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E-Financial Compass
1st Quarter 2018
 
nationalgeographicfcu.org
  
Tel 202-775-6135


Need a new ride?
For a limited time, take advantage of our low vehicle loan rates. As low as 2.49% A.P.R.* for new and used cars.
Get Pre-Approved today!
Download the   loan application  and email it to ngfcu@ngs.org

*APR = Annual Percentage Rate. Rates are based on an evaluation of applicant credit. Your actual APR will be disclosed at the time of disbursement. Not all applicants will qualify for the lowest rate. Rate includes direct deposit discount.
For full disclosure, contact us at 202-775-6135Existing loans at NGFCU are not eligible for refinancing.

Put something extra in your celebrations with our Holiday Loan Special!
Extended until January 31, 2018
- 6.99% APR*
- Borrow up to $5,000
- Terms up to 36 months
- Refinance options: Funds can  be used to pay-off loans  from  other financial institutions or credit cards balances.**
Download the loan application and email it to ngfcu@ngs.org

*APR = Annual Percentage Rate. Rates are based on an evaluation of applicant credit. Your actual APR will be disclosed at the time of disbursement. Not all applicants will qualify for the lowest rate. Rate includes direct deposit discount.
For full disclosure, contact us at 202-775-6135. **Existing loans at  NGFCU are not eligible for refinancing.

How to Choose Between 0% Financing and Cash Back
In recent years, manufacturers have been offering a lot of loan incentives such as 0% financing.
Sometimes you have the choice between zero/low APR* financing or a cash back rebate.
So how do you decide between the two?
First of all, in order to qualify for a low APR* offer, you generally have to have great credit. If you don't, then it's an easy choice: take the cash rebate!
If you're one of the lucky ones with solid credit, you can arrange your own financing for between 3% and 6% in today's market.
What you need to do is figure out the difference in interest rates between the low APR* offer and what you can arrange on your own.
If you can arrange financing at 4% interest on your own, then a low APR* offer doesn't really look that great, especially if it's not 0% financing.
To get a very general idea of what a cash rebate is worth in relation to comparable interest rates, here are the calculations on a typical new car costing $25,000 (with state taxes of 5%).
As you can see, a $1,000 cash rebate is equivalent to a 2% difference in interest rates over a 48 month loan and 1.5% over a 60 month loan.
Cash Rebate 48 mo 60 mo
$1,000              2% 1.5%
$1,500              3% 2.2%
$2,000              4% 3.2%
$2,500              5% 4%
$3,000              6% 5%
As an example. If you have the choice between 0% financing over 48 months or $1,000 cash back, which one should you take?
Again it depends on what kind of financing you can arrange on your own. Let's assume you can get a car loan at 4% over 48 months.
Since the difference between the 0% financing and what you can arrange equals 4%, it makes sense to take the financing deal because a $1,000 rebate is only equal to a difference of 2% interest.
It is recommended that you first check your credit score to see what kind of rates you could qualify for.
*Annual Percentage rate

National Geographic Federal Credit Union will resume its regular opening hours on Tuesday January 2nd, 2018.
We will be open Monday to Friday from 09:00 a.m. to 04:00 p.m.


Holiday Office Closings

 

Monday, January 15, 2018 Martin Luther King Jr Day

Monday, February 19, 2018 Presidents' Day

 

Reminder: If you are experiencing issues with your VISA debit card outside of NGFCU business hours, please contact our client services at 1-800-472-3272. You can also visit our website.