Since the 0% auto financing "flashy ads" began, many members are fooled into thinking that is a better deal than coming to the Wayne Teacher's Federal Credit Union for their car loans.
Call us first when that "old clunker" need to be replaced! We can help you SAVE $$$!
The chart below shows that you actually SAVE BIG BUCKS when you finance with us, instead of taking the dealer rebate.
| CAR COST
$20,000 |
Dealer Financing (boo-hiss!!) |
WTFCU Financing (Yeah!!) |
| Interest Rate on Loan | 0% | 5.9% |
| Cost of New Car | $20,000 | $20,000 |
| Less Trade-In | ($4,000) | ($4,000) |
| **Less Rebate (instead of 0%) | $0.00 | ($2,000) |
| Net Amount to Finance | $16,000 | $14,000 |
| Monthly Payment | $444.44 | $425.52 |
| Interest Amount for 36 Months | $ 0.00 | $1312.15 |
| Total Financing Cost | $16,000 | $15,312.15 |
| SAVINGS from WTFCU | $687.85 |