Compare Your Options
Thinking about buying a new car? Make sure you're familiar with two of the most common ways to get the best deal on your car: 0% financing and manufacturer rebates. Each comes with its own pros and cons.
What are Manufacturer Rebates?
Manufacturer rebates are cash-back incentives to boost sales of certain models. Think of a rebate as a coupon on a new car-it's offered at the time of purchase and most dealers implement the rebate in the form of a discount on the car itself.
What is 0% APR Financing?
This financing is offered with an APR of 0% (or "interest free"), and it's advertised to help drive traffic into the dealership. There's usually a lot of fine print that goes with this offer, meaning those actually eligible for it are very few. Learn more about how 0% APR financing works.
Manufacturer rebates are cash-back incentives that act as a discount on the car.
0% APR financing is interest-free financing available only to very well-qualified borrowers on select models and with shorter terms.
How to Choose the Right Financing Offer
It's important to weigh your needs and circumstances when choosing which incentive is right for you. If you plan to pay the bulk of a car's cost up front, using a rebate can be an excellent deal. If not, 0% APR financing may be an alternative option. The good news? These aren't the only options. Your biggest savings may come from snagging the dealer rebate and getting a great financing deal from your credit union. Finance with someone you already trust, plus be assured the credit union has no stake in your car's price tag.
Real-World Example
Consider the example below comparing a 0% APR and a rebate offer. You will see that taking the rebate and financing with a great, low rate from Texans can deliver substantial savings.
Take a look at the true total costs of both options:
| 2018 Ram 1500 Lone Star 4x2 Pickup | 0% APR with Chrysler Credit? | OR | Rebate & Low Rate at Texans CU? |
|---|---|---|---|
| Sales Price | $39,395 | $39,395 | |
| Rebate | $1,000 | $6,250* | |
| Amount Financed | $38,395 | $33,145 | |
| Interest Rate | 0% | 3.24% | |
| Term | 60 months | 60 months | |
| Monthly Payment | $639.92 | $597.50 | |
| Finance Charge | $0.00 | $2,833.40 | |
| Total Paid for Car | $38,395 | $35,858 | |
| Total Savings of | $2,417 |
*The offer's fine print showed that the offer of 0% up to 72 Mos plus $1,000 Rebate with Chrysler Financing. Even without the extra $1,000 rebate offer, financing with Texans gives you a lower monthly payment and you pay much less overall for the same car! In this example, you'd enjoy savings of over $2,500 during the life of the loan.
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Purchase Rewards
Earn Cash Back Rewards, just for Using Your Texans Debit Card
Purchase Rewards allows you to earn cash back on items you already purchase from stores where you already shop! Here's how it works.
- Receive personalized offers directly in online or mobile banking
- Accept an offer and earn rewards for any qualifying purchases
- Get cash back directly deposited into your checking account the following month
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learn moreMoney Management™
Manage All of Your Personal Finances, Right Inside Online Banking
This personal financial management tool brings together all of your accounts from virtually every company you do business with, in one place to give you a total picture of your finances. Use it to:
- Create a budget that is easy to stick to
- Observe your spending behaviors and trends
- Gain valuable insight into where your money is going
With the ability to connect to over 20,000 institutions, you can connect and review all of your accounts in one place!
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It's Like Having a Full-Service Branch on Your Phone or Tablet!
Manage your accounts, move money around, pay bills, and more:
- Access accounts and view transactions
- Fingerprint login capabilities for iOS and Android users
- Mobile check deposit
- Find your closest branch or surcharge-free ATM
- View balances without logging in via Quick Balance
Plus, when you sign up for online banking, you are eligible for Purchase Rewards, which gives you personalized cash-back offers and deposits the cash-back directly into your checking account each month.
Mobile Deposit
All you need is your mobile phone and the Texans app to deposit checks anytime, anywhere. It's easy, convenient, and secure.
- Snap a picture of both sides of your signed check
- Choose the account for deposit
- Voila! Your check is deposited.
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Protect Your Card Transactions from Fraud
All Texans debit and credit cards are now equipped with a fraud-fighting microchip that encrypts information when making transactions at a chip-enabled terminal.
- Insert your card in the chip reader instead of swiping
- You can still swipe your card when necessary
- You can still use your card online or over the phone
Plus, chip cards are more widely accepted worldwide so your card is easier to use outside of the U.S.
VISA® Cards
Great Rate or Cash Back
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.
1 Rates subject to change and are based on personal credit history. For more information, visit our Rate Advantage VISA Card page.
2 For full cash back details and terms and conditions visit our Cash Rewards VISA Card page.
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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!
Compare Accounts Open an Account* For full details and terms and conditions visit our Mastercard Debit benefits guide.
Courtesy Pay or Overdraft Protection
Protect your debit card transactions, ATM withdrawals, automatic payments and checks or EFTs from a declined transaction.
Overdraft Protection
Your first line of defense uses your accounts to cover overdrafts.
- $5 fee for each transaction
- Uses designated savings account or line-of-credit to pay overdrafts
Courtesy Pay
A one-time opt-in can provide an emergency backup against overdraft.
- $35 fee for each transaction
- May cover transactions that exceed your available balance, up to $750 (including fees)
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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.
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