Is A Dealer's 0% Financing Right For You?
Look over the facts and decide for yourself.
Once on the lot, many buyers will discover they don't qualify for the rate.
Usually, perfect credit is the biggest requirement for approval on 0% loans.
A 0% rate is usally only available for short term 12-24 month loans.
Such a short repayment period may place your monthly payment well out of reach.
The 0% rate is usally offered as an alternative to the rebate.
Frequently, taking the rebate and lowering the principal amount you borrow
has a greater impact on reducing your loan payment than the loan rate does.
Bigger down payments are usually a requirement and
prepayment penalties are common.
Prepayment penalties only add to the total amount you will pay for your vehicle
negating any savings an actual 0% rate would give you.
A 0% rate is often given to slower selling vehicles,
which tend to have lower resale values.
On these vehicles, dealers may not negotiate a sale price and you may
have to purchase unwanted options that may add to the overall expense.
With your financing from Streator Community Credit Union, you'll be in the best position to negotiate your best deal!