• Get a pre-approval: A pre-approved loan will let you know the type of home you can afford to buy. It also assures the seller that you are a responsible buyer and genuinely interested in buying the property. The lender will assess your total income, debts and other financial liabilities to evaluate the loan amount you can be pre-approved for. Once the amount is known, you can go about scanning for a suitable home in Killeen that suits your requirements.

• Keep all documents ready: All the important financial documents like bank statements, employment letter, salary proofs, home insurance, tax returns etc. must be kept ready. These may be reviewed by your loan officer to assess your borrowing ability and submit the application.

• Understand loan type: One must decide if he needs a fixed rate mortgage (interest rate stays the same during the entire tenure of the loan) or flexible mortgage rate (interest rate fluctuates according to the market trends). This choice may depend on your current and future financial condition.

• Closing the loan: Once all the paper work is done with the credit union, the next step is to go through the terms and conditions of the loan plan all over again. You may need to submit a copy of the property documents and a few postdated checks to close the deal.

Getting a car loan that fits into your monthly budget with favorable loan terms could be a cumbersome task in the present financial scenario. However, credit unions offer much relief in these conditions, as these financial institutions function on a not-for-profit model, making them user-friendly for car loans. If you are considering getting a secured auto loan from a credit union, here’s a look at why this is a great idea-

• A key reason to opt for credit unions for car loans is the favorable interest rates offered at these institutions. All the earnings that are made through interest by credit unions are returned back to the members in the form of low interest rates. Low interest rates on car loans translates into lower monthly payments, a shorter loan period, and hence an overall cheap auto loan.
• Applying for a car loan at a credit union is a convenient and customer-friendly process. Not only are the fees involved a lot lower than what one would expect to pay at a bank or a car dealership, but the overall process is also a lot less time-consuming. It is simply a matter of sitting with a financial agent and having your paperwork evaluated, after which the loan is usually approved on the same day. In most cases, the process is further simplified by enabling carrying out all the proceedings online or over the phone.
• Even if for any reason your loan does not get approved the first time, you can expect to get some great financial advice on how you can strengthen your personal case, and what you can do to get approved the next time you apply. This level of personal concern is something that one can only expect at a credit union, owing to the relatively low number of members.
• The fact that a credit union is committed to serving its local community means that you can expect a lot more support from a credit union in the event that you face difficulty in repaying your loan, than you would at say, a bank.
• The regular member perks offered by credit unions can go a long way in making the terms of your car loan more favorable to you. It is a good idea to ask the officials at your credit union if any such perks are around the corner, before applying for your loan.

To avail cheap and quick car loan in Killeen TX, kindly visit us at Greater Central Texas Federal Credit Union. We have amazing deals on auto loans for our customers. We are located at 3305 E Elms Road, Killeen, TX 76542. You can also call us at 254-690-2274.

Greater Central Texas Federal Credit Union is a Killeen-based credit union offering user-friendly auto loans with flexible loan terms and affordable interest rates. If you are looking for a secured car loan in Texas, we can help you get one with our quick loan processing and easy approval. Such a loan is taken against collateral, which is usually the car itself, but could also be some other asset such as your house, boat, property, etc. The basic requirements of such a loan are a verifiable source of income, steady employment, and long-term residence.

The major advantage of getting a secured auto loan from our credit union is that we make it possible for you to pay smaller amounts over a longer period, which is a key benefit for those with limited savings or a low income. We offer a high degree of flexibility in terms of payments, as well as other aspects of secured car loans. This gives you better control over your loan, and how you can pay it back. 
In addition to this, there are also greater chances of approval when you opt for a secured auto loan, since we have lower income requirements for secured car loans. This makes such a loan an ideal option for you if you have a significant income that does not show well on paper. Being a member-run, non-profit organization, our interest rates on auto loans are much lower than the average interest rates in the market. The end result is more dollars in your pocket by the end of the loan term, and a hassle-free experience all through.

We offer secured car loans on used as well as new cars. Our friendly and highly knowledgeable staff will guide you through the process of getting approved for a secured auto loan, while also providing you with valuable guidance regarding the best loan option for you. Ever since our establishment in 1957, we have gone on to become one of the most trusted credit unions in Texas. By opting for our secured car loan, you can be sure of getting the best possible deal, since we do not charge any hidden fees or additional costs. We further add to your convenience by offering easy online access, using which you can log on to make loan payments. Call us today at(254) 690-2274 to apply for the lowest secured car loan in Killeen, TX.