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Is 0% Financing Really a Good Deal?

Consider the Facts

Zero percent financing and low dealer promotional rates can seem great if you’re looking to save money when buying a car. But dealer financing offers are often not as they seem. Here are some key points to keep in mind when considering a dealer rate incentive:

  • Low or 0% rates may only be offered to buyers with nearly perfect credit.
  • Terms are often shorter, such as 24 to 36 months, as opposed to the average 60 month loan.
  • Incentives may only apply to slower selling models and not the popular models you may want.
  • There may be hidden application or pre-payment penalty fees.
  • You’ll often save more by taking a cash rebate over zero percent financing.

So, the next time you see a zero percent car financing offer, remember the facts and get pre-approved for a vehicle loan before you shop. You won’t be distracted by deceptive financing offers so that you can focus on what’s important - getting a great deal on your car.

To apply for an auto loan, go to Online Banking, click All Services and select New Loan Application. You can also call us at 800-222-1226 or visit one of our branches.

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