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Auto Loans in Summer

Posted in Articles on Sunday, May 14, 2017

Summer is the perfect time to upgrade your ride.

Summer is around the corner, and that means it's time to start shopping for your new car. Save on interest with a great rate as low as 1.94% APR⨳ and a low monthly payment. Low interest rates meant that we were able to save more than 500 of our members a total of $770,000**.

How much could you save by buying or refinancing with Veridian?

Purchasing with Veridian

Veridian car loan Other car loan
Loan Amount $25,000 $25,000
Rate 1.94% APR 4.16% APR
Term (months) 48 48
Monthly payment $542 $566
Total Interest $1,003 $2,181

By purchasing with Veridian instead of another financial, you could save $24 on your monthly payment, and $1,178 in interest over the life of the loan.


Refinancing with Veridian

Veridian car loan Other car loan
Loan Amount  (after 12 months) $19,133.77 $25,000
Rate 1.94% APR 4.16% APR
Term (months) (remaining) 36 48
Monthly payment $548 $566
Total Interest $578 $1,252

By refinancing your auto loan from another financial with Veridian, your monthly payment could decrease by $18, and you could save $674 in interest over the life of the loan.


Ready to get started?

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**Savings amounts based on comparison of interest rates and terms on loans issued by Veridian Credit Union to rates and terms on loans refinanced from other financial institutions in 2016.

APR = Annual Percentage Rate. Fixed APR for up to 48 months with 10% down. For a $15,000 auto loan with a term of 48 months and 1.94% APR, the monthly payment will be $325. Includes Loyalty Discount of 0.25% APR when enrolled in direct deposit of net income and automatic loan payments from your Veridian account. Borrowers will lose Loyalty Discount if they fail to meet qualifications during loan term. Loyalty Discount not available with Go Green Auto Loan. Rates, terms and conditions subject to change and may vary based on qualifications, including creditworthiness and loan-to-value ratio, as well as age and mileage of the vehicle. All loans subject to approval. Rates subject to change.

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