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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 $27,495.00Dealer Gap...

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What About Depreciation?

As most people know, new autos depreciate the moment you drive them off the dealer's lot. But did you know that not every vehicle depreciates at the same rate? Well, get comfortable because I have a story to tell…the depreciation story. Buyers of new cars and trucks are the people most effected by depreciation. The average vehicle loses 20% of its value after one year. Bad news for the new auto buyer, good news for the used auto buyer. However many people are not concerned with depreciation beca...

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Red Flag: My Dealer Won’t Accept My Credit Union Draft

Over the years I've had members attempt to purchase vehicles at dealers that would not accept the draft they received from their credit union. If this happens to you, remember that something may not be quite right about the dealership or the vehicle you want to buy. Sometimes dealers won't accept a draft because of the conditions that come with the draft. These conditions protect you, the credit union member. For example, We Florida Financial's drafts are not allowed to be used to purchase vehic...

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Credit Union Auto Loans Are A Better Deal

Did you ever wonder why car dealers want to have you finance at their dealership? It's customary in the industry for lenders to pay dealers a fee for these loans, and in some cases dealers are allowed to mark up the rate (APR) and keep the difference. It's perfectly legal but I bet you didn't know about it. When you come directly to your credit union, you get a great rate and we have rate discounts for many members. We offer rate discounts for members in our Premium and Select relationship level...

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Don’t Roll Over

Especially when it comes to financing your next car, truck or SUV. The roll over I'm talking about happens when your trade-in is not worth as much money as you owe on your loan. Here's why what seems like a quick solution may be the start of your financial downfall. In my years working for and with credit unions, I've seen this situation many times. You're looking for a new vehicle and you choose a sweet ride. The dealership checks out your trade-in and then advises you that your trade-in is wor...

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Shopping for a Vehicle

So many people think you need months to shop for a vehicle when in reality it only takes one day to buy a vehicle. Plus when you go to a dealer and say you're not looking to buy for a month, they are not going to give you their best deal because they look at you as a shopper. Who wants to give out their best deal just to have you find a similar deal next door? When buying a vehicle, it is a "today" business. So do all your research prior to going to the dealership. Figure out what you need the v...

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