When It’s A Better Deal To Take The Rebate.

Take a close look before accepting dealer financing.

Often you have the choice of accepting a dealer rebate or 0% financing. But did you know that you can often save more – and see lower monthly payments – when you take the rebate and choose MCNJTFCU financing?

Understanding the rebate:

A rebate is cash provided to you by the car’s manufacturer with a new car purchase.

According to Bankrate.com, dealers or manufacturers often offer rebates or low-interest financing, but rarely both together. It states that “Combining a rebate with a higher interest bank or credit union car loan may provide a lower initial loan balance and, in many cases, a lower monthly payment. The better choice depends on the price of the vehicle, the amount of the rebate and the interest rate.” (See more at The Car Finance Calculator: Bankrate.com.)

Also, keep in mind that not all qualify for 0% financing.

To receive the 0% offer, you must use the dealer’s preferred credit company (i.e., GMAC), have a strong credit score, and frequently, a cash down payment.

Research first and see us for a pre-approved loan.

Doing your homework before you shop will reduce your anxiety and improve the car buying experience. At MCNJTFCU, we can help you compare your financing options and monthly payments – with and without the rebate. We can also preapprove you for the loan – giving you more bargaining power, and ultimately, a lower price for the car.

Want to learn more?

Click here to review our rates and financing options or call 609-586-6669. We’re prepared to assist and help you get the absolute best deal!

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