0% financing is something you’ve probably heard or maybe have even done before, however – before you sign on the dotted line, here are some important things to consider.

What is really your best deal? Undoubtedly you’ve heard about 0% financing offers that many auto dealers often promote. Although they seem to be incredible deals, and are certainly tempting – you should read the fine print and know the facts before you head to your local car dealership.

To help you decide if 0% (aka: a low “teaser” rate) is the best deal for you, here are a few facts and restrictions you may encounter:

  • Almost perfect credit may be needed in order to qualify for this offer.
  • You may be required to give up a manufacturer’s rebate.
  • It could mean shorter terms and larger monthly payments.
  • It is usually offered on a limited number of models.
  • You may be limited to dealer stock and not be able to choose the exact vehicle you are interested in.

Research, research, research! By using First Financial’s free financial calculators located under the Resources tab at firstffcu.com, you will be better equipped when you finally make that trip to the dealership. You may find that giving up that 0% financing for a manufacturer’s rebate will actually save you more money.

Lastly, read any contract carefully before signing it. Ask questions about anything you do not understand and don’t feel pressured into making a decision right then and there.

Looking to buy a car? First Financial has great low rates – and they’re the same whether you plan to purchase a new or used vehicle.  Also available:

  • Same day approvals
  • Electronic closings
  • Flexible terms up to 72 months and up to 100% financing of the purchase price
  • Loan Payment Protection
  • CU Auto Club – Roadside Assistance Program

Apply for an auto loan online 24/7 at firstffcu.com, or call 732.312.1500, Option 4 for the Loan Department.

Happy car shopping!

About First Financial Federal Credit Union:

First Financial Federal Credit Union (formerly Mon-Oc Federal Credit Union) is a not-for-profit financial cooperative whose goal is to provide the highest level of quality products and personalized services while maintaining financial integrity and stability.  Our vision is to be a long-term financial partner with our Members. While First Financial has a highly trained, professional staff using the latest technology, we also pride ourselves on our personal touch. Unlike huge banking conglomerates, policy setting and overall strategic direction of First Financial are overseen by a volunteer Board of Directors made up of credit union members. The credit union is federally insured by the NCUA. For more information on First Financial, visit www.firstffcu.com.

*A First Financial membership is required to obtain an auto loan and is available to anyone who lives, works, worships, volunteers, or attends school in Monmouth or Ocean Counties. A $5 deposit in a base savings account is required for credit union membership prior to opening any other account/loan. Research and facts were published in a 2015 article published via CUDL AutoSMART (cudlautosmart.com).