The Greater Central Texas Federal Credit Union is a customer friendly credit union where you can obtain cheap auto loans with flexible loan terms. We have been providing auto loans to customers in Central Texas since our establishment in 1957, making us a trusted name in financial services. Our aim remains to help people secure their dream car without undergoing a tremendous financial burden. Our friendly staff shall help you to determine the best loan terms for you based on a detailed financial evaluation.

Greater Central Texas Federal Credit Union deals with auto loans on used as well as new cars, including cars, SUVs, vans, and trucks. In addition to that, we also offer loans on campers, ATVs, boats, and motorcycles, offering a comprehensive loan service for our members. We ensure that you get the best possible deal on an auto loan, by offering competitive interest rates, flexible loan terms, quick loan approval, and personalized loan services.

The various auto loan options that you can choose from at our credit union include secured auto loan, new car 72-month auto financing, and low interest used car loan. Our integrity and commitment to meeting the financial needs of our members has gone on to make us one of the most renowned credit unions in Texas. We also make an effort to make the loan repayment process easier, through easy online access for loan payments, and loan payment calculators to guide your financial decisions. Being a non-profit, member-run organization, we do not include any hidden fees or costs in our loan payments, and offer a high degree of transparency all through the loan process.

Once you qualify for our auto loans, we shall help you to tailor an auto loan that best meets your budget and needs. With the assistance of our financial advisors, you can be sure to hit the road faster, as we make every effort to offer you the lowest possible interest rates, and a fast and easy loan process. Our secured auto loans are also a good option if you are looking for an auto loan, and already own a car with a worth that is at least 20% greater than that of the requested loan. For those looking to buy a car on limited savings or a fixed income, our 72-month auto loan could be the best option, as it makes it possible for you to invest in your dream car without breaking the bank.

Looking for the right financing option while buying a new or used car can be a daunting process, especially with dealerships doing all that’s in their might to make their financing programs sound highly attractive. However, if you are looking for a cheap auto loan, it is highly advisable to get started at your local credit union, where there are high chances of getting the best auto loan rates. The Greater Central Texas Federal Credit Union serves multiple locations across Central Texas, and can help you to get the lowest used car loan, as well as attractive rates on new cars. We have been serving Central Texas since our establishment in 1957, and ensure that we provide the best deals to our customers.

Below is a list of the top reasons to get a car loan from a credit union:

• Credit unions are more likely than a commercial bank to consider personal financial issues such as a mediocre credit or previous credit issues. Even though credit unions essentially follow the same process for a loan application and approval, they offer a greater degree of flexibility, making them more customer-friendly.
• The interest rates at a credit union are typically much lower than those at other financial institutions, which equates to substantial long-term savings for the borrower.
• Being non-profit organizations, credit unions are member-oriented, which is why they offer a high degree of personalized attention, providing members with the best possible customer service. Since a group of volunteer board members is responsible for making all operation decisions, the members of the credit union have a greater say in how the credit union works.
• Credit unions provide their members with useful educational resources that can help them to make the right financial decisions when assessing the value of their car purchase. Credit unions help you to look beyond the dealership value of the car, into a clear assessment of the car’s real value.
• Credit unions follow a non-sales approach, contrary to commercial banks which grant bonuses and compensations to employees for loans that get approved. On the other hand, all the proceedings gained from credit unions are returned to the members in the form of lower rates and flexible loan options.

To learn more about the membership requirements, and used/ new car loans at Greater Central Texas Federal Credit Union, contact us at (254) 690 - 2274.

A 72-month car loan is among the longest loan terms offered by any lender, and is vastly different from a conventional car loan with a shorter term. The basic advantage offered by such a loan is that it helps to keep payments low, which is especially important for people with a limited household budget. Even though the borrower may end up paying more eventually, these budgeted payments help to control the monthly expense, helping not to break the bank.

Another advantage offered by such a loan is that it gives the borrower more time to keep the car, during which they can generate additional income from the vehicle, hence having greater control on making timely payments. Moreover, most lenders offering 72-month auto financing in Texas also offer the option of refinancing, if you eventually wish to do so. In this way, you can benefit from changes in the country’s prime lending rate despite opting for a long-term car loan.

Such a loan is especially beneficial for someone with a fixed income and small savings, for whom a car is the single investment they intend to make over a long period. In that case, a 72-month auto loan is a good option, since it is your only financial liability. If you are looking for a cheap 72-month auto loan in Texas, your local credit union could be your best option. Credit unions, being member-owned, not-for-profit financial institutions offer the lowest interest rates for all types of used and new car loans. The rates for 72-month loans at credit unions are definitely the lowest available.

Even if you are not yet a member of a credit union, joining one is very simple, with their easy membership criteria. The basic requirements that you need to qualify for a 72-month auto loan include a good credit score, a large down payment, and a proof of income.

Considering that the lender is relying on you to make regular, solid payments for a 6-month period, it is understandable for them to be looking for people with a good payment history. Having enough money to put down for your initial payment can go a long way in bringing down the interest rate on your loan. Finally, you need to establish a regular income to ensure the lender of your ability to make long-term payments.

Buying a camper is a step into a complete new way of living for many. Getting the right loan for your camper can help to ensure that you enjoy this exciting process, without succumbing to the financial burden of a bad loan. The Greater Central Texas Federal Credit Union serves clients across Central Texas, and is place to go if you are looking for a cheap auto loan for your camper in Texas. Being a member-run non-profit organization, we keep the needs of our members above all else, ensuring fair loan terms and the lowest possible interest rates.

We understand that the long financing terms and high monthly payments involved in a typical camper loan can be intimidating, which is why we work with you to decide the best possible loan option for you, ensuring that you end up with a low “effective” interest rate in the long run. The current financing condition for campers is great across Texas, with interest rates being at an all-time low, and refinancing opportunities for campers being plentiful. This is a great time to buy a camper, and if you are ready to take the plunge, the representatives at our credit union shall be glad to assist you with financing options to meet your budget and needs.

With more than 8 million households across the U.S. owning a camper, this is definitely amongst the top investments to make, and with good reason, considering all the freedom and benefits that it entails. Much like an auto loan, you want to have your financing terms in place before you make the purchase. If you are looking to buy a camper in Killeen TX, you can get some great loan options at GCTFCU. Ever since our establishment in 1957, we have created a legacy based on trust, service, and integrity, ensuring the best possible financing terms for our customers.

Our camper loans are personalized to meet your individual needs, and offer you the flexibility that you need in such a loan. We also offer loan prospects for full-timers, making us a comprehensive solution for camper loans across Texas. Interest rates for these loans may not always be as great as they are at present, so if you are considering making this investment, there is no better time than now to do it. Contact us at 254-690-2274 to request a quote for your camper in Killeen.

A title car loan, also known as an auto title loan or a pink slip loan, is a secured loan in which the vehicle title is used as collateral. The basic advantages offered by such a loan are the short loan period and the simplified procedure of getting approval for such a loan. If you are looking to get the lowest possible used car loan in Texas, considering a title car loan from the Greater Central Texas Federal Credit Union is a good idea. We are a customer-first credit union providing services across various Central Texas locations.

These car loans are emerging as a good option for financial emergencies, when you need an instant cash loan. To learn more about how these loans work, the principal amount that can be lent against them, the duration of the loan period, and the interest rates that we offer, contact the Greater Central Texas Federal Credit Union by calling at 254-690-2274. We shall be glad to assist you with information on our various loan options, and on financial advice of the best car loan to meet your needs. We value every minute of your time, which is why we make every effort to expedite the process of applying for a loan, and ensure your convenience at every step.

In order to apply for a title car loan, you will typically have to provide some form of identification along with your paperwork. The additional documents required include a proof of income, proof of residency, car registration, car title, references, and car insurance. The maximum amount that you can borrow against your car title depends on the value of the vehicle. Being a not-for-profit organization makes it possible for us to offer lower interest rates on these loans than typical financial institutions.

In addition to title car loans, you can also get a cheap auto loan from our Texas credit union.  Contact us today or visit our Killeen office to consult one of our representatives, and see if you are eligible for our customer-friendly loan options. Our aim remains to provide the best possible loan services to the Texas community, and we strive to ensure that each of our customers gets the personalized attention they deserve. Whether you are looking for a quick loan in the form of a title car loan, or are in search of the cheapest car loan options, we have the best solution for you.

A secured loan is one in which the borrower puts up a personal asset as collateral, based on which the value of the loan is determined. In most cases, the collateral is the same item for which the loan is being borrowed, which in the case of an auto loan is the car. This means that the lender can repossess the vehicle if the borrower fails to make the agreed-upon payments.

In some cases, the lender might also ask for additional security on top of vehicle for which the loan is being taken. This could be in the form of the borrower’s home, boat, or other property, which the lender holds against the loan. The legal document possessed by the lender in case of a secured loan is known as a lien, which the lender releases upon repayment of the loan. In case the borrower fails to repay the loan, the borrower can legally exercise the lien to take possession of the collateral.

The requirements for getting a secured auto loan in Texas are:

• Verifiable income: The primary requirement by most lenders for secured auto loans is a verifiable source of income. This could be in the form of paycheck stubs from several previous pay periods, bank statements showing regular monthly deposits from a certain source, or federal tax returns in case you are self-employed.
• Residency: The lender will usually want to know that you have been occupying your current residence for a sufficient period of time- usually 12 months. If you have recently moved into your present home, you might need to show that you have resided at a single address for a period of at least 12 months in the past ten years.
• Steady employment: The lender wants to ensure that you shall be able to make payments against your loan regularly, which usually comes with steady employment. You should be able to prove that you have been steadily employed for the past 12 months or more. Self-employed individuals or those with alternate sources of income need to prove that they have a steady source of income.

If you fulfill all the above requirements, you should be eligible to get a secured auto loan in Killeen, TX. Be sure to shop around and compare interest rates, penalties, and benefits offered by different lenders, before settling for a secured auto loan.

If you are among the thousands of Americans procrastinating their financial obligations everyday due to a shortage of time, going online could be the solution you are looking for. Greater Central Texas Federal Credit Union, located on Elms Road, Killeen, has been serving the Central Texas community since 1957. With more than five decades of experience in providing high-quality financial services to our members, we are one of the most trusted credit unions in the region. We provide a host of online services with an aim to grant convenience to our members and help to save time and resources.

Whether you are looking for a cheap auto loan or a lucrative investment option, our online services will help make things quicker and easier for you. All that you need to do is click on the ONLINE ACCESS link on our website, and you shall be all set to get access your account online. Our highly secure login system ensures that your details remain protected while you use the online services. Using this system, you can enjoy round-the-clock access to your account, from anywhere across the world. The sign up process takes as less as a minute. You can contact one of our tellers right away to know more about how this online system works and all the services that you are eligible for.

Our members who sign up for our online services can pay their bills online simply by clicking on the “Quick Pay” world online. This method is absolutely safe and protected, and spares you the convenience of having to visit our office to pay your bill. We charge a nominal monthly fee of $5 for the online billing service. However, this service is free for members above the age of 55. In addition to paying your bills online, you can also make your Mastercard payment online without any hassle. You can call card services at 800-442-4757 or click on the ‘Go To My Card’ link on our website www.gctfcu.net.

These online services allow you to operate your account with Greater Central Texas Federal Credit Union from the comfort of your home or office. You no longer have to put your financial transactions on hold just because you are out on vacation or you are short of time. Manage everything on the go, just in the click of a button. Contact us to know more about our online services, and for information on our lowest used car loan.

Greater Central Texas Federal Credit Union has its origins dating back to 1957. We are a secure and sound credit union, based on a not-for-profit model, where all the proceedings from the credit unions go back to our members. The large number of financial opportunities and member services that we offer give us the reputation of being a highly trusted financial service provider. Here is a look at some of the key benefits that you can avail with a GCTFCU membership:

• Payroll deduction
• Direct deposit
• ATM
• Wire transfer
• Cash advance on your MasterCard and MasterCard gift cards
• Bill payments
• Online access to your account
• ACH origination
• Notary service

In addition to the aforementioned convenience services that we offer our members, you can also benefit from a wide range of savings and investment options. These are especially useful if you are planning to make a huge investment like a house or a car. As a GCTFCU member, you are entitled to open a regular share savings account, for which you need a minimum of only $25.00 to start with. You can benefit from our attractive dividend rates, which are paid on a quarterly basis.

Other popular saving options that our members can avail include Share Certificates of Deposit, IRAs, and club accounts. The SCD requires a minimum balance of $1000, and flexible terms ranging between 6 months and 36 months. The interest on these accounts is compounded quarterly. For those looking for a secured auto loan, getting a GCTFCU membership is a great idea, because we offer cheap interest rates and flexible loan terms, making it easy for you to convert your dream into a reality.

Our members are entitled to a wide range of options while getting an auto loan, which include pre-approval on the loan and refinancing. Other loans that we offer include boat loans, RV loans, home improvement loans etc. You can also enjoy low rates on our credit cards, which start from as low as 8.99% for our MasterCard Platinum. Our members are privileged to use these credit cards worldwide, without having to pay any annual fee.

You can also avail our exclusive skip-a-payment feature, which makes it easy for you to sail through a rough financial patch without having to worry about lagging behind on your loan payment. Our efforts remain to provide the best service and lending opportunities to each of our valuable members.

As exciting as it is to buy a new car, it is increasingly important to pay heed to the financial intricacies involved in this purchase, and make sure that you understand how your car loan is going to impact your personal finances. These financial calculations can be intimidating, which is where the role of a car loan calculator comes into play. Such a calculator is a useful tool for a layman to understand how a car loan works, and decide the best option to get a cheap auto loan that fits within their budget.

The car loan calculator at Greater Central Texas Federal Credit Union can help you calculate factors like how much your monthly car payment will be, how much you can comfortably afford as per your income and expenditure, etc. Car loan calculators help you to achieve accurate figures by taking into account loan terms like the trade-in value of your car, sales tax, down payment, etc.

Here is a look at some of the ways in which you can benefit from an auto loan calculator:

• The process of using an auto loan calculator is simple and straightforward, making it a lot less time consuming than a personal consultation with different car dealers and agents. You can try out different possibilities, altering the down payment, interest rate, monthly payments, loan period, etc. to know how each of these factors will impact your overall car loan.
• Making use of a car loan calculator helps you to be a better-informed customer when you actually go to buy a car. If you have all the knowledge of how different loan terms will impact your EMI, your chances of landing the lowest possible new or used car loan go up significantly.
• You can use a car loan calculator not only before, but also during the process of buying a car. For instance, if the dealer offers you a loan option that you hadn’t considered earlier, you can compare it to an option that suited you, instantly, by using a car loan calculator.
• In the end, the greatest benefit that you, as a car buyer will get from using an auto loan calculator is that you shall get the best possible deal on your car loan. It is almost like having a personal consultant with you wherever you go, willing to answer questions on as many possibilities as you can conjure for your car loan.

To obtain quick and affordable auto loans in Texas, you can count on Greater Central Texas Federal Credit Union. You can visit us at 3305 E Elms Road, Killeen, TX 76542 or call us at 254-690-2274.

Shopping for new or used car loans from credit unions is a great idea to get a cheap auto loan, as these financial institutions offer attractive loan terms and significantly lower interest rates than banks. The Established in 1957, Greater Central Texas Federal Credit Union is one of the 7700 credit unions across America, which has been serving people across Central Texas to procure low interest loans. Here are some of the top reasons that make getting a credit union car loan a great idea:

• Greater flexibility: When you walk into our credit union, you are not just another number, but are a valuable member whom we shall make every effort to help. You are much more likely to have your case heard out and considered at our credit union than at a bank. This could mean getting approved for a car loan even if you do not fulfill all the requirements of such a loan. 
• Lower interest rates: This is probably the major reason why a vast majority of people looking for an auto loan in Killeen, TX and other cities across America opt for credit union auto loans. While the interest rates for bank auto loans average at around 4%, those at credit unions are as low as 2%, amounting to a significant saving over the life of the loan.
• Non-profit approach: Our credit union follows a “for the members” and “by the members” approach. All the proceedings gained through interest are put back into the credit union for the benefit of its members. This is usually in the form of low interest rates, savings accounts, and increased flexibility in loan terms.
• Financial education and resources: The Greater Central Texas Federal Credit Union has a dedicated resource center for its members, where you can get valuable advice regarding your loan, repayment options, your financial situation, the real value of the car being considered, saving options, etc. At our credit union, you can always be sure of the lenders working in your best interest.
• Personalized service: You can be sure of getting the best customer service at our credit union, with a group of board members volunteering to make decisions regarding operation. This gives you a chance to openly discuss any issues you might be facing with your loan before or during the loan term, being sure of getting helped with the best solution for your problem.

For more information, visit us at 3305 E. Elms Rd., Killeen, TX  76542 or call (254) 690-2274.

Getting a new car financed has become the norm of the day as many people find it a convenient way of getting a car of their dreams regardless of whether they have the money required for the purchase. However, most of the people take the plunge into auto financing without understanding the intricacies related to it or having any basic knowledge of how such loans operate. Loans can be either short-term ones or long-term ones depending on their period of repayment. Loans for which the repayment period is stretched over a long period are the long-term ones whereas short-term loans are those that are paid off quickly usually within 24 to 36 months.

Long-term loans last for 48 months or longer and can stretch up to 72 months in some cases. Such loans might seem more lucrative than the short-term ones but prove to be more expensive in the long run. The interest rates for such loans are lower than those for short-term loans but considering the long periods over which the monthly installments are spread out, they end up being much more expensive. Short–term loans on the other hand have slightly higher rates of interest which could be a bit discouraging for some but take less time to get repaid and save on costs too.

If you are keen on getting a short-term loan at very competitive rates of interest, credit unions could be a better option than other financial institutions. Credit unions are financial institutions formed by people with some common bond who pool in their assets for providing loans to members. Credit unions are usually smaller organizations than other financial institutions, which means that you are sure to enjoy faster services and personalized attention. There is always some scope for negotiating on the rates of interest in credit unions, which gives more flexibility to a borrower.

So, if you are looking for a loan repayment plan in which you get to repay the amount borrowed within the warranty period to avoid paying for repairs out of your pocket, getting a short-term loan from a credit union could be the smartest option. You can also get an extended warranty on long-term loans but this will only lead to an increase in your monthly payments and defeat the purpose for which you got such a loan. Therefore, before getting an auto loan, always consider the repayment period and the effect it will have on your overall expenses.

If you want to procure 72 month auto loans or short term loans in Central Texas, visit us at Greater Central Texas Federal Credit Union only. We are located at 3305 E Elms Road, Killeen, TX 76542.

An auto loan is one of the best ways of buying the car of your dreams irrespective of your present financial status. However, before getting your car financed, it is important to be well-versed with all aspects of such loans. You must have knowledge of how the interest rates work, number of installments involved, terms and conditions, etc. Before finalizing on an auto loan, it would be good to consult a financial expert who can throw light on common problems that are encountered in auto loans and what can be done about them. Such advice will be helpful in letting you know what to expect and how to avoid potential problems.

Auto loan issues and their solutions

• Overspending: The ease with which you can buy a car through auto loans tempts some people to go for cars that are very expensive. They fail to see what the future implications of such a step could be and end up being stuck in a situation where the monthly payments they have to pay are higher than their monthly net income. To prevent such pitfalls, always stick to your budget and no matter how lucrative the deal seems to be, stick to a plan in which the monthly payments you have to make do not exceed 20% of your monthly income.
• Research on the current interest rates: Some consumers get auto loans without having a clue about the current interest rates and are not even aware whether the interest rates being offered to them are competitive or not. Prepare yourself well in advance with some knowledge about the prevailing interest rates.
• Review the contract before signing: Looking for an appropriate car loan can take its toll on the borrower to such an extent that he ends up signing the contract without going through it. Such a faux pas could lead to accepting terms and conditions that one is not even aware of. You can thus end up agreeing to get an extended warranty, rustproofing, etc. Such things can escalate your expenditure, so make it a point to crosscheck the contract carefully before signing.
• Pressure tactics: The dealership staff is well trained at pressurizing consumers into accepting their deals and this can be quite baffling at times. The pressure and confusion clouds your thinking and in the rush of the moment, you end up signing the deal despite having second thoughts about it. Always resist such pressure and take your time to understand what you are getting into even if it means walking away at that time and coming back after a few days with a sorted mind.

For more information about auto loans in Central Texas, visit us at Greater Central Texas Federal Credit Union. We are located at 3305 E Elms Road, Killeen, TX 76542. We can also be contacted at 254-690-2274.

Credit unions refer to the member owned cooperatives that provide financial assistance to a specific group of individuals. They are the best choice for those who want to purchase a new or used car as they help you save on a lot of money. The credit union members enjoy added benefits of reduced fees or costs related to the loan application or documentation. It is essential to be a member of the credit union to avail its services and for this you will have to fulfill the requirements of the specific credit union you wish to be a part of.

Financing your new or used car through a credit union could be beneficial in the following ways:

• Availability of money in spite of the prevalent economic condition: Credit unions are extremely reliable for monetary assistance to their members as they always have money, even in times of an economic crisis. During such times, most of the financial institutions make their policies very stringent while giving funds and offer as few loans as possible. On the other hand, credit unions never face such a crunch situation and have healthy relations with most of the car dealers. Lending money is never an issue with the unions. 
• Member oriented: Being member oriented is one such attribute, courtesy which, credit unions score an edge over other financial institutions. If at any point, their member faces any difficulties in repaying the loan, the credit union offers to assist in finding a way of dealing with the problem.
• Competitive rates of interest and terms: Credit unions offer very competitive rates of interest to its members, which help in saving on a substantial amount of money in the long run. Their interest rates are comparatively lower because their main aim is to serve the members as against making profits. The terms and conditions of offering the loans are such that offer maximum convenience to the borrower. The service provided is instant as there is no requirement for approval from unending organizational levels as is in the case of other financial institutions.
• Prompt loans: As soon as you complete the formalities of becoming a member, you are entitled to get a loan from a credit union. This is not the case with other financial institutions, in which there is a waiting period between becoming a member and being able to avail the benefits of membership.

We at Greater Central Texas Federal Credit Union provide you quick and cheap car loans in Texas. For more details, you can visit us at 3305 E Elms Road, Killeen, TX 76542. You can also call us at 254-690-2274.

Once you decide to buy a car, the first question that is likely to pop in your mind is what the best loan option for you is. With a number of institutions offering auto loans, you need to smartly evaluate your options, and ensure that you settle for the best possible deal. For most people, these options boil down to two options- banks and credit unions, and that is where the age-old dilemma begins. If you are confused by this dilemma, and aren't sure which of these institutions is right for you, we will tell you how credit unions are a better option than banks for auto loans.

• Lower rates of interest- The interest rate that you get as a borrower is the prime consideration that needs to be made while applying for an auto loan. Credit unions have always offered favorable interest rates, which are significantly lower when compared to those at banks. Lower interest rates translate into lower monthly payments. This is because credit unions function as non-profit organizations. In fact, along with the low interest rates, credit unions also charge a lower fee for loan applications.
• Utmost customer convenience- A credit union works for the benefit of the community, and being a member of a credit union, you can be assured of getting the best service at each step of your loan application. You are spared from all the red tape and elaborate paper work that goes into applying for an auto loan at a bank. You get to talk to a real person, receive a speedy response, and in case of rejection are offered with a clear explanation of why you cannot receive the loan.
• Shorter loans- By applying for an auto loan at a credit union, you can repay your loan much faster than in case of a conventional bank loan. This is because of the low interest rates, which reduce the total payment that you need to make.
• Not-for-profit model- The not-for-profit model of credit unions works greatly in favor of the borrowers, since it eliminates the possibility of hidden costs and divided profits among shareholders. As a credit union member, you are essentially a shareholder, which means that every little profit to the organization, whether in the form of hidden fees or service charges, will come back to you as lower interest rates.

For cheap auto loans in Central Texas, visit us at Greater Central Texas Federal Credit Union. We are located at 3305 E Elms Road, Killeen, TX 76542. We can also be contacted at 254-690-2274.

When going for a car loan, one of the most important factors to take into consideration is the term of the loan. Going for a short-term loan or a long-term loan is a personal choice that has to be made as per your current financial position. If you are able to pay higher rates of interest over a short period of time, then short term loans are a good option for you. On the other hand, if you earn a fixed income every month and feel you cannot pay huge amounts of interest every month and would prefer to pay smaller installments over a long period, then long term loans are the way to go.

Short-term loans are generally those that stretch from 12 months to 36 months whereas long-term loans are those that go up to 72 months. Nowadays, considering that the prices of cars are escalating due to better technology and durability, it is advisable to go for 72 Month Auto Financing as an economical option. These loans also let you set your hands on some of the most expensive cars in the automobile market as you can easily pay them off without affecting your day-to-day life.

Benefits of opting for 72-month car loans:

• These loans significantly cut down on your monthly payments as they are spread over a long period with low interest rates.
• You can always re-finance such a loan to reduce your costs, as it will cut down on the interest payments you have to make.
• Today’s cars are far more reliable than those of the yesteryears and come with longer warranties than before. This means that even after five to six years, your car will be in great shape even if you are still repaying your car loan. This is a great relaxation for those under the misconception that long-term loans extend beyond a cars useful life.
• Another great advantage of opting for these loans is that you get to buy the car of your dreams without worrying about whether you can afford it or not. The reason for this is the ease with which you can make your payments by installments spread over up to 6 years.

So,  next time if you are confused as to which term length to choose for a car loan, you can safely opt for a long-term one as it is economical and comes along with many more benefits. If you are interested in procuring 72 month auto loan, visit us Greater Central Texas Federal Credit Union. We are located at 3305 E Elms Road, Killeen, TX 76542. You can also call us at 254-690-2274.

Anyone who has ever applied for a car loan knows how confusing and intimidating the terminology used can be. The jargons used by auto financiers are terms they find convenient for putting across their points to the consumer. Most of the consumers find these terms very complicated and fail to understand the working of the auto loan due to which they end up striking deals, the consequences of which they might not be aware of. This is the reason for which anyone intending to get a vehicle financed should at least be aware of what commonly used auto financing jargons mean.

Here is an explanation of common jargons used in the world of auto financing:

1. Annual percentage rate (APR)-  This rate refers to the fixed or variable interest rate at which the lender is prepared to lend the loan amount over a specific period of time. A low APR does not necessarily mean a cheap loan especially if the term of the loan is a long one. A long term of loan will mean you have to pay a higher number of monthly installments, which will lead to more interest.
2. Loan term- This refers to the total period before your loan matures and is usually stated in months ranging from 24 to 84 months at the most. The significance of letting you know the loan term is to give you an idea as to when you are expected to pay off the loan.
3. Down payments- Down payment refers to an initial deposit that you make to your car seller and it is usually in the form of cash, a check, or a trade-in. It has an impact on your loan as the bigger the amount of down payment you make, the smaller your auto loan will be, and the more you will end up saving.
4. Trade-in- This term is used when you trade-in your old vehicle with the seller as a down payment for the new vehicle that you wish to purchase. However, it is subject to the condition as to whether the seller is ready to accept a trade-in or not.
5. Upside down- This term is used to describe a situation in which you owe more on the car you are purchasing than its fair market value. The cause for such a situation is the depreciation a car goes through within the first few months of its usage. The best way to avoid an upside down situation is to deposit a good amount of down payment.

To know more about Auto Financing in Texas, kindly visit us at Greater Central Texas Federal Credit Union at 3305 E Elms Road, Killeen, TX 76542 or call us at 254-690-2274.

Everyone loves buying a new car but very few consider the option of a used car as a smart move. Of course, nothing compares to the feeling of driving a new car out of the showroom, but the moment it is out, it has already depreciated in value. A used car on the other hand holds longer to its value thus giving you much more value for your money. It is an economically viable option as you can get it financed for much less as compared to a new car without compromising on the features and its life.

However, buying a used car can be a tricky choice to make, as you will have to ensure the dealer you are dealing has high credibility. You should also be good at negotiating, as this will help you strike a deal that will be beneficial to you in terms of the cost. When it comes to buying used cars, your assessment of its condition is very important and for this, you should have at least some basic knowledge about vehicles. You may also need to ask your dealer a number of questions to clarify any doubts that you have without any hesitation knowing that it is your right as a buyer,

After you have finally settled for a car, it is important to get it checked thoroughly by a mechanic for any defects. Sometimes, a vehicle might look spic and span from the exteriors, but within, it could be having a host of problems that are difficult for a layman to assess. You should also ask for the vehicles history as such details will give you an insight into who owned the car previously, whether it had an accident or any other problem. If your mechanic passes the vehicle and you have no problem with its history, you will now have to bargain to the best of your ability.

In economic times as unpredictable as today’s, it is a smarter choice to opt for a used car as opposed to a new one in every respect. Car dealers these days stress a lot on the condition of the car and make the most of the latest technology to ensure that a used car looks as good as a new one. For you as a buyer, it is a win win situation as you get the best for a very reasonable amount of money.

We at Greater Central Texas Federal Credit Union provide cheap and quick secured car loans, for used car as well as the new ones. For more details, kindly visit us at 3305 E Elms Road, Killeen, TX 76542 or call us at 254-690-2274.

Credit unions are financial institutions that are formed by a group of people with some similar interests. This group might be of business partners, members of a church, etc. Such a group pools in its assets to form capital that can be lent to members of the union as a loan. Many people prefer credit union loans to loans from regular financial institutions because their interest rates are very competitive, making them a cheaper option in the long-run. Low interest rates are a boon for borrowers especially when it comes to auto loans.

Auto loans from credit unions are very convenient for the borrower due to the following reasons:

• Easy availability of money: Most of the financial institutions make their terms and policies stringent especially when the economic conditions are not favorable and this becomes a major handicap for borrowers. Credit unions do not suffer from such issues as they have enough funds at all times and enjoy good relationships with most of the car dealers making them a reliable source of loans. The process of getting loans from credit unions has been further simplified as you can now get a loan online or even over the phone.
• Flexibility: Credit unions are very flexible when it comes to the terms and conditions for offering loans. It lets the borrower switch from a long-term loan to a short-term loan at his convenience and he can even extend the period of the loan in case of non-payment. You can also negotiate on the interest rates and settle for one that is comfortable for you.
• Lower interest rates: This is probably the biggest advantage of opting for auto loans from credit unions as it cuts down on your expenditure in the long-run. Credit unions are non-profit organizations due to which their main motive is to help those in need of money without focusing on how much they end up gaining. This is the main reason for which auto loans offered by them have very reasonable interest rates as compared to those of other financial institutions.
• Easy membership and perks: The process of becoming a member of a credit union is uncomplicated and once a member, you get additional perks that non-members do not enjoy. Members enjoy a further slash on the interest rates coupled with other offers that make it easier for them to clear their loan.

For more information on how to secure an Auto Loan in Central Texas, visit us at Greater Central Texas Federal Credit Union located at - 3305 E. Elms Rd. Killeen, TX 76542. You can also call us at 254-690-2274.

72 month auto loans come as a welcome option for those who wish to have low monthly installments, and wish to keep the same car for a long period of time. The duration of auto loans ranges from an average of 36 months to as long as 120 months. Even though, most of the Auto Loan companies only provide 60 month auto loans, you can avail a low EMI 72 month auto loan with financial institutions like Greater Central Texas Federal Credit Union. If you aren’t sure about what to expect from a 72-month auto loan, we have put together a list of pros and cons of such a loan, from a buyer’s perspective-

Pros-

• The most obvious advantage of a long-term loan is the low monthly payments. If you have a steady, yet low monthly income, and would not like to spend 2-3 years on a meager income due to loan payments, this option might be the right one for you.
• If you have a strong credit and income that shows well on papers, you might even get low interest rates on a 72-month auto loan, making it a win-win situation for you.
• A 72-month auto loan is ideal when you badly want a dream car but cannot afford it just yet. The long period of repayment might be the price that you’ll have to pay, but it’s eventually worth it, especially considering that your financial condition might improve over the years.
• Another scenario in which such a loan is favorable is when you are buying a vintage car, the value of which will not depreciate over the years.

Cons-

• As the loan is of longer tenure the total interest paid in 72 months would be more in comparison to 2 years or 3 years auto loan.
• It is important to check the terms and conditions of such long tenure loans as you might want to pre-pay the whole loan amount before 72 months.

To procure instant 72 Month Auto Loan in Central Texas, visit us at Greater Central Texas Federal Credit Union. We are located at 3305 E Elms Road, Killeen, TX 76542. You can also call us at 254-690-2274.

Car loans are a great way of getting the car of your dreams regardless of whether you have the cash or not. The only arduous phase in getting such a loan is the preliminary one where you need to do some homework on the financial institutions offering loans and what their terms and conditions are. It is very important to be clear about the fundamentals of a car loan and for this, you might have to ask your lender some crucial questions. Those taking such a loan for the first time might not even be aware of the intricacies of a car loan, and could end up in complications later on.

Anyone opting for a car loan should ask questions relating to the following points:

• Interest rate: You must ask about the rate of interest being offered on the loan to assess what your total costs will be at the end of the loan term. Credit unions are known to offer loans at very competitive interest rates, which make them a cheaper option in the long run.
• Term of the loan: Do inquire about the term of the loan, as a longer term will mean you will have to pay a lower amount of installments each month. On the other hand, a shorter term will require you to pay larger installments, which might become burdensome for some. Information on the term of the loan is very important to help you judge how much you will be comfortable paying each month.
• Down payment: A larger down payment will cut down on your interest charge thus lowering your costs while a smaller down payment will mean a higher interest. It is good to clarify how much the lender expects and what scheme of things will suit you the most.
• Prepayment of the loan: Ask your lender about the terms and conditions related to prepayment of loans. In some cases, the lenders charge a penalty from the borrower for paying back the loan before the stipulated period. Others do not charge penalties but refrain from refunding you any finance charges that you might have incurred.
• Late charges: Ask about the late charges that you will have to incur in case of a delay in the payment of an installment. The late charges are usually a percentage of the unpaid amount regardless of whether you have paid off a partial amount.

For all kinds of auto loans, contact us at Greater Central Texas Federal Credit Union at 3305 E Elms Road Killeen, TX 76542 or give us a ring at 254-690-2274.