Let’s break down the savings:
If your current auto loan is $20,000 with an interest rate of 8 percent, then your monthly payments are $405.53 (based on a 60-year loan).
If you refinance that loan at 2.98 percent with One Nevada Credit Union, your monthly payments are reduced to $359.20 (based on a 60-year loan).
That is a savings of $46.33 a month or $555.96 per year. Sounds good, doesn’t it? Plus, here are just a few examples of what you could do with all of that savings …
You could buy*:
166 gallons of gas (based on today’s average price of $3.35 a gallon
4-day cruise to Baja Mexico
387 songs on iTunes
Or, put it into your ONCU Savings Account
To date, we’ve saved Nevadans $2 million on auto loan payments
One member recently refinanced and saved $264 on their monthly payment. Another refinanced and saved $3,269 over the life of the loan.
You can save too! There is no cost to refinance your auto loan, give our specialists a call today at 800.388.3000.
*Calculations based on actual costs at time of blog.