If you are ready to make the big purchase of a car, but aren’t sure whether you will be able to pay the loans, a 72-month used car loan is an option worth considering. This loan is particularly useful for those who have a low monthly income, and would not mind a prolonged repayment period. Since it’s a 6-year period that we are talking about, this is not a decision to be plunged into without careful deliberation. It is more important than ever to ensure that you are getting the best possible rate of interest in a 72-month loan, as this will make a big difference to the final amount that you end up paying over the loan’s period.
Benefits-

• Low monthly payments- Since the loan is being distributed over a long period, the result is lower monthly payments, which are likely to be easy for you to keep paying on a low income. The budgeted installments make the eventually higher long-term payment worth it, decreasing the likelihood of overdraft fees.
• Option to generate an income- Over the long period of a 72 Month Auto Financing, you can use the car to run a lucrative business, hence generating enough income to compensate for the extra cost incurred in the loan.
• Refinancing- If the changes in the US prime lending rate are favorable down the lane, you might benefit from refinancing your used car after a few years.

It is thus evident that a 72-month auto loan is a great option for a buyer with a low monthly income, for whom a used car is going to be the major investment over the next few years. The fixed rates of interest on such a loan, when combined with the low monthly installments, take the pressure off the borrowers, helping them to navigate a plan for the future.

Requirements-

• Credit history- Since this loan relies on you being able to make regular payments over a long period of time, a good credit score will work in your favor to get a low rate of interest on such a loan.
• Down payment- It is advisable to make as high a down payment as possible, as not only does this lower your monthly installments, but it also helps in getting a more favorable rate of interest.
• Proof of income- In order to be eligible for a 72-month auto loan, you shall have to submit proof of a regular source of income, so that the lender can be assured of your ability to make the monthly payments in time.

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.

Buying a car is an absolutely exciting and refreshing experience for any individual. But when it comes to getting a loan for the same, you could find yourself in a dilemma over the multitude of auto financing options available in the market. Obviously, you are looking for something that gives you the best in terms of both savings and lower interest rates. So your best bet to get a cheap auto loan is through Greater Central Texas Federal Credit Union.

Located in Killeen TX, this credit union is a non-profit financial organization, formed by a group of members who share a common bond, and belong to the same region. The members here share benefits with one another in the form of low interest rates on loans and similar such schemes.

• Read on to know more about the benefits of a credit union over other conventional ways of procuring auto loans, through banks for instance.
• If you choose a credit union while you hunt for the lowest used car loan, a credit union is the best way to go about it. The primary benefit of doing so is a favorable rate of interest that does not eat too much into your savings. This basically implies that you would be paying a lower EMI. In addition, you will also observe that over a period of time, you ultimately have to pay a lower amount of money as interest.
• Getting a loan through a credit union is also a very convenient option. Once you are a member of the union, getting a loan is a matter of a few simple steps. The entire procedure is secure as well. In addition, you can also be assured of the best customer service. You get a loan for your dream vehicle at very competitive rates. The best part is, a credit union would not charge any additional fees or hidden costs, as is the case with other financial institutions such as banks.
• A credit union also provides you with the flexibility of deciding upon the period for repayment of your auto loan. The lesser the duration in which you repay the amount, lesser would be the overall amount that you would be paying over the entire period. This can be attributed to the low interest that you would be required to pay back to the union.

So if you are looking for an auto loan in Killeen, then definitely go in for Greater Central Texas Federal Credit Union to get the best interest rates, lower EMIs, and a user-friendly experience.