Midland Credit Union puts drivers in Urbandale, IA on the roads for less this year. Financing with a low auto loan rate is the first thing borrowers can do to cut costs this year, and Midland is now offering a 2.49% APR to make the process easier.

Auto Loan Rate Terms and Conditions

Borrowers who are interested in financing their vehicle at this auto loan rate must undergo credit score and credit history checks, per standard procedure. Additionally, this interest rate only applies to new vehicle models between 2009-2012 years. Depending on members’ existing accounts with Midland Credit Union, they may be eligible for an extra auto loan rate reduction.

About Midland Credit Union

Midland Credit Union was a result of a merger between multiple local credit unions in the Urbandale area, which led to the institution’s massive expansion within the financial sector. As a non-profit cooperative, the credit union fosters traditional financial values including saving money and borrowing at fair rates and terms. The institution as it stands has developed into a highly-regarded operation throughout the years wi…………… continues on Go Banking Rates

A German unit of Societe Generale (GLE) SA is selling about 500 million euros of bonds backed by auto loans, according to three investors with knowledge of the matter.

Bank Deutsches Kraftfahrzeuggewerbe AG will issue the asset-backed securities through the Red & Black Auto Germany 1 vehicle, and the notes are expected to carry top credit ratings, the investors said.

The bonds will have a weighted average life of about 1 1/2 years and be backed by repayments on about 72,000 German auto loan originated by Bank Deutsches Kraftfahrzeuggewerbe, the investors said. An investor roadshow is scheduled to start on Feb. 1.

To contact the reporter on this story: Esteban Duarte in Madrid at eduarterubia@bloomberg.net

To contact the editor responsible for this story: Paul Armstrong at parmstrong10@bloomberg.net

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