Numbers drive credit union auto sale Bakersfield Californian
Local credit union members be advised: It might be a good idea to bring along a calculator -- better yet, a computer -- to the car sale taking place in Bakersfield over the next couple of weeks.
Help with math never hurts when it comes to deciding among financing options and rebates. But it's especially valuable in this environment of fiercely competitive deals, where cash-strapped credit unions must go toe-to-toe with automobile manufacturers hungry for customers.
After choosing a make and model, if it comes to that, the next decision buyers may have to make is whether to go with manufacturer financing as low as zero percent (for people with strong credit), or take a rebate that can be coupled with a credit union loan no lower than 2.95 percent interest.
A lot could be riding on the choice, and not just customer savings.
Credit unions already hammered by loan defaults and the tough economy depend on auto loans for much of their income. And unlike manufacturers that can earn profits in other ways, credit unions cannot make money offering loans at zero percent interest.
