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The UCU Advantage: Take the rebate over dealer financing

Has the dealer financing specials of 0% loans clinched your decision to buy? On the car you want can you get a rebate instead (usually dealers will
offer low rates or financing -- not both)? In most cases, it might
be better for you to take the rebate and the UCU financing.
Rebates usually help reduce the overall cost of a car (the total
of purchase price plus loan interest) because the loan interest will
be calculated on a lower loan balance. And, if it's close, by taking
the rebate, you reduce the overall loan on the car, making it so you
owe less. If you were to sell the car during the time you were
paying on the loan, that would mean more money comes back to you
because you had a lower loan balance.
The following examples show potential savings by taking a $2,000 rebate and the UCU loan versus no rebate and a special dealer loan. Sample purchase price: $18,000. Make your own calculations for the purchase price you want. Your credit union is ready to help you finance that car purchase ... just look at your options.
Apply for your loan on-line or call during business hours (7a-5p, M-F and 9a- 1:30p, Saturday) at (310) 477-6628, ext. 1!
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UCU Loan @ 5.75% APR 60-mo. term |
Dealer Loan @ 3.9% APR 60-mo. term |
Your Advantage |
| Purchase price |
$18,000 |
$18,000 |
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| Minus Dealer Rebate |
$
2,000 |
$ 0 |
Apply rebate to your purchase price for a lower loan amount! |
| Loan Amount |
$16,000 |
$18,000 |
Lesser loan amount to repay at UCU! |
| Monthly Payment |
$
308 |
$
331 |
Pay $23 less per month at UCU! |
| Total Loan Repayment |
$18,452 |
$19,860 |
Pay $1,408 less cost overall at UCU! |
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UCU Loan @ 5.75% APR 48-mo. term |
Dealer Loan @ 2.9% APR 48-mo. term |
Your Advantage |
| Purchase price |
$18,000 |
$18,000 |
|
| Minus Dealer Rebate |
$ 2,000 |
$
0 |
Apply rebate to your purchase price for a lower loan amount! |
| Loan Amount |
$16,000 |
$18,000 |
Lesser loan amount to repay at UCU! |
| Monthly Payment |
$
374 |
$
398 |
Pay $24 less per month at UCU! |
| Total Loan Repayment |
$17,952 |
$19,104 |
Pay $1,152 less cost overall at UCU! |
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UCU Loan @ 5.75% APR 36-mo. term |
Dealer Loan @ 0.0% APR 36-mo. term |
Your Advantage |
| Purchase price |
$18,000 |
$18,000 |
|
| Minus Dealer Rebate |
$ 2,000 |
$
0 |
Apply rebate to your purchase price for a lower loan amount! |
| Loan Amount |
$16,000 |
$18,000 |
Lesser loan amount to repay at UCU! |
| Monthly Payment |
$ 485 |
$ 500 |
Pay $15 less per month at UCU! |
| Total Loan Repayment |
$17,461 |
$18,000 |
Pay $539 less cost overall at UCU! |
* Annual Percentage Rate.
Disclaimer: All loans are available only to members residing in California. Car purchases, using a UCU loan, must be made in California only. UCU lends on used car model years of 1998 - 2008. Rates are subject to change without notice. Loan issued subject to credit review. Contact UCU for complete details.
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