By: Dennis James, Senior Vice President of Consumer Lending, VyStar Credit Union
Fall is in full swing, and so is this year’s best season for purchasing or refinancing an auto. If you’ve been considering upgrading your ride or lowering your payments on your current vehicle, now is the time.
In the market for that dream car? Interest rates are dropping for the first time since 2008, allowing qualified borrowers to potentially save money when purchasing an auto.* Plus, at this time of year, dealerships are receiving the new 2020 model vehicles, but most likely still have 2019 models in stock.
Many dealers will reduce pricing on their 2019 model inventory to make room for the new models. If you’ve recently purchased a vehicle through another lender, refinancing to lower your interest rate could lower your monthly payments and/or lower the length of your loan, saving you money in the long run. Applying for an auto refinance loan at VyStar Credit Union is simple and convenient! You can apply through online banking, by phone or by visiting your nearest branch.
VyStar members can take advantage of a wide variety of flexible loan terms and promotions, such as our “No Payment for 90 Days” offer.** We offer lower rates than most financial institutions, with no hidden fees or prepayment penalties. This can help put some extra cash in your pocket, which will come in especially handy during the upcoming holidays. VyStar also makes it convenient for our members to make payments through Internet & Mobile Banking or at your local branch. To learn more about our auto loan options and to obtain a list of our dealer partnerships, we welcome you to visit our Auto & Recreational Loans page.
*All loans subject to credit approval. All credit union programs, services, rates, terms and conditions are subject to change at any time without notice.
**First payment will be due 90 days from closing of the loan. Finance charges begin accruing as of the loan disbursement date. Offer not available on existing VyStar auto loans. All loans and accounts are subject to approval. Programs, rates, terms and conditions are subject to change at any time without notice. ©2019 VyStar Credit Union.