TrueCar Inc., the online car-buying and selling platform, is estimating a seasonally adjusted annualized rate, or SAAR, of 17 million new units this November, thanks to the early launch of Black Friday sales campaigns.
“Black Friday has established itself as the start of the final epic selling season of the year, and this year that season has started earlier than ever,” John Krafcik, president of TrueCar said in a press release. “Hard-hitting sales events, great new products, and receptive consumers are driving a 17 million SAAR in November — that’s terrific for the industry and a positive sign as we look to 2015.”
Black Friday isn’t just for captives and dealerships offering incentives on car sales though, with even credit unions trying to get in on the action this year.
Erie Federal Credit Union is offering auto loans with interest rates starting at 0.99% for customers with 640+ credit scores and proof of income on Friday, but customers better hurry because the rates go up every 30 minutes from 9:00 until 5:00pm, according to the lender’s website.
At 12:01 AM on the dot, Boulder Valley Credit Union members can apply for what the Colorado-based lender is calling the Auto Loan Rate of the season special: 2.49%, 60 months auto loans, until 11:59 PM on Cyber Monday. However, BVCU requires a slightly higher minimum credit score of 680, according to its website.
Some credit unions are not only extending special financing, but incentives to refinance as well, like 1st Financial Federal Credit Union in the St. Louis, Mo. area, which is also offering auto loans at 2.49%, but with an extra $100 for consumers that refinance existing loans from other lenders.
