We hope this guide serves you well on your journey to purchase a vehicle or refinance a car loan. Together, let’s bring your financial goals to life.
We share a common thread
Empowering our communities with financial know-how
Our common thread is caring for the communities we serve, and empowering the people who call these communities home. We hope you are able to use these resources to make smart decisions about your next vehicle purchase.
FEATURED GUIDE
Car Shopping Online vs. At the Dealership
Online car sales have skyrocketed over recent years, and websites like Carvana, Car Gurus, and other notable platforms dominate the space. Buyers are being driven to these platforms because they may be intimidated by the experience in dealerships and may prefer the convenience of shopping online. In this article, we will break down the key advantages and disadvantages of both car shopping online and at the dealership.
The process can seem confusing, but we’re here to make it straightforward. Learn More >
GUIDE: APR VS. Interest Rate
APR vs. Interest Rate: What’s the Difference?
When shopping for a car loan, many shoppers will come across two terms, interest rate and annual percentage rate (APR). It’s easy to confuse the two and use them interchangeably because your interest rate and your APR serve a similar function. However, there are a few differences that you need to know.
Interest Rate
The interest rate of an auto loan determines the yearly interest expense of borrowing money, excluding any extra fees.
Annual Percentage Rate
The APR of an auto loan reflects the total cost over the life of the loan. This includes additional fees that accompany the loan.
