Financing your next car through a credit union is a great option if you are looking for a cheap auto loan. With more than 7,700 credit unions across America, credit unions are the financial institutions of choice for car buyers, thanks to the favorable loan terms and low interest rates offered by these lenders.

Greater Central Texas Federal Credit Union (GCTFCU) is a credit union based in Texas, which has been serving Texans since its establishment in 1957. The great thing about getting a credit union auto loan is that these institutions are owned by the members, making them not-for-profit organizations.

All the proceedings that are earned by way of interest are returned back to the members in the form of low-interest rates. GCTFCU does not charge any monthly service charges from its members, and has no minimum balance required for membership. If you are looking for the lowest used car loan in Texas this could be just what you need, with interest rates on used cars being as low as 5.99%. This credit union offers competitive interest rates on new cars as well, with interest rates averaging around 3.99%.

While the process followed to obtain a car loan from this credit union and a bank is very similar, the major advantage that the former offers is being community-oriented. This means that if for any reason you are unable to make a payment at some point during the loan period, you can expect the credit union to work with you to find a way around it, which is contrary to the rigid approach followed by banks. For instance, GCTFCU offers a “skip-a-payment” option to its members, whereby they can skip a single loan payment in case of a rough financial patch.

In addition to getting a cheap auto loan with flexible terms, being a member of GCTFCU also comes with several added advantages. These include payroll deduction, direct deposit, ATM, wire transfer, online access, MasterCard cash advance, notary service, etc. We also make an effort to help you in achieving your financial goals through a variety of easy saving and investment options. Choosing to get a used or new auto loan from us puts you at the advantage of having pre-approval for the loan, flexible terms (48-72 months), the option of refinancing, and competitive interest rates.

A car is no more just a four-wheeled automobile but has become an owner’s passion and a source of great admiration. Though a majority of Americans own a car today, there are still people, especially the middle-income earners, who are unable to afford one. This is mainly because of two reasons- either their dream car is too expensive or they have less savings. But luckily, with the help of auto loans they can easily realize their dream and can own a brand new or a second hand car.

Auto loans are offered in different terms:

• On a short-term basis: In this case, a borrower is required to pay within a set amount of time, depending on the loan providing institution. This time period usually ranges from 2 to 5 years. The borrower will be paying the monthly installments along with the pre-decided rate of interest.
• On a long-term basis: In this case, the borrower usually pays a smaller amount of monthly payment as compared to short-term basis. But this proves to be much costlier in the overall amount. You end up paying more interests in the long-term loans.

Also important is to decide whether to opt for a secured or unsecured car loan. If you are willing to provide some security/collateral to obtain the car loan, then you can go for the secured car loans. The collateral may be anything of equal or greater value than the loan amount, for instance, your car, home or any other valuable.  And if you do not wish to keep collateral, you can opt for unsecured car loans.

We at Greater Central Texas Federal Credit Union provide you quick and cheapest car loans in Central Texas. Unlike banks and other financial institutions, we neither harass you by asking unnecessary questions nor make you wait for several days to sanction your auto loan. No matter which vehicle you want to buy - a car, truck, van etc, we provide cheapest auto loans for all vehicles (both new and used). All you need to do is fill in your details in the used auto loans application form. We will get back to you in 24 hours and provide you cheap auto loans.

To know more about auto loans or for any other related query, kindly visit us at Greater Central Texas Federal Credit Union 3305 E Elms Road, Killeen, TX 76542. You can also call us at 254-690-2274.

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