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.

• Period of job: In order to get a quick approval for the loan, you must have spent at least one year in your present job. However, if you did not stick to a job for a year, a credit union may check for at least three years of uninterrupted employment. At the most, you should have changed only 2-3 employers within this period.
• Down payment: If you are applying for a low income auto loan, you will be required to pay some form of down payment to the lender. In case you don’t have any money at your disposal, you may inquire from your lending organization about the alternatives they can offer.
• Credit profile: If you have a higher credit score or a longer credit profile, you can get a better rate of interest for a low income car finance program.
• Duration of the loan: You can get your loan approved at a faster pace if you choose to repay within a shorter period of time. However, loans with shorter durations usually entail higher monthly premiums.
• Debt to income ratio (DTI): Most of the lenders prefer a maximum DTI ratio between 40 to 50 percent. To calculate your DTI ratio, add up all your bills and divide the total amount by your monthly pre-tax income.
• Payment to income ratio (PTI): For approving a low income auto loan, most lenders prefer a PTI ratio between 15 and 20 percent. In order to compute the PTI ratio, divide your new car payment by your pre-tax income.
• Co-signer: There are a few lenders who approve convenient interest rates for low income auto loans in case you get a co-signer and have a good credit rating.
  

There are many options for obtaining auto loans for those who wish to purchase a vehicle in the state of Texas. Texas has a well developed banking system that provides competitive interest rates to car buyers along with reasonable terms and conditions. The only requirement for qualifying for a loan in this state is to have a sound credit rating. It can get quite difficult to obtain a loan if you have a negative credit history. Thus the first thing that should be done in this case is to go about improving your credit ratings so that you qualify for auto loans in the state of Texas.

There are several things that can be done in order to improve your credit like repaying existing loans in a timely manner, not taking loans for an amount that you will be unable to repay, asking a person to stand in as surety, etc. There are credit counseling services provided by many experienced companies in Texas that can guide you regarding the best methods to improve credit in a short time period.

The kind of car that you are purchasing can also have a direct bearing on whether you are granted a loan by the lending institution or not. If you have a great credit rating, you can choose an expensive new car and still obtain approval from a bank for your auto loan. However, in case your credit is bad, you may have to settle for a second hand or a low priced car in order to qualify for a loan.

Before going ahead with an auto loan, you should conduct an online survey in order to find out the prevailing auto loan rates in Texas. This figure should then be compared to the actual rates being offered to you by banks in the area. You will also need to have a fair idea about the amount of down payment you may have to provide in order to obtain the auto loan successfully. In most cases, the down payment tends to be around twenty percent provided you have a reasonable credit rating in the state. It may increase if you have low ratings.

For Lowest Used Car Loan interest rates in Texas, visit Greater Central Texas Federal Credit Union.

Lowest Used Car Loan - Secured Auto Loan

One of the most perplexing decisions that any car buyer is faced with at the beginning of his purchase, is whether to opt for a new car or a used one. While some people are very sure about which way they want to go, the following compilation of the pros of going either side should help the rest of you decide-

Pros of buying a new car-

• One of the major advantages of buying a new car is that you can get exactly what you want, custom-made to meet your needs. This saves a lot of time, along with ensuring optimal satisfaction for you as a buyer.
• Another obvious advantage is that you do not have to worry about where the car you are driving has been, or who owned it before you did. You are the first driver, and you decide how you wish to keep it.
• The warranty that you get with a new car is also an advantage, since it comes with the car and you do not have to pay extra for it.
• Chances of getting better financing rates with a new car are high, since the car has not yet depreciated, and hence inherently costs more.
• A new car is likely to be equipped with the latest gizmos, safety measures, and mechanical advances. This means better efficiency, increased safety, lower emissions, and a generally more pleasant driving experience.

Pros of buying used-

• The biggest advantage of choosing to buy a used car is the cost saving involved. Not only is the overall price of the car a lot lower than its new counterpart, but you can also easily get a cheap auto loan on a used car
• A used car also offers the advantage of undergoing minimal depreciation. While this might sound counterintuitive, it is true, since all cars undergo maximum depreciation in the first few years, losing as high as 40% of their value in the first year. 
• Chances of getting low insurance rates on used cars are high. All that you need to do is shop around and stay away from insurance sticker shock. 
• Used cars offer a wider range of financing options, and with some amount of research, you should be able to get a great deal on the lowest used car loan in your area. 
• Finally, choosing to buy a used car increases the options that fall within your budget greatly, making it possible to consider buying a dream car that you otherwise wouldn’t have been able to afford.