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What to look for: PenFed Credit Union offers auto loan terms from 36 to 84 months on new vehicles with APRs from 5.44% to 6.79% (4.74% to 6.79% through their new car buying service). Who can join ...
GOBankingRates recognized Boeing Employees Credit Union (BECU) as one of the best credit unions for car loans. In addition to low rates for auto loans, the credit union offers free checking with ...
For first-time car buyers, one of the most daunting parts of negotiating a good deal right now is interest rates.The average auto loan rate for someone with excellent credit is 5.25%, according to ...
According to The Wall Street Journal, credit unions are particularly competitive on auto loans, with the average credit-union rates on eight types of auto loans beating the comparable bank figures by an average of two percentage points. [8] NASA Federal currently has a similar promotion that competes to lower an applicant's monthly payment. [15]
Shopping around is the best way to compare your options. Here’s what to know.
Legally, an indirect “loan” is not technically a loan; when a car buyer obtains financing facilitated by a dealership, the buyer and dealer sign a Retail Installment Sales Contract rather than a loan agreement. The dealer then typically sells or assigns that contract to a bank, credit union, or other financial institution.
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