A few years back, I shared a story about a car that our free car-buying service, Auto Expert, helped me find and purchase. My car goals today are similar to what they were back in 2011. I was looking for a used vehicle that was economical and had a price tag that wouldn’t make me wince every month when the payment was due. Beyond those two items, I didn’t much care what else made up the car.
How much coverage should I have? Fully covered, comprehensive, collision, liability, medical? I have to pay how much for insurance? My credit score is costing me? My premium rose how much because of that little fender bender? What, my auto insurance doesn’t cover this?
Recalculating alternate rate. Possible savings discovered. Reroute now?
When members help each other, they take out a great big expense they'd incur by using a traditional bank. Most financial institutions have to make a profit to send to their owners, so they price everything to make sure they come out ahead. Credit unions like Logix are owned by their members and not-for-profit. In fact, even our Board of Directors are members who volunteer their time to serve! There's not much point in charging extra when the people who would benefit from overcharging are the same people being overcharged. Instead, credit unions price things like rates and fees to ensure the continuing viability of the credit union with the financial health of the membership driving each decision.
Watch out! Objects found in wallet ahead. Refi now as low as 1.74% APR
The result? Our auto loan rates are now as low as 1.74% APR!* It's tough for the competition to match that kind of rate and still make a profit for their owners.
ALERT: Heavy traffic reported leaving your big bank for Logix. Divert now?
We're excited to welcome you to the Logix family! Oh, and. by the way...
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*APR = Annual Percentage Rate. "As low as" auto rates are our best rates for up to 125% financing on approved credit and includes a 1% discount for Automatic Payment (AutoPay). Rates subject to increase if AutoPay is discontinued. Actual interest rate offered may be higher depending on applicant's credit rating and other underwriting factors. In some instances Logix may require borrowers to purchase Guaranteed Auto Protection on new and used auto loans. Maximum 17.99% APR. Monthly payments at 1.74% APR over a 48 month term are estimated at $21.59 per $1,000. Rates accurate as of 7/22/14 and are subject to change.
Has your current vehicle seen better days? If so, you might be wondering whether you should buy or lease your next car. The choice can be complicated so we’ll boil it down for you: