BUYING A CAR
6 Year Car Loans
Today’s vehicles are built to last a long time, and many manufacturers offer extended warranties that provide an added incentive to keep your vehicle for years. Consider this: maintaining your vehicle with an eye on long-term ownership, encourages healthy environmental practices such as regular maintenance and mileage conservation. Choosing a term up to seven years can allow you to buy a more expensive vehicle for the same monthly cost as a lower-priced one. You can use the extra purchasing power to select a model or features that meet your needs for added cargo room, safety or new technology features like hybrid power.
If you aren’t sure which loan amortization period and repayment term is best for you, we’d be happy to help you decide. It’s always best to find a comfortable balance between what you can afford and how quickly you want to own your vehicle. In some cases, restrictions apply based on the age of the vehicle you are considering. The only requirement is that you pay the interest owing each month. You can pay more at any time without penalty.
Saves You Money
-Pay off all or part of the loan at any time without penalty.
-Cut interest costs by making more frequent payments.
-You may not need a downpayment to purchase your vehicle.
-With up to 8 years (96 months) to pay off your loan, you can keep the payments low.
-Choose either a Fixed or Variable interest rate.
-Choose weekly, bi-weekly, semi-monthly or monthly payments to coincide with your pay period.
-Fully automated process speeds approvals.
-Electronic Funds Transfer (EFT) can automatically make scheduled payments from your account at no charge.
-You can also make payments in person at any financial institution.