Polk County Schools Employees Credit Union

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LOAN INFORMATION

Year Term APR
New - 08 60 Months 4.49%
2007 - 2004 48 Months 5.49%
2003 - Older 24 Months 6.49%

The above rates are good on purchases and refinancing your auto loan

from other financial institutions.

Home Equity Term APR
Closed End 120 Months 5.99%
Line of Credit Variable Rate 5.00%

Status Term APR
New 60 Months 5.99%
Used 60 Months 6.99%


CHOOSING BETWEEN 0% INTEREST RATE AND A REBATE WHEN FINANCING YOUR CAR

Here is an example of why we say you should check with us before committing to new car financing with the dealer even if the rate looks a lot lower.  If the price is $18,000 or lower and the rebate is $2000, or if the price is higher and the rebate is higher, you are better off to finance your purchase at the credit union.

CASE:  New car purchase of $15,000 with an option of either 0% APR dealer financing or a $2,000 rebate.

OPTION 1:  You select the 0% APR for 60 months.  The monthly payment is $250.00.

OPTION 2:  You select the $2000 rebate and finance with the credit union at our current new car rate of 4.49% APR.  A loan of $13,000 for 60 months has a monthly payment of $243.00.

SAVINGS:  Theirs of $250.00 minus ours of $243.00 equals a monthly savings of $7.00 times 60 months equals $420.00.  PLUS, you save another $100 on Iowa Sales Tax!!!

 

WITH SAVINGS LIKE THIS YOU SHOULD BE LAUGHING ALL THE WAY TO THE CREDIT UNION!!!

 

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