We're here for you, of course! More and more dealers are offiering 0% financing, low -rate loans or cash-back rebates.
It's nice to have choices, however it can be confusing! Let's look over some facts.
Sometimes the dealers offer low rate loans or 0% financing only on cars that are slow to sell. You can have bigger prepayment penalties or even have to make a HUGE down payment. Often the plan is only good on a certain model, certain color or some other stipulation.
If you are one of the FEW eligible for this low percentage rate (only 10 out of 100 people normally get these rates), you could save money. You just about have to have "excellent" credit rating. Also, these rates are often limited to an extremely short term loan - usally between 12 and 36 months.
If you choose the dealer's rebate plan, you will forego the low-interest rate loan, but get a lower amount to finance - which in turn will make your payment lower. We're sure you must have a lot of questions, so please do not hesitate to call us. We will be glad to answer them for you.
