Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

Car Loan Tips

29. April 2017 Administrator Auto Loans (0)



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GCTFCU Blog | Refinancing Your Auto Loan
Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

Refinancing Your Auto Loan

14. September 2017 Administrator Auto Loans (0)
When you refinance your car, the present auto loan is replaced with a new one having an entirely different set of terms and conditions. You need to repay your loan to the new lender within the stipulated time period while keeping your vehicle as collateral. Refinancing your auto loan is a simple and quick process that has many benefits to offer. You have to pay an almost negligible amount as fees to refinance your auto loan.

In order to speed up the process of refinancing your auto loan from a credit union, ensure that you have the documents ready beforehand. All the application forms must be duly filled and it is essential to keep the car loan account number handy. Also, have all the information pertaining to your vehicle such as the car model, year of manufacturing, VIN etc.

The benefits of refinancing your auto loan are:

  • Reduced loan term: If you are looking to pay off your loan faster in short period of time, refinancing your auto loan is the best option available. This can happen if you have some major positive changes in your financial situation. Although this will lead to an increase in the monthly payment, the overall interest rate will come down. This will eventually lead to financial gains and contribute towards your savings.
  • Lowers the monthly payments: If you are finding it difficult to pay the monthly installments for your auto loan, it is good to opt for a refinance. This can happen if you have suffered a financial setback and need to bring down the monthly payments. A refinance will increase your loan term and provide you more time to repay. This extension in the loan period can help you manage your finances in a better manner.
  • Decreases the interest rate: A lower rate of interest is beneficial as it can reduce your total interest charge and help in repaying the auto loan at a faster pace. Therefore, if you think you did not get a competitive rate of interest in the first time, it is probably good to consider refinancing your auto loan.
  • You can own a car previously on lease: In case your car lease is about to expire, it can be easily purchased by using the option of auto loan refinancing. The loan you get from refinancing can be used to buy out the lease and hand over the payments to the lender. The advantage here is that you can own the car at the end of your loan term.
  • Handle your finances easily: Refinancing an auto loan can help you in managing your finances more efficiently. The amount you get from the refinanced auto loan can be utilized for repaying other smaller personal loans. Therefore, you get to pay only a single EMI instead of multiple EMIs that you were paying previously.
For refinancing options in Killeen, TX, get in touch with Greater Central Texas Federal Credit Union. We can be contacted at (254) 690 – 2274.
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GCTFCU Blog | Home Loans In Killeen, TX
Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

Home Loans In Killeen, TX

13. November 2014 Administrator (0)

Owning a house is a dream for most people but it takes a lot of effort to come true as it requires having a lot of cash in hand. Buying a home is one of the most important and biggest investments of one’s life and it can be made easier with home loans. The provision to have home loans makes it possible for anyone to make this dream a reality. Home loans are easy and a quick way to finance your purchase and banks and financial institutions offer home loans to help people buy the required property. Banks usually offer home loans at their own conditions and even require the applicants to collateral something for the loan. They have rigid terms and repayment conditions and they also consider the individual’s credit history before granting a loan which makes the process very difficult.

Credit unions are very popular for getting home loans and are a better alternative to banks. Credit unions are organizations that help their members manage the money. These organizations are non-profit, co-operative in nature and basically work for the benefit of the registered members. The union is run by the members through the process of voting. You can easily open a savings account in your union and apply for a home loan without huge credit checks and conditions. The credit unions offer banking and lending services similar to banks but offer many more benefits and ease in application.

The credit unions offer home loans at low interest rates which can be modified depending on individual circumstances. The credit union offers personalized services and is more concerned about your personal situation as compared to banks. They have a softer approach and their processes are not as rigid as bank procedures. They offer speedier closings and consider your case even if you have had some credit issues in the past. Using credit union is secure and safe as the members assure that their organization is strong and dependable.

We, at Greater Central Texas Federal Credit Union, have been helping people in Killeen, TX since 1957. We offer low interest loans to our members and strive to offer the most reliable services. You can create a checking account and a saving account with us. We offer debit card, credit card and other facilities similar to a bank. You can avail home loan, auto loan and other small loans from us at attractive rates with convenient repayment options. We offer loans at flexible terms and help you save a huge amount of time and effort. To know more please visit us at 3305 E Elms Road Killeen, TX 76542 or call at ( 254 ) 690 - 2274.

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