A Powerhouse Loan is a car loan with tax benefits*. You get the same low automotive loan rates, but since you're using the equity in your home, the tax benefits can make your rate even lower! Here's how it works:
- Complete the regular loan application and submit it with your latest tax assessment and warranty deed
- Don't worry about application fees or hidden costs. There are none!
- Receive a line of credit to be used for multiple vehicle purchases for up to 10 years.
Powerhouse loans are packed with benefits:
- Tax
Deduction* : If you itemize your return, your effective
rate on the loan will be even lower. For an individual qualifying
for a 5.50% APR** loan and itemizing taxes at 28% tax bracket,
the effective rate on the loan will be 3.96%!!
- Quicker and Easier than Traditional Home Equity Loans
- No appraisal, No title search, and No fees
- Low rates : Benefit from the already low CU rates on new and used cars
*Consult your tax advisor for eligibility
**APR=Annual Percentage Rate. Subject to creditworthiness.
Need help finding a car. Try Car Solutions, our no-hassle car buying service. They'll work with you to find the car you want, negotiate the price, and arrange delivery. Call today for a FREE consultation.
Click here for information on GAP. Click here for information on Mechanical Breakdown Insurance.
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