Drive your way out of debt!
In addition to promotional 4.99% APR* auto rates, FSU Credit Union is offering a special program to consolidate debt with your auto loan. Learn more from our Vice President of Lending and Administration, Grant Abbott:
We have always been told that auto loans were one-size-fits-all. Sure, there may be an option to extend the term a few months on one or get a slightly better rate on another, but the math to determine payment always includes just three variables: amount, term, and rate. Today, even your small-dollar decisions come with more than three options. Think about your streaming services, phone plans, lawn maintenance, and even the repayment plans for that toaster you bought online. Everywhere else, we recognize the uniqueness of individual situations and needs. Why not with auto loans?
Enter your local financial champion!
As a valued member, we want to offer you the same great rates you are used to, but we also want to make sure the loan you are getting meets your needs beyond the monthly payment. Let’s start with the simple:
- Auto loan rates as low as 4.99% APR*. Buying a $40,000 auto and wanting to finance for the standard 60 months? No problem. Want to include gap insurance or mechanical breakdown protection to protect your investment? We have you there too!
- But what about those high-interest-rate credit cards you have been chipping away at for years? Or that personal loan you took out to address needs around the home? What if I told you the same $40,000 auto you are buying could help reduce those balances and get you on the track to being debt-free without stressing your budget? All of this is possible with our debt consolidation auto loan option. Instead of paying the average credit card interest rate of 27.91% APR* for years on end, let us consolidate your unsecured debt with the auto purchase or refinance into one loan with a great rate. One example to consider:
- $40,000 auto purchase for 60 months at 4.99% APR* = $757
- $40,000 auto plus $10,000 debt consolidation for 72 months at 6.99% APR* = $855
- Removes $100+ minimum payment on $5,000 credit card
- Removes $180 payment on $5,000 term loan at 18% APR*
- Total savings of $182 monthly ($757 + $100 + $180 – $757 = $182 savings)
- What if you don’t plan on keeping this vehicle for 72 months or want to have the flexibility of a low monthly payment without a prepayment penalty? Our InGear loan may be just right for you. It is a residual-based balloon loan built on a guaranteed future value. With terms from 24 to 72 months, no prepayment penalties, and average payment savings of more than $100 per month compared to traditional financing, this option may provide the exact flexibility and value assurance you have been missing. Watch our InGear explainer video to learn more.
To get started or find out more information on auto loans or how we can help you pay down your debt, contact us today.
Grant Abbott, Vice President of Lending & Administration