0% Financing Can Cost You Money!

When vehicle sales drop, manufacturers increase their rebates and incentives. Most of their advertising will showcase 0% financing. Did you know that in many cases you'll give up a large rebate or incentive to get 0% financing and the final cost of your vehicle will be more than if you finance with We Florida Financial? I can write more about this, but I'm going to let the numbers do the talking!

Dealer 0% Loan WeFF 60 mo @ 2.99% WeFF 78 Mo @ 3.49%
MSRP $27,495.00 $27,495.00 $27,495.00
Dealer Gap$900.0000
Dealer Fee$899.00$899.00$899.00
Sales Tax$1,757.64$1,703.64$1,703.64
Tag/Title$400.00$400.00$400.00
Amount to Finance$31,451.64$30,497.64$30,497.64
We Florida Financial GAP$0.00$590.00$590.00
Loan Total$31,451.64$31,087.64$31,087.64
Interest$0.00$2,463.17$3,756.76
Rebate$0.00($4,750.00)($4,750.00)
Total Cost of Vehicle$31,451.64$28,800.81$30,094.40
Savings over 0% loan$2,650.83 $1,357.27

For this example I used a 2020 Chevrolet Equinox LS with the advertised rebate of $4,750. The Manufacturer's Suggested Retail Price (MSRP) is as of April 2020. If you use We Drive, you'll get a better deal than this! The financing is based on the new vehicle rate with a credit score of 730 or above obtained through We Florida Financial's loan origination platform.

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