Discount on Auto Loan Rates for purchasing “Green Vehicles”
A number of local banks and credit unions (and even one large national bank) are offering fairly noteworthy discounts on auto loans if you’re purchasing a new or used “green vehicle.”
For example Columbia Credit Union out of Washington state is offering auto loan rates as low as 3.74% APR, if your vehicle is eligible for their “E-Go loan discount” of 0.25% APR.
US Bank has an even more enticing offer on their green auto loan rates. For a limited time, U.S. Bank and the U.S. Environmental Protection Agency (EPA) want to help you save fuel, money and the environment with “SmartWay.”
What is SmartWay?
When you identify a cleaner, more fuel efficient vehicle through the EPA Green Vehicle Guide, and choose to finance or refinance that new or used U.S. EPA Certified “SmartWay” vehicle with U.S. Bank, you can get .50% off the interest rate on your U.S. Bank direct auto loan.
US Bank claims to set them self apart from other financial institutions offering similar deals in that – some lenders offer green vehicle programs only on new or nearly new vehicles, hybrids or high gas mileage vehicles. However, at U.S. Bank, eligible vehicles include all EPA Certified SmartWay autos and light trucks from the current model year through the six previous model years.
If you know of a similar deal offered through your bank or credit union, please share by leaving a comment!
December 9th, 2009 at 2:27 pm
BECU has a auto loan promotion where they will pay for your interest for the first 3 months.
December 9th, 2009 at 3:02 pm
Thanks for the great mention on your blog about Columbia’s E-go Green Auto Loan. Just wanted to point out that in addition to our .25% APR discount for SmartWay vehicles, we also have a .50% APR discount for SmartWay Elite vehicles.
Nancy Olmsted
VP Marketing
Columbia Credit Union