If you are looking for easy, fast, and convenient home loan options, then you can turn to a credit union in Killeen, Texas. Unlike banks, credit unions offer more advantages and competitive home loans. If you are an existing credit union member, then you can consider Credit Union’s home loan offers over other alternatives. People are often not aware about the home loan available with the credit unions, as these unions do not advertize much about their products.
What credit Unions are
Credit unions are non-profit banking organizations that work on limited budgets. These unions do not advertize their loan options vigorously; however, that does not mean they do not have much to offer potential borrowers. These lending organizations offer some of the most attractive loan packages. A credit union provides finance options to members only. Unlike other financial organizations that are run by investors and stockholders, members own credit unions and pool in money to finance loans to borrowers. So, their loans are not externally funded. A number of advantages of getting home loans from credit union in Killeen TX are listed below:
- Lower Interests: As the sole motive is to provide financial services to their members, Credit Unions offer low interest rates on home loans. Due to lesser interest rate, borrowers need to pay less monthly mortgage payments.
- Better customer services: In comparison to banks and other financial institutions, credit unions offer personalized and better customer services. They are responsive and helpful when you need more details.
- Quick closings: Credit unions do not require lot of paperwork and bureaucratic formalities. Unlike banks, they offer quick closing of your home loan.
- Qualify with Lower income: If your gross income is not sufficient, even then you can apply or qualify for a home loan from a credit union, as they have set their income requirements quite low. If you are a member of the union, you can avail the loan in spite of your meager salary.
- Better treatment: Being a member of the union, you get a better treatment from the credit union and have a say in important matters and issues, whereas, in banks and other lending institutes, you are just treated like a customer.
We, at Greater Central Texas Federal Credit Union provide quick and cheap home loans in Texas. For more details, you can visit us at 3305 E Elms Road, Killeen, TX 76542. You can also call us at (254) 690-2274.
A car is a necessity in today’s times, whether it is for commuting to the workplace, or going around with family and friends on a weekend. As far as the buying options are concerned, you can get a wide choice in form of new and used cars. Both of them come with their share of advantages and disadvantages.
The kind of car you ultimately buy will depend upon the budget you have. Read on to know about the pros and cons of a used and a new car, and then decide which one is a better fit to your needs.
- Buying a new car definitely has many benefits. Since a new car has not been on the road previously, it will be in a perfect condition, with no scratches on the surface or any other damages. The charm of a new car is definitely something to vouch for.
- With more stress being laid on safety these days, a new car will be equipped with the best of safety systems to ensure that the passengers are safe in situations such as an accident. In addition, new cars come equipped with the latest of gadgets. With a new car, you can also be sure about a highly fuel efficient engine as compared to the one in an old car.
- Financing is also easier when it comes to buying a new car. Lending institutions such as credit unions are more open to giving loans for new vehicles as these have more worth in the market. The higher value of a new car as compared to an old one can be attributed to the fact that it has not been hit by depreciation so far, which is not the case with an old car.
- Coming to used cars, they also offer many advantages. They are relatively low-priced, have low insurance rates, and less prone to be hit by significant depreciation after they have been used for about 2 to 5 years. A used car is also less susceptible to cosmetic damages. Not only this, one can buy a bigger car for the same price if he or she chooses to buy an old one; a new one will definitely mean more expenses.
Greater Central Texas Federal Credit Union offers auto loan at a cheap rates for new as well as used car. The decision to go in for a new or a used car lies totally with the buyer; assess your requirements and decide accordingly.
A 72-month long auto loan is for people who do not wish to think about mileage restrictions or wear and tear damages and are willing to stick to a car for 6-7 years. Before applying for a 72-month auto loan, ensure that you have enough money to make a down payment and that you are credible to pay the monthly installments in time for the period of the loan.
Benefits of 72-month auto financing: -
- Taking a long period loan is useful as it reduces the amount of monthly installments. This helps you to buy an expensive car because you can pay the same as you would have paid for a lesser-priced car with a 24-48 month auto loan.
- It offers convenient and competitive prices for part-time workers, who do not mind driving a car till they own it completely and are in a stable financial condition to pay for a car for 6 years continuously.
- This loan is also very beneficial to people who have a low or a steady income and they are sure that paying for a car for 6 years will not be taxing on their regular finances.
Credit Unions are financial organizations formed by a group of people and managed democratically by its members. They provide credits and competitive interest prices to its members. Credit Unions are usually formed to support community development and help people of one society jointly.
Greater Central Texas Federal Credit Union offers 72-month auto financing to its members and the advantages of getting your can financed from it are numerous. To name a few are:
- Exceptional service – Being a member of the credit union will give you an exceptional service and assistance while financing your car.
- Competitive prices - It provides competitive interest rates and helps the members get the best deal possible.
- Easy Access – It helps you decide how you wish to access you policy and manage it and also provides help in the form of online applications so that you can do everything for the comfort of your home.
For more information, visit Greater Central Texas Federal Credit Union at 3305 E Elms Road, Killeen, TX 76542 or call at (254) 690 - 2274.
If you are looking for a car loan that you can afford on a low income and small savings, your best option is a credit union loan. Being member-run, non-profit organizations, these financial institutions offer a good option for customers looking for a cheap auto loan in Texas. The first thing that you need to do is become a member of a local credit union.
Different credit unions offer different options when it comes to auto loans. Carefully evaluate your options while choosing a credit union, and ensure that the credit union you choose suits your financial requirements from the auto loan. Once you find a credit union in your region with membership criteria that you fulfill, you should discuss with them the various available car loans before applying for its membership.
Credit unions offer 72 month auto financing, which offers the benefit of low monthly payments, which are suitable for low income borrowers. Other benefits that credit union offer to auto loan borrowers are flexible loan terms, low interest rates, and easy approval procedures. The interest rates at credit unions across Texas are significantly lower than the prevailing market rates offered by other financial institutions like banks and private lenders.
The management and organization of credit unions is largely undertaken by their members, which explains why these institutions are more likely to cater to the needs of individual members. You can expect financial aid in the form of flexibility in your loan terms, as well as valuable financial advice when you apply for a loan at a credit union. You can get a cheaper auto loan if you choose to pay a sufficient amount towards the down payment of your loan.
It is also advisable to obtain a report of your credit score before applying for an auto loan at a credit union. This gives you the opportunity of taking measures to improve your credit score. Another measure that you can take to reduce the monthly payments for your auto loan is to choose a car wisely, taking into account your budget.
The Greater Central Texas Federal Credit Union is located in Killeen and provides cheap auto loans to its members. We offer user-friendly car loans at low interest rates and with flexible terms. We ensure personalized services for all our members, providing you with valuable advice to get the best loan to meet your financial situation.
Buying a new vehicle can be an overwhelming experience, especially for a first time car buyer who has no knowledge of the intricacies surrounding this deal. It is advisable to carry out some basic research before taking the plunge into making this vital purchase, since the subsequent financial repercussions can affect you for several years following the deal. Being well-informed not only helps you to make a smart purchase, but can also significantly reduce the rate of interest on your car loan. The following tips guide you on how to get the lowest used or new car loan in Texas:
- Ensure that you are well informed of the prevailing market interest rates, as well as other financial aspects of the purchase, before walking into the dealership. Coming across as a well-informed customer helps you to fare better as far as negotiations are concerned.
- It is also advisable to shop around with various dealers before settling for a deal, since the rates offered can differ significantly. You can find websites that will allow you to carry out this comparison at a single hub.
- Be sure not to merely focus on monthly payments when it comes to discussing the money involved. It is important to look at the bigger picture, and make sure that you are well-aware of the bottom line price of the vehicle.
- While deciding how good a deal is, it is not just the rate of interest being offered that matters, but also the loan term. While comparing different deals, it is a good idea to consider the total amount of money that you will end up paying.
- Having a substantial amount of money to offer as down payment can help you to secure a good deal even with an average credit score. A high down payment means a lower rate of interest, as well as a shorter loan term.
If you are looking for a cheap auto loan in Texas, the Greater Central Texas Federal Credit Union can help you secure the best possible loan based on your financial situation. We are a non-profit organization and are committed to providing financial assistance to our members. Our friendly services, low interest rates, flexible loan terms, and quick loan approval ensure a positive experience for you when you apply for a car loan with us. Contact us today at (254) 690-2274 to learn more about our auto loans in Texas.