Take Advantage of Your Employer’s Low Interest Auto Loan

Does your company have a low interest auto loan benefit? If they do, you better take advantage of it. Getting a low interest on car loans from external sources can be risky so why not go for this option that’s readily available to you? Auto finance companies seldom convince you to read the fine print. Extremely high interest rates, lengthy loan periods and pre-penalty terms can jump up the cost of buying a car.

A good choice of lender is your very own employer, if they have auto loan or car financing benefits. Your company financing can save you hundreds of dollars on interest payments. If your company is in the financial services industry, all the more you should avail of their car loan benefit. Most likely, they offer low interest based on subprime rates. This means that they can afford to loan you money to buy your car at rates lower than what most financing institutions charge. In a way, due to favorable portfolio investments, they can afford to subsidize a portion of your car loan.

Written by: Katrina Marion

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