How 0% Auto Financing Could Cost You More.
Before you give up a rebate and take 0% financing on your new car, do your homework--you may actually pay more in the end. First National recommends taking the rebate up front along with one of our low interest car loans. For example, here's how the numbers look for a new vehicle which costs $18,000:
First National |
Dealer |
|
| Vehicle Price | $18,000 | $18,000 |
| Rebate Taken | $3,000 | $0 |
| Amount Financed | $15,000 | $18,000 |
| Interest Rate | 5.99% | 0% |
| Term | 48 months | 48 months |
| Monthly Payment | $352.38 | $375 |
| Total of Payments | $16,914.07 | $18,000 |
| Total Savings | $1085.93 |
This is just one example. We'd love to discuss options and crunch numbers with you when you're purchasing your next new car. With interest rates at a 40-year low, it's a great time to borrow.
Click here for more information on our new car loans.
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