Car buyers save with credit union car loans

“Community banks fear them. Big banks think they can crush them. But over the years, the credit union has proved resilient. And unknown to most people, credit unions thrive by writing car loans.”

by: Christina Pontisso

Jordan Wathen, from The Motley Fool, explains why and how credit unions can offer lower rates compared to banks on auto loans.

Wathen recommends that credit unions are a consumers best bet for choosing an auto loan in 2015. Thanks to the credit union non-for-profit structure, CUs are able to offer better interest rates on savings and loan products to their members.  Most of the time credit unions offer their rates 1%-2% lower than banks!

The difference are significant, see for yourself in the graphs below:

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