Now you can add "fuel efficiency" to the list of reasons a driver can qualify for an auto loan.
A North Carolina credit union has introduced a new loan aimed at consumers in the market for high-gas-mileage cars. The Fuel Efficient Auto Loan applies to any new or used vehicle getting 29 miles per gallon or more on the highway, and boasts a 0.5 percent financing rate discount.
The new loan comes at a time when consumers are shunning gas-guzzling autos such as SUVs. The company believes it can help people save money as well as promote the purchase of environmentally-friendly automobiles. "It's designed to help our members save money at the gas pump and reduce their financing costs," said Troy Martens, Truliant's vice president for consumer and real estate lending.
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