Is 0% Dealer Financing Right for You?

Everybody has seen the ads from car dealers offering 0% financing or 0% down when you purchase a new car. The ads sound almost too good to be true! In many cases, they are.
Consider these facts:

• The offers are usually only available to those with the very best credit history. Even the slightest credit blemish and your interest rate increases.
• The offers are often based on a short term such as 36 months or less, which results in a higher monthly payment.
• The offers may apply only to “selected” models, leaving you with few options from which to choose.
• Qualifying for 0% financing often depends on your ability to pay full sticker price for the vehicle – resulting in higher monthly payments and higher taxes.
• Generally, you must forfeit the factory rebate on your new vehicle in lieu of the 0% financing deal.

Don’t be tempted by the low dealer rate. The loan specialists at Chaffey FCU can help you understand the offers and get you the loan that best fits your needs.

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