Boulder Nissan-logo
Terms & conditions
Privacy policy
Blog Cover Image

Don't let car loan interest rates stop your shopping. There are still many ways to save money.

Published on Dec 26, 2022 by Boulder Finance Team

 

The automotive industry is a major contributor to the world economy, and many banks and credit unions today are still offering good interest rates on new and used vehicles. This is an important development, as it provides consumers with the opportunity to purchase a vehicle at affordable terms and at a good price.

 

When looking for a vehicle, consumers are typically presented with two primary options new or used. New vehicles, no matter how affordable, come with a higher price tag. This is due to the additional cost of manufacturing, shipping, and marketing the product. As a result, many individuals may be unable to afford the purchase. On the other hand, pre-owned vehicles offer a more budget-friendly option. However, the quality of the vehicle may not be as good as a new model, and the buyer may not have access to the same features and amenities.

 

Fortunately, in recent years, banks and credit unions have begun to offer competitive interest rates on new and used vehicles. This is a welcome development, as it provides individuals with the opportunity to purchase their choice of vehicle without breaking the bank.

 

By offering competitive interest rates, banks and credit unions have made it easier for individuals to purchase a car and keep their monthly payments manageable. This is beneficial, as it allows individuals to purchase a vehicle, even if they do not have enough money saved up for a large down payment. Additionally, the interest rates offered by banks and credit unions are often lower than those offered by other lenders. At Boulder Nissan our team will help you align all the pieces and shop around on your behalf to find you the perfect loan or lease that meets your budget.