The UCU Advantage: Take the rebate over dealer financing
Has the dealer’s 0% loan rate financing specials clinched your decision to buy a new car? 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 dealer’s rebate and then opt for UCU low-rate 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. If it’s close, taking the rebate can reduce the overall loan on the car so you owe less.
The following examples show potential savings by taking a $2,000 rebate and UCU’s loan versus no rebate and a special dealer loan. Sample purchase price: $22,000.
Apply for your loan online or call during business hours (7a-5p, M-F and 9a- 1:30p, Saturday) at 310.477.6628 x 1
|UCU Loan @ 1.99% APR
|Dealer Loan @ 0.99% APR
|Minus Dealer Rebate||$ 2,000||$ 0||Apply rebate to your purchase price for a lower loan amount!|
|Loan Amount||$20,000||$22,000||Lesser loan amount to repay at UCU!|
|Monthly Payment||$ 350||$ 376||Pay $26 less per month at UCU!|
|Total Loan Repayment||$21,029||$22,559||Pay $1,530 less cost overall at UCU!|
Annual Percentage Rate. Rates are subject to change without notice. Rates listed are used for example of repayment. Consult UCU for current rate information. Disclaimer: Rates are subject to change without notice. Loan issued subject to credit review. Contact UCU for complete details.