Posts Tagged 'rebate'

Rebate 2010: birthday present

Cindy Grymko took the rebate

Last year, Cindy Grymko was thinking about her upcoming 50th birthday, and thought a new car would be a great gift.

So she got one. A beefed-up Chrysler 300C, complete with a Hemi motor and “all the horns and whistles,” she says.

“This is an upgrade model,” Cindy says. “I thought, ‘What do I need a Hemi for?’”

Cindy financed her car with Chrysler, but before she made her first payment an American 1 employee at our former Argyle Branch told her about the 50% loan rebate in April. She hadn’t had the car a month yet, but figured, “why not?”

“I told them, ‘Sure, sounds good. What do I have to do?’” Cindy says.

Initially, she had no idea how much she would get back for her interest rebate. She figured maybe $400 or $500, tops, for the interest she was paying on her souped-up Chrysler.

But when the rebate deposit hit her account, she saw the rebate gave her more than double what she thought.

“I was like, ‘Wow, that’s cool,’” Cindy says. “It’s helped me stay afloat, with the economy and helping the kids.”

Cindy was off work due to knee surgery, and was afraid she might be late on a payment – which would mean she would forfeit the rebate. But she found a way, and ended up being one of the top five rebate recipients last year.

“I would tell anyone to do it,” she says. “It’s like a tax refund, but it helps build your credit.”

Learn more about our 2010 rebate.

Rebate 2010: In the market

Robert Baker took the rebate

Robert Baker wasn’t thinking about getting a new car until he learned about the loan rebate at our Battle Creek Branch last year.

The car? A 2009 Mercedes-Benz Clk.

“It was a car I’ve wanted for a long time,” Robert says. “And the price was right.”

Robert was one of the top rebate recipients this past January, earning back over $1,100. He and his wife used the rebate cash to travel to Florida with a motorcycle and cruise through the Keys.

To get the rebate, he financed a smaller, sporty luxury car that only had 400 miles on the odometer – but was still considered used. Robert spotted the Mercedes on eBay, waited until the auction ended, then called up the owner and made a deal.

“Without the rebate, I wouldn’t have even been looking,” he says. “All things considered, it wasn’t bad. Everything fell into place.”

Now he loves his car, and recommends that others take advantage of the rebate, too.

“Especially if you’re in the market,” Robert says. “I might just do it again this year.”

Learn more about our 2010 rebate.

Rebate extended through Saturday, with longer branch hours

A heads-up: we’re extending our Great American 1 Rebate offer through Saturday, and we’re extending all branch hours to 7 p.m. on Friday and until 4 p.m. on Saturday. That way you can pop in to any branch after work this weekend and get your loan closed.

Check out all our branch hours and locations to see what works best for you.


“Do I have to pay back my tax rebate check?”

No.


You don’t have to claim it on your 2008 taxes, you don’t have to pay it back in any way – it’s essentially “free money.” The economic stimulus checks won’t reduce your tax refund – if you get one – next year, either.

I know, I know. It’s hard to believe. But it’s a “thanks for being an American citizen” check, one that the government hopes you will put to “good use” on the economy. However, there are better things to do with your tax rebate check, as we’ve learned.



ScamWatch: IRS warns of tax rebate scams

The IRS has posted new warnings about phone and e-mail scams, both tied to this year’s economic stimulus payments and tax season, by fraudsters seeking to acquire taxpayers’ financial institution account numbers and other sensitive data.

In one of the scenarios, people have been contacted by phone and told by the caller that they need to provide their account numbers in order to get the stimulus payments. But IRS isn’t calling or e-mailing people for this information; it’s making the payments based on information in taxpayers’ tax returns.

In another case, people are receiving an e-mail with a link to a form where recipients are told they must provide information to receive their payments by direct deposit. IRS says the senders are probably really trying to get recipients’ personal and financial information so they can clean out their accounts. And taxpayers that want to receive tax refunds, or stimulus payment, by direct deposit are already instructed to provide the required information on their tax returns, it notes.

//Source: NAFCU, via IRS

Tax rebate information available.

Looking forward to your tax rebate this summer, but unsure of the timing or amount?

Look for more information at the Internal Revenue Service’s “Economic Stimulus Payment Information Center” at irs.gov. They also provide a handy rebate calculator that helps you determine how much you’ll get back. About.com has put together a reference site with links to many informational articles and sites, so check that out, too.

We ran an article in our April quarterly newletter about useful things to do with your check, including:

  • Save for a rainy day
  • Pay down high-interest debt
  • Keep up with maintenance on your vehicle
  • Pay a little extra toward your retirement with an IRA
  • Make long-awaited home improvements

The best thing? Be smart about it. Don’t waste an opportunity to get some things done, financially, that you’ve been putting off.

Also, check out the tax rebate FAQ we posted.


American 1 Federal Credit Union