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:
| 2019 Ram 1500 Lonestar Edition | 0% APR with Chrysler Credit? | OR | Rebate & Low Rate at Texans CU? |
|---|---|---|---|
| Sales Price | $43,530 | $39,395 | |
| Rebate | $3,000 | $8,031* | |
| Amount Financed | $40,530 | $35,499 | |
| Interest Rate | 0% | 2.99% | |
| Term | 60 months | 60 months | |
| Monthly Payment | $675.50 | $636.13 | |
| Finance Charge | $0 | $2,668.80 | |
| Total Paid for Car | $40,530 | $38,168 | |
| Total Savings of | $2,362 |
*The offer's fine print showed an offer of 0% up to 72 Mos plus $3,000 Rebate if financed with Chrysler Financing or a Rebate of $8,031. Even without the extra $3,000 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 $2,300 during the life of the loan.
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Purchase Rewards allows you to earn cash back on items you already purchase from stores where you already shop! Here's how it works.
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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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Manage your accounts, move money around, pay bills, and more:
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All you need is your mobile phone and the Texans app to deposit checks anytime, anywhere. It's easy, convenient, and secure.
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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
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- 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*
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Compare Accounts Open an Account* For full details and terms and conditions visit our Mastercard Debit benefits guide.
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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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Make the Switch to Mobile and Online Statements
Making the switch to eStatements is secure and easy. Here's how it works.
- View and print statements right from your online or mobile banking
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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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