HAUPPAUGE, N.Y. – In an effort to boost car sales, three Long Island credit unions and GrooveCar, Inc., will begin waiving the first monthly payment on auto loans for members who purchase new and used cars, effective Jan. 15.
The "Pocket Your Payment" offer is good on payments up to $500; members whose payment is in excess of $500 must pay the difference.
Participating are Bethpage FCU, Nassau Financial FCU and North Shore LIJHS FCU. The goal is to get members car shopping at one of the more than 300 auto dealerships on Long Island and in Queens, N.Y. "Many consumers are cash strapped from the holidays," said Frank Rinaudo, senior vice president with GrooveCar. "Since their first payment is already paid, consumers will not have to make a monthly payment until the spring."
GrooveCar provides shopping, buying, financing, leasing and other related services on cars, motorcycles, RVs and boats.
