During this time, you’ve seen a lot of special vehicle offers, like 0% financing and deferred payments. If the deals sound too good to be true, they may be.
Before you choose one of these deals:
- Check to see if interest continues to accrue even if you don’t have a payment for months.
- Consider how much you still owe if you trade in your vehicle. If you owe more than it’s worth, it can have a negative impact on your credit.
- Know your credit score. The special rates and terms may have very stringent guidelines, so not everyone qualifies.
- Be sure you know the length of the loan.
If you are facing financial difficulties and having trouble making car payments, we’re here to help. Contact us before you make any decisions.
Now may not be the right time for you to look for a new car, but if your vehicle loan isn’t with CEFCU, you could be paying too much. Ask about the benefits of refinancing your vehicle loan, and see how much you could save by switching to CEFCU.