Is Zero Percent Financing Really Your Best Deal?

June 24th, 2012

Undoubtedly you’ve heard about the “zero percent financing” offers that many auto manufacturers have been promoting lately. Although they seem to be incredible deals and are certainly enticing, you should read the fine print and know the facts before you head to your local dealer.

Beware of Those Teaser Rates

Teaser rates have always been offered to drive more business to the dealerships but, all too often, these offers are not beneficial to the buyer. Knowing what to look for, and what questions to ask the dealer, will help you decide if zero percent is the best deal for you. Here are a few of the facts and restrictions that may apply:

  • Almost perfect credit may be needed to qualify for these offers
  • You may be required to give up a manufacturer’s rebate
  • It could mean shorter terms and larger monthly payments
  • It is 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

 Research Your Options

By using Wayne Westland Federal Credit Union’s low percentage rate you are qualified to use any rebates offered by the manufacturers— which means, this could be your best deal! With the rebate, you are reducing the amount that you are financing even further. Therefore, in combination with the Credit Union’s low rate, your overall costs are lower than if you opted for the special factory financing.

Credit Union Financing at the Dealership!

Members of Wayne Westland Federal Credit Union can take advantage of our low rates and great service right at the dealership! Through our partnership with CUDL (Credit Union Direct Lending) and local auto dealerships, members can now access financing decisions instantly—even when we’re closed. To research pricing information, review auto buying tips, locate a dealer, receive price quotes, or simply configure the vehicle you would like to purchase, simply visit our website by clicking on the following link WWFCU CUDL AutoSMART Website.

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