Everyone dreams of owning a car and being able to experience the independence that comes with it. So if you have finally decided that it’s time to make this dream come true and are all set to make the great purchase, you should take the next step after picking the right car loan. Even though almost all car loans seem similar to the layman, but when you dig deeper, you realize that there is a huge difference between car loans, and in some cases, these can add up to thousands of dollars in the long run.

The guidelines below help you with some useful tips for getting a cheap car loan-

• Credit union auto loans- The financial institution that you choose for your car loan can make the biggest difference in the amount you end up paying in the long run. Credit unions have been proved to be a lot cheaper than banks, when it comes to auto loans. So the first step to getting a cheap car loan would be to join a credit union if you aren’t already the member of one. These not-for-profit organizations function by giving back money to their members on cheaper interest rates and lower monthly payments.
• Evaluate your credit report- By using a free online service available to all US consumers, you can evaluate your credit report beforehand to be sure of what to expect and to have a clearer and more realistic perspective of what your options are.
• Decide your budget- A mistake that most buyers make is leaving the most important decision of which car to buy and how much to spend on it for the last moment. This often leads to overspending.  Hence you end up with larger monthly payments than you can afford.
• Look at the complete picture- Make sure that when you are finally negotiating an auto loan, you look beyond what’s being shown to you. At times, what might look great on paper can actually be a bad deal in the long run. Make sure that you do not end up paying more than the car’s actual worth. It is also wise to look carefully at other terms of the law, such as prepayment penalties.

For more tips, visit us at Greater Central Texas Federal Credit Union at 3305 E Elms Road, Killeen, TX 76542. You can also call us at 254-690-2274.

Buying a car is one of the costliest purchases most people make in their lifetime, which is why it is important to ensure that you thoroughly understand the process of car financing before taking the plunge. Unless you are one of those rare buyers who can afford to pay the entire price of the car upfront, you will probably have to consider all the financing options before you pick one. Credit unions have emerged as a popular option for auto loans, principally because of the significantly low interest rates that they offer. Here, we shall be discussing how car financing from a typical credit union works.

1. The first step, of course, is to become a member of a credit union, if you aren’t one already. This is important because most credit unions offer auto loans only to their members. In fact, this is how they are able to function as non-profit organizations, and give back to their members in the form of low interest rates. Be sure to take a look at the type of loans offered by the credit union you are considering before becoming a member.
2. Once you have secured a membership with a credit union in your area, it is a good idea to take a look at their specific requirements for auto loans, and make sure you have all the documentation required for the loan application process. The paperwork is more or less the same as it would be at a typical bank, the only difference being that you can expect much better assistance and customer care at a credit union. It is a good idea to obtain your credit score and fix and discrepancies that might be present in your record before submitting your application.
3. With the first two essential steps of your auto financing taken care of, you now need to make the critical decision of which car you wish to buy. It is advisable to decide on the budget beforehand, so as to narrow down your choices of cars you can actually afford. You also need to decide whether you will buy a new car or a used one.
4. Finally, you need to decide on the amount of down payment that you shall be making, and the loan period that you desire, both of which shall determine your monthly payments.

We at Greater Central Texas Federal Credit Union provide you quick and cheap car financing 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.

Are you wondering how to buy the car of your dream? Getting yourself a secured car loan is your best bet. It is a loan that you can avail by surrendering collateral which you can regain once you have paid back the loan with interest. Every year thousands of people apply for a secured car loan. It is uncomplicated and has many advantages for the borrower. In most of the cases, the car itself is the security. The lender considers the car as the security against the loan. He acquires the car in case the loan is not paid. But sometimes, the lender may ask security of a higher value. In such cases any financial asset such as house, another vehicle or jewelry can be used as collateral. There are three fundamental requirements to get a secured car loan. You should have regular monthly income and you should be able to prove it using bank slip or any other document. Lenders prefer to lend loan to people who are employed somewhere than to self-employed. Also, if you live in a rented apartment you should have proof that to have lived there for at least 12 months.

One of the biggest advantages of getting a secured loan is that the interest is low and the tenure to return the loan can be longer. Since lenders have the security of the collateral the terms are flexible. The borrower can enjoy easy payment of installments, which allows the borrower to plan his or her savings. The lenders are interested in getting their monthly installments on time. As long as you are able to prove that you have a regular income you can get a secured loan regardless of which income group you fall in. Borrowers of secured loan who are asked to surrender their house as collateral often can benefit from tax-deductions. In such a case, the monthly installment is deducted from the tax that one would otherwise pay. Another advantage about secured loan is that it allows a cordial relationship between the lender and the borrower because of the security of collateral. The lenders are not skeptical about getting their installments and they sometimes can even go easy on delay in payment of installment.
 
In these tough economic times choosing secured car loan is the most hassle-free option.

Everyone dreams of owning a car that they can proudly say has been bought from their hard-earned money. But you might feel the burden on your pocket since the car prices are high and the economy hasn’t yet stabilized. However, high prices should not dissuade you from buying a car for yourself. A good knowledge about car financing can go a long way in helping you decide which car can be bought within your budget.

Read on to know what are the dos and don’ts of car financing.
Basically, car financing means getting a loan from a bank, a credit union or any other source in order to buy a car. This way you can easily buy a car that you desire. The problem of limited budget can also be resolved with car financing.

1. Firstly, one must conduct a thorough research on the amount of money that needs to be borrowed. Prior research helps in determining whether a certain dealer is levying extra charges by means of additional costs and hidden interest rates. This groundwork needs to be done properly so that you get the best car financing deal.
2. Compare and contrast the financing terms of the various auto loan options available. This comparison can be done online by making use of an auto loan calculator. Have concrete information about the current interest rates and get a number of loan options in hand so that you can take a print out and go to a dealership authoritatively.
3. Never ever cross your budget limits. Always pre-decide on how much you can easily afford and then only go in for car financing. After all, it is you who has to return the money.
4. You must have a complete look at the manufacturer’s website in order to know what all factory incentives are available. If a financing deal does not suit your budget requirements, don’t hesitate to decline the offer.
5. Credit Unions offer one of the best car loan options. You need to become a member in order to be eligible for a credit union loan. The advantage here is that these unions are owned by their members and work on a no profit basis. They offer low interest rates and better financing terms. This in turn means your loan is going to be for a shorter period.
6. There is no need to go in for financing options for add-ons, extended warranties and rust protection etc. Most of the new cars are available inclusive of all these additions.
7. Don’t get attracted only to a specific model as the dealer might offer you a high price and high interest rate. Keep 2-3 options in mind before going in for car financing.

Keeping the above points in mind will definitely help you get the best car financing deal.

There are two steps to bring home the car of your dreams- first, finalizing the car that you want to buy and second, choosing the right loan lender. Even though deciding on the former could take a while (boiling down to one that is affordable and what you desire), choosing the latter is definitely tricky. There are various loan lending institutes and to decide upon one is quite a challenge.  Let us explore one of the most suited options.

Taking car loan from a credit union may prove to be most pocket friendly option for you. Credit unions are non-profitable finance organizations. They surely do make profits in order to run their management but their policies are not high on making money from the customers. They are, thus, able to provide loans at fairly low rates of interest, especially when compared to other traditional lending organizations. Most loan consultants will suggest you to make a large down payment. This helps in cutting down the rate of interest that you will be paying regularly. But for those who do not have access to hefty accumulated cash, the only option is to find a car loan lender who offers competitive rates.

Credit unions have hassle-free formalities and the loan gets cleared in as short a period as one day. They are community-friendly and provide great customer services. You get to talk to an agent who will explain all the car loan programs so you can make an informed decision. For example, if you are willing to pay high monthly installments against the loan taken, you may choose a short period loan. They have no hidden charges.

Credit unions often have close associations with local car dealers. Some of the best car deals provided by car dealers are exclusively offered to the credit union they are associated with. Try to find out about any such deals before making your purchase. Being non-profit entities, credit unions lack sufficient funds for marketing and advertising to create awareness about advantages of taking loans from credit unions. Therefore, you may need to research about the credit unions near you and the rates at which they are providing loans. You can find them through online advertisements or by enquiring from car dealers.

Legitimacy of a credit union can be checked on NCUA (National Credit Union Association) website. NCUA is a government body that guards all credit unions balancers. 

For more tips, kindly visit us at Greater Central Texas Federal Credit Union.  We are located at 3305 E Elms Road, Killeen, TX 76542 or call us at 254-690-2274.

The thought of buying a new car can be very enticing, especially if it’s your first car. But before buying a car, you must bear certain important factors in mind. You cannot just go ahead and buy a car instantly. The car you ultimately go in for has to fit within your budget and suit your tastes. Read on to know certain dos and don’ts that you must be aware of before buying a car for yourself. At the end of the day, it is your hard-earned money that you are going to invest, so you have to make sure that it is spent in the best way.

• Firstly, you must research about the various options available in the market. You should have knowledge about the accessories as well, since they can add up to a significant cost in the end. This research will help you get the best possible price for your car.
• Do not go in for a luxury car if your budget does not allow you to do so. You should try not to get a loan spanning more than four years. Also, you must keep your monthly payment less than 10 percent of your income.
•  Remember to keep in mind the fuel costs and maintenance charges. Only if you can afford these, you should go in for a particular car that you desire.
• Get in touch with your insurance agent to get an idea on the interest rates beforehand.
• Do a thorough research on the auto loan options online and compare financing terms using an auto loan calculator. Take a print out and carry these documents whenever you make a visit to the car dealer.
• Also make sure to check your credit rating in advance. This will help you deal better later on. 
• Don’t fall flat for a vehicle while ignoring other options. Look for various models and then only choose the one that fits your bill.
• You should also know the incentives being offered by the car dealer. Therefore, researching on the Internet beforehand about these things can help you prepare in a better manner before you go out to buy a car.

These are some of the simple dos and don’ts which if kept in mind can definitely help you grab a better car deal that is light on your pocket and good for your taste! Make sure you take care of these things whenever you think of buying a new car and you will definitely be better prepared.

Choosing the perfect car for yourself can be one of the most exciting things to do. The car you ultimately buy has to be in sync with your taste and requirements. But before buying a car you need to take care of certain parameters so that things go exactly the way you want. Considering certain factors well in time can help you get your hands on the best car that suits your needs. The vehicle should provide you utmost benefits and prove that it’s worth the money spent. Read on to know some of the best car buying tips that will definitely help you in the overall purchase process.

• Firstly, you should try and opt for a new car if your budget allows you to do so. A brand new car is a better option for many reasons. Not only you will get the latest vehicle technology, you also don’t have to deal with issues or damages from previous owners. Moreover, the new warranties are far more comprehensive. You can also customize the car according to your own preference. Most importantly, the latest cars offer gas-efficient models, which is very beneficial in the longer run.
• The second most important thing is cash consideration. Even though you might be able to afford the new car that you are going to buy, you can’t arrange all the money in one go. This is where auto loans come in handy. These loans are also available on used cars.

1. You should consider your credit score and loan limit before going in for an auto loan.
2. Check the amount that you can afford for the down payment and only then finalize the auto loan.
3. The duration and interest rates on the loans are equally important variables that need to be considered.
4. If the overall cost of the vehicle seems to be too much for you, it’s better to look out for some budget-friendly cars.

•  You should do extensive research before buying a new car. There are a number of good forums on the Web that have people discussing about the latest designs and technologies integrated in the new cars. This will definitely help you choose a better car. Nowadays, dealership companies have a separate section on their websites where they provide an overview of all the new cars. You can read it thoroughly and take your decision accordingly. Searching online can prove to be fruitful as it saves a lot of time and can help you find your dream car at affordable rates.

Just keep a few tips in mind and the car of your dreams will turn into reality!

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.

If you are looking for auto loans for a short-term period at competitive interest rates, then approaching a credit union could be your best bet. For those who are new to the concept of credit unions as financial institutions for borrowing money, it is important to know that these are formed by a group of people with some common link such as members of a church, business, etc. The members pool in their assets for the purpose of providing loans to any one of the members who need the money. Credit unions are becoming a favorite among those willing to buy cars on the basis of a loan as they are very convenient and pocket friendly.

Here are some of the top reasons due to which getting an auto loan from a credit union is a smarter choice today:

• Personalized attention: Credit unions being smaller organizations than other financial institutions offer faster services to their members and even accommodate minor changes in the scheme of repayment.  There is always some scope for a member to negotiate on the rate of interest and even to get some extra time for the repayment.
• Easy availability of car loans: Fluctuations in the economic status have made financial institutions quite aggressive when it comes to offering money for loans. However, credit unions are far more relaxed when it comes to giving auto loans to their members and are not affected by the economic conditions as they always have a good amount of funds and enjoy good relations with car dealers.
• Competitive rates of interest and relaxed terms and conditions: It is a well-known fact that the rates of interest offered by credit unions on auto loans are lesser than that of other financial institutions. These institutions are also flexible when it comes to their terms and conditions, as they are sensitive to any problems that their members could be facing in repaying the loan.
• Simple loan process: Getting an auto loan from a credit union is very simple and no longer requires a member to sit down with a loan officer to complete the formalities. You can apply for the loan at a participating dealership, over the phone and even online as per your convenience.
• Perks: Members of credit unions enjoy perks that other customers do not have access to such as low interest rates and special deals.

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.

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.

• Lower Interests: As the sole motive is to provide financial services to their members, Credit Unions offer low interest rates on home loans. Due to lesser interest rate, borrowers need to pay less monthly mortgage payments.
• Better customer services: In comparison to banks and other financial institutions, credit unions offer personalized and better customer services. They are responsive and helpful when you need more details.
• Quick closings: Credit unions do not require lot of paperwork and bureaucratic formalities. Unlike banks, they offer quick closing of your home loan.
• Qualify with Lower income: If your gross income is not sufficient, even then you can apply or qualify for a home loan from a credit union, as they have set their income requirements quite low. If you are a member of the union, you can avail the loan in spite of your meager salary.
• Better treatment: Being a member of the union, you get a better treatment from the credit union and have a say in important matters and issues, whereas, in banks and other lending institutes, you are just treated like a customer.

We, at Greater Central Texas Federal Credit Union provide quick and cheap home 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.

A car is a necessity in today’s times, whether it is for commuting to the workplace, or going around with family and friends on a weekend. As far as the buying options are concerned, you can get a wide choice in form of new and used cars. Both of them come with their share of advantages and disadvantages.

The kind of car you ultimately buy will depend upon the budget you have. Read on to know about the pros and cons of a used and a new car, and then decide which one is a better fit to your needs.

• Buying a new car definitely has many benefits. Since a new car has not been on the road previously, it will be in a perfect condition, with no scratches on the surface or any other damages. The charm of a new car is definitely something to vouch for.
• With more stress being laid on safety these days, a new car will be equipped with the best of safety systems to ensure that the passengers are safe in situations such as an accident. In addition, new cars come equipped with the latest of gadgets. With a new car, you can also be sure about a highly fuel efficient engine as compared to the one in an old car.
• Financing is also easier when it comes to buying a new car. Lending institutions such as credit unions are more open to giving loans for new vehicles as these have more worth in the market. The higher value of a new car as compared to an old one can be attributed to the fact that it has not been hit by depreciation so far, which is not the case with an old car.
• Coming to used cars, they also offer many advantages. They are relatively low-priced, have low insurance rates, and less prone to be hit by significant depreciation after they have been used for about 2 to 5 years. A used car is also less susceptible to cosmetic damages. Not only this, one can buy a bigger car for the same price if he or she chooses to buy an old one; a new one will definitely mean more expenses.

Greater Central Texas Federal Credit Union offers auto loan at a cheap rates for new as well as used car. The decision to go in for a new or a used car lies totally with the buyer; assess your requirements and decide accordingly.

A 72-month long auto loan is for people who do not wish to think about mileage restrictions or wear and tear damages and are willing to stick to a car for 6-7 years. Before applying for a 72-month auto loan, ensure that you have enough money to make a down payment and that you are credible to pay the monthly installments in time for the period of the loan.

Benefits of 72-month auto financing: -

• Taking a long period loan is useful as it reduces the amount of monthly installments. This helps you to buy an expensive car because you can pay the same as you would have paid for a lesser-priced car with a 24-48 month auto loan.
• It offers convenient and competitive prices for part-time workers, who do not mind driving a car till they own it completely and are in a stable financial condition to pay for a car for 6 years continuously.
• This loan is also very beneficial to people who have a low or a steady income and they are sure that paying for a car for 6 years will not be taxing on their regular finances.

Credit Unions are financial organizations formed by a group of people and managed democratically by its members. They provide credits and competitive interest prices to its members. Credit Unions are usually formed to support community development and help people of one society jointly.

Greater Central Texas Federal Credit Union offers 72-month auto financing to its members and the advantages of getting your can financed from it are numerous. To name a few are:

• Exceptional service – Being a member of the credit union will give you an exceptional service and assistance while financing your car.
• Competitive prices - It provides competitive interest rates and helps the members get the best deal possible.
• Easy Access – It helps you decide how you wish to access you policy and manage it and also provides help in the form of online applications so that you can do everything for the comfort of your home.

For more information, visit Greater Central Texas Federal Credit Union at 3305 E Elms Road, Killeen, TX 76542 or call at (254) 690 - 2274.

If you are looking for a car loan that you can afford on a low income and small savings, your best option is a credit union loan. Being member-run, non-profit organizations, these financial institutions offer a good option for customers looking for a cheap auto loan in Texas. The first thing that you need to do is become a member of a local credit union.

Different credit unions offer different options when it comes to auto loans. Carefully evaluate your options while choosing a credit union, and ensure that the credit union you choose suits your financial requirements from the auto loan. Once you find a credit union in your region with membership criteria that you fulfill, you should discuss with them the various available car loans before applying for its membership.

Credit unions offer 72 month auto financing, which offers the benefit of low monthly payments, which are suitable for low income borrowers. Other benefits that credit union offer to auto loan borrowers are flexible loan terms, low interest rates, and easy approval procedures. The interest rates at credit unions across Texas are significantly lower than the prevailing market rates offered by other financial institutions like banks and private lenders.

The management and organization of credit unions is largely undertaken by their members, which explains why these institutions are more likely to cater to the needs of individual members. You can expect financial aid in the form of flexibility in your loan terms, as well as valuable financial advice when you apply for a loan at a credit union. You can get a cheaper auto loan if you choose to pay a sufficient amount towards the down payment of your loan.

It is also advisable to obtain a report of your credit score before applying for an auto loan at a credit union. This gives you the opportunity of taking measures to improve your credit score. Another measure that you can take to reduce the monthly payments for your auto loan is to choose a car wisely, taking into account your budget.

The Greater Central Texas Federal Credit Union is located in Killeen and provides cheap auto loans to its members. We offer user-friendly car loans at low interest rates and with flexible terms. We ensure personalized services for all our members, providing you with valuable advice to get the best loan to meet your financial s