Auto Loan Interest Tax

New/Used/Refinanced AUTO LOANS Rates as low as: 3.9 % APR* 410-487-SECU • 1- 800 -TRY-SECU • www.secumd.org • Sept./Oct. 2003 (details on page 2) SECU’s Auto Loans can beat dealers’ 0% APR! A rebate or dealers’ 0% financing: which is the better choice for you? Combining a rebate with a SECU Auto Loan or Tax Max auto loan may be the answer!** To find out, subtract the rebate amount from the purchase price — then see how low your monthly payment would be with a SECU loan. Our online calculator does the math for you Go to the “Rates & Calculators” button on our home page and click through to use our free auto-related calculators. Try the “Which is better” rebate calculator to compare dealers’ financing and SECU’s. Just type in your (continued on page 2) Treat yourself to a quality used car! Purchase a car at our October Enterprise Car Sale and receive a free 32” color television! Buy your next car at SECU’s 3-Day Enterprise Car Sale, from Thurs., Oct. 16 through Sat., Oct. 18 at two Enterprise locations: Glen Burnie (502 N. Crain Hwy.) and White Marsh (10825 Pulaski Hwy.). The sale will be held from 9:00 a.m. to 7:00 p.m. on Oct. 16 and 17 and from 10:00 a.m. to 5:00 p.m. on Oct. 18. You’ll receive a 32” color television, compliments of Enterprise and SECU, if you purchase an Enterprise car with SECU financing during the sale!† Enterprise has a remarkable selection of well-maintained, late model used vehicles and offers guaranteed, no-haggling pricing below the Kelley Blue Book™ retail value. Enterprise also has a 7-day repurchase policy to make sure you’re satisfied with your vehicle. Plus, you’ll also receive free 12-month roadside assistance from the American Automobile Association (AAA). In this issue: • Free account access for Online Banking • CUALN dealers offer SECU financing • The Dental Network • Financial Counseling • Read-to-Win crossword puzzle Get SECU financing at the sale Apply for your SECU Auto Loan right there. Or, to save time during the sale, get pre-approved by SECU first: visit a branch, apply online or call a Loan Consultant at 410-487-7290. † Offer valid during SECU’s Enterprise Car Sale Oct. 16, 2003, through Oct. 18, 2003, only. Call 410-487-7290 for details. SECU’s Auto Loans (continued from page 1) specific information, such as rebate amount and the car’s purchase price, to determine your best deal. Not online? Call us or visit a branch and ask a SECU Member Service Representative to assist you. Get SECU financing at your dealership Credit Union Auto Loan Network (CUALN) dealers provide on-thespot SECU financing to make your car buying experience easier. With nearly 200 CUALN dealers in the greater Baltimore-Washington area, your preferred dealer probably belongs to this network! When you discuss financing, be sure to mention that you want a SECU loan. For a list of CUALN dealerships, visit our Web site and go to the “News & Resources” button for the “Service Partners” link. Or stop by any SECU branch. Free account access for Online Banking Whether you’re a morning person or a night owl, check your SECU accounts anytime with Online Banking. There are no enrollment or monthly fees! Use your personal computer and Internet connection to view account balances, transfer funds and more. Once you’re enrolled, sign up for free eStatements, too. Why wait for mailed statements when you can read your statements online? We’ll let you know by e-mail when your statement is ready. You can also enjoy the convenience of our optional Bill Pay service for a monthly fee of $5.95. Arrange for automatic bill payment from your SECU Checking account and say “so long!” to writing checks. To find out more about Online Banking, visit our Web site at www.secumd.org. More great reasons to get a SECU loan SECU’s super low rates are for new, used or refinanced auto loans. Pick the term that works for you, up to 72 months for new cars and up to 60 months for most used cars. It’s easy to apply for a SECU loan: • Apply online at www.secumd.org; get an answer in 60 seconds or less! • Call SECU anytime: 410-487-SECU or 1-800-TRY-SECU (option 3). • Visit a branch and pick up a brochure. There’s an application and return envelope inside. • Fax your loan application to 410-487-7411. • Visit any Credit Union Auto Loan Network dealership and get a SECU loan right there. For details, see the article at right. When you go car shopping, look for the CUALN logo at your dealership. Get your SECU loan right there! Save $1,200 when you buy a $25,000 vehicle* Taking the rebate makes a big difference! SECU’s 3.9% APR* Dealers’ 0% APR * financing financing Vehicle Purchase Price $25,000 -$3,000 $22,000 $25,000 $0 $25,000 Board of Directors John D. Kenney, Chairman; Donald Tynes, Sr., Vice Chairman; Mark A. Reger, Treasurer; Janet Q. Bacon, Secretary Directors: Dr. John W. Dorsey, Ellen C. Gardner, John G. Luber, Gayle M. Seward; Directors Emeritus: Major Melvin W. Fisher, M. Lorraine Hebrank and Henry A. Heinmuller, Jr. Dealership Rebate Final Loan Amount 48 Monthly Loan Payments of $496 $521 *APR = Annual Percentage Rate. 100% financing available. New/ used/refinanced auto loan rate example: 48-month loan at 3.9% APR = $22.51 per month per $1,000 financed. Other terms available; call for details. Used/refinanced car terms based on the vehicle’s model year and amount financed. The rate for new/ used/refinanced auto loans is determined by terms, application and credit history. Auto loan rate reflects Direct Loan Payment rate reduction. Your actual rate may be higher. Rate effective 8/25/03 and is subject to change without notice. **SECU’s TAX MAX loan places a lien on the new or used vehicle and the homeowner’s property. No home appraisal is required. Interest is usually tax-deductible (consult your tax advisor for details). For more information, call SECU: 410-487-SECU or 1-800-TRY-SECU Do your homework before you test drive Buying a car is serious business since you’ll be making monthly car payments for a few years. Before you fall in love with your dream car, here are some questions to think about: the models you’re interested in. Be firm in refusing add-ons like undercoating protection if you don’t want them. With used cars, your choices are more limited. What should you pay for your car? If you’re on the Internet, see the link to the National Auto Dealers Association (NADA) on the Auto Loans page on our Web site. Other sites like www.kbb.com, www.edmunds.com, and www.cars.com can help you research car values. SECU members can also use the MVCP and UBS carbuying services free of charge; ask at your branch or visit our Web site. Don’t start negotiations from the Manufacturer’s Suggested Retail Price (sticker price), work up from the Dealer Invoice Cost (dealer’s cost). Remember to ask about available rebates; they’re often passed along directly to you from the manufacturer. You should also know the value of your trade-in before you enter the showroom. Not on the Internet? Your local library can help you with online access or magazines. What loan payment can you afford? Don’t just focus on the monthly payment; the term is important, too. A longer-term loan means you’re paying more interest. The free calculators on our Web site can help you decide what you can afford — see the “Rates & Calculators” button on our home page. Apply at any branch or by phone: call SECU (option 3). Or apply online anytime at www.secumd.com. *APR = Annual Percentage Rate. Line of credit rate is Prime minus ½% with a minimum rate of 3.5% APR and a maximum rate of 18.00% APR; Prime rate was 4.00% as of 8/25/03 and may change. The rate is determined by application and credit history. Minimum initial draw is $10,000; up to 80% Loan to Value (LTV). Credit lines up to 100% LTV also available. SECU pays for appraisal, credit reports and closing costs on your first SECU Home Equity Line of Credit, one per primary/secondary residence. Closing costs range from $650 to $850 on a $10,000 line of credit. Adequate property insurance required. If loan is paid off within 24 months of original note date, closing costs must be reimbursed to SECU by borrower. Consult your tax advisor for deductibility of interest. Should you buy a new or used vehicle? Choosing between a new or used vehicle depends on more than what you can afford. Some people prefer purchasing a brand-new model because they’re generally more dependable. Or maybe last year’s model is still sitting unsold on the dealer’s lot and can be purchased for a special price. Late-model used cars can be a great buy because you’re not losing value through instant depreciation. However, unless you know the previous owner, you may be concerned about the car’s history. Pay a trusted mechanic to check out the car before you buy. Or see the link to the Carfax service on our Web site. SECUrity Financial Group The Dental Network keeps your smile bright The Dental Network, Inc., offers affordable dental coverage for you, your family and even your household members. You’ll benefit from the savings of group rates, plus: • No claim forms • No deductibles • No limit on pre-existing conditions • No limit on dental visits It’s the convenient way to pay for dental benefits! Along with your regular premiums, you’ll pay a fixed office visit co-payment for basic dental service. For more information, call The Dental Network at 410-847-9060 or 1-888-833-8464. Or look for the link from the “Insurance & Investments” button at www.secumd.org. Available through SECUrity Financial Group, a wholly-owned subsidiary of SECU. Get your money’s worth with a Home Equity Line of Credit Homeowners can borrow the taxadvantaged way with a Home Equity Line of Credit. Unlike credit card interest, the interest paid on home equity is generally tax deductible (consult your tax advisor). With rates as low as 3.5% APR*, why put off that big project you’ve been thinking about? Remodeling a kitchen or bathroom, paying for college tuition or buying an SUV— use the equity in your home for whatever you like. Since there are no closing costs on a SECU Home Equity Line of Credit, you don’t need cash upfront!* What options are “must haves” for you? Maybe you don’t care about a 6-CD player or leather upholstery. If you do, getting all the options you want may mean stepping up to another level of vehicle. Or maybe safety features like anti-lock brakes or side air bags are the deal-maker for you. For new car purchases, visit dealers or go online to see exactly which features are standard or options for Holiday Schedule All SECU branches and offices will be closed on Monday, October 13, 2003 (Columbus Day). Visit SECU on the Internet, 24 hours a day: http://www.secumd.org Our Financial Counselors can help you rebuild your credit How much do you know about SECU’s Financial Counseling program? Take this quick quiz: 1) Our Financial Counselors will help you create a personalized spending plan. ___True ___False 2) You don’t need a SECU loan to participate in the program. ___True ___False 3) This program is confidential and free for SECU members. ___True ___False 4) Even if you have “okay” credit, you’ll learn how to save more money. ___True ___False You know a lot about our Financial Counseling if you answered “True” to every question! SECU’s Financial Counseling program is a “self help” plan. Unlike debt management companies, SECU doesn’t negotiate with creditors directly. Instead, through your counseling sessions, you’ll be advised how to repair and rebuild (or even establish) credit. Counselors will help you create a spending plan and set up savings goals, including saving for a mortgage down payment through the HOPE program. To get started in our Financial Counseling program, complete a Debt Counseling questionnaire and mail it back to SECU. For a questionnaire, visit a branch or our Web site (look under “Applications & Forms”) or call SECU. You’ll be contacted by a Financial Counselor after we receive your questionnaire. Contact SECU SECU Line Call one of the phone numbers below and select option 8 for our Contact Center, Monday – Friday, 8:00 a.m. to 7:00 p.m. and Saturday, from 9:00 a.m. to 1:00 p.m. Baltimore area: 410-487-SECU (7328) Toll-free, other areas: 1-800-TRY-SECU (1-800-879-7328) 24-hour Expressline: press “1” Expressline-only (Baltimore) 410-487-7930 Toll-free Expressline-only: 1-888-643-9777 TDD (Baltimore area): 410-487-7905 Toll-free TDD, other areas: 1-888-833-7328 Win $50 in our “Read to Win” drawing! Any SECU member who completes this crossword puzzle and mails it to SECU by Oct. 17, 2003, will be entered into a drawing to win a $50 deposit to his or her Share Savings account! Mail your completed puzzle with your name, Member Number and daytime phone number to: “Read To Win Drawing,” P.O. Box 2337, Baltimore, MD 21203-2337. One winner per month; see our Web site or call SECU for complete drawing rules. Please do not include deposits or forms with your entry. 1 2 6 8 10 12 13 14 15 9 11 3 4 7 5 On the Internet http://www.secumd.org SECU Credit Union of Md., Inc. 971 Corporate Boulevard Linthicum, MD 21090-2337 ACROSS 1. Credit Union Auto Loan Network _______ provide on-the-spot SECU financing. 6. Maryland (abbrev.) 7. An informal greeting 8. Buying a late model used car _____ you money because you’re not losing value through instant depreciation. 10. Artificial Intelligence (abbrev.) 11. An atom that has an electrical charge 12. Andrew _____ Webber, composer 14. Short for “Terrapin” (nickname) 15. Football players wear these on their knees and shoulders. DOWN 2. SECU will send you an _____ message when your eStatement is ready. 3. Adverb (abbrev.) 4. Relative humidity (abbrev.) 5. ____ __ (two words) for free eStatements; there’s no monthly fee! 8. Purchase a quality used car at our Enterprise Car ____, held Oct. 16-18. 9. A hexagon has six _____. 13. Year to date (abbrev.) Your Savings Federally Insured to $100,000 NCUA National Credit Union Administration A U.S. Government Agency Please print: Name ________________________________________________________________________ Member No.______________________ Daytime Phone No. (_________)______________________________