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Used Vehicle Payment Options and Return Policies



When it comes to paying for a car, you have two choices: pay in full or finance over time.

Financing increases the total cost of the car because you’re also paying for the cost of credit, including interest. Consider how much you can pay as a down payment, the monthly payment, the financing period (such as 60 months), and the annual percentage rate (APR).


Low monthly payment offers may be tempting but often have longer loan periods and higher interest rates, which means they’re much more expensive overall. So, make sure you know the total cost with financing — not just the monthly payment amount.


Dealers and Financial Institutions offer a variety of financing terms. Shop around, compare offers, and negotiate the best deal you can. APCI FCU offers vehicle loan financing with terms from 3 to 7 years. Get pre-approved and shop with confidence.


If you decide to finance the car, make sure you understand the financing agreement before you sign any documents.

  • What’s the exact price you're paying for the car?
  • What is the total sales price with financing — that is, the sum of the monthly payments plus the down payment?
  • What’s the finance charge (the dollar amount the credit will cost you)?
  • What’s the APR (which measures the cost of credit as a yearly rate)?
  • How many payments will you make — and how much is each one?

Return Policies - Before you buy from a dealer, ask about the dealer’s return policy, get it in writing, and read it carefully.

  • Federal law doesn’t require dealers to give you three days to cancel the deal and return the car.
  • In some states, dealers must give you the right to cancel. In other states, the right to return the car in a few days for a refund exists only if the dealer chooses to offer this option. Dealers may describe the right to cancel as a “cooling-off” period, a money-back guarantee, or a “no questions asked” return policy. Check with your state attorney general for the rules in your state.

View all of our 2023 - A Year of Financial Wellbeing Blog Posts.

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