Many manufacturers offer 0% APR financing and cash rebates to drive traffic into their dealerships. 0% APR sounds pretty good, right? Not necessarily...
Only available to very well-qualified buyers with near perfect credit, so many applicants are ineligible for this rate
Much shorter terms (24-36 months vs. the average 60 months), meaning a larger monthly payment
May apply to slower selling models only, giving you less selection to choose from
Cash rebates normally do not apply with 0% APR financing, forcing you to choose between the two offers
Is 0% Financing Right for You?
When the dealer offers a rebate as an alternative, you can often save more than if you chose 0% APR financing. Simply do the math to see your savings. When you apply the rebate as your down payment on the vehicle and include your low rate with Texans, you often come out ahead. Consider an example:
financing rates table
2019 Ram 1500 Lonestar Edition
0% APR Chrysler Credit
Rebate & Low APR with Texans CU
Total Paid for Car
In this example, you're saving $2,362 over the life of the loan and saving over $39 each month on your car payment - an annual savings of $472.44!
The next time you see 0% APR financing, be sure to read the fine print and ensure you're getting the best deal by doing your homework, which includes getting pre-approved with Texans - you may be surprised to see how much you could save if you take the rebate and finance with your credit union instead!
Regardless of which card you choose, there are no annual fees with a Texans VISA card. Plus, you can transfer balances from your other high-rate cards without paying a balance transfer fee and take cash advances with no additional fees.
But that's not all. Your Texans VISA comes with online access where you can utilize our personal financial management tool, Money Management™, to create a budget and gain valuable insight into where your money is going.
Use your Texans Mastercard Debit Card at more than 70,000 surcharge-free ATMs worldwide through the Allpoint and CO-OP ATM networks, and anywhere Mastercard is accepted. Plus, your Texans Mastercard Debit Card will:
Double your manufacturer's warranty on purchases up to 12 Months*
Price protect purchases up to $250*
Provide a 60-day satisfaction guarantee on purchases for full refund of the purchase price*
Include Mastercard Global Service for emergency, one-day, temporary card replacement in the US*
Get a Texans Debit Card with your checking account today!
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Guaranteed Asset Protection (GAP)
Texans GAP coverage could save you thousands. If your vehicle is totaled or stolen, your insurance may not pay to cover its full value. That’s where we come in. Our GAP coverage offers low-cost protection if you have a high-cost loss by covering additional funds needed to pay off the vehicle loan. And it’s available on most new and used auto, motorcycle and RV loans1.
Major Mechanical Protection
Car repairs today can set you back thousands of dollars. Fortunately, Texans offers its members Major Mechanical Protection (MMP) coverage. This protects you from the unexpected expense of vehicle repairs. There’s absolutely no deductible for repairs and you don’t have to wait for reimbursement — all repair costs are covered up front. Available on most new and used auto loans2.