Credit unions are financial institutions that are formed by a group of people with some similar interests. This group might be of business partners, members of a church, etc. Such a group pools in its assets to form capital that can be lent to members of the union as a loan. Many people prefer credit union loans to loans from regular financial institutions because their interest rates are very competitive, making them a cheaper option in the long-run. Low interest rates are a boon for borrowers especially when it comes to auto loans.

Auto loans from credit unions are very convenient for the borrower due to the following reasons:

• Easy availability of money: Most of the financial institutions make their terms and policies stringent especially when the economic conditions are not favorable and this becomes a major handicap for borrowers. Credit unions do not suffer from such issues as they have enough funds at all times and enjoy good relationships with most of the car dealers making them a reliable source of loans. The process of getting loans from credit unions has been further simplified as you can now get a loan online or even over the phone.
• Flexibility: Credit unions are very flexible when it comes to the terms and conditions for offering loans. It lets the borrower switch from a long-term loan to a short-term loan at his convenience and he can even extend the period of the loan in case of non-payment. You can also negotiate on the interest rates and settle for one that is comfortable for you.
• Lower interest rates: This is probably the biggest advantage of opting for auto loans from credit unions as it cuts down on your expenditure in the long-run. Credit unions are non-profit organizations due to which their main motive is to help those in need of money without focusing on how much they end up gaining. This is the main reason for which auto loans offered by them have very reasonable interest rates as compared to those of other financial institutions.
• Easy membership and perks: The process of becoming a member of a credit union is uncomplicated and once a member, you get additional perks that non-members do not enjoy. Members enjoy a further slash on the interest rates coupled with other offers that make it easier for them to clear their loan.

For more information on how to secure an Auto Loan in Central Texas, visit us at Greater Central Texas Federal Credit Union located at - 3305 E. Elms Rd. Killeen, TX 76542. You can also call us at 254-690-2274.

The Greater Central Texas Federal Credit Union is a Killeen based financial institution that helps provide cheap auto loans to those who wish to invest in a new vehicle. As cars these days can turn out to be quite expensive, we provide low interest auto loans that can help finance your vehicle to a significant extent. We offer different kinds of interest rates on our auto loans depending on your credit ratings and your loan history. If you have exercised good borrowing practices and repaid your existing loans in a timely manner along with the accumulated interest rates, you will be granted a loan by us in a matter of a few hours. The interest rates enjoyed by those who have a good credit history also tend to be much lower than those who have defaulted in their past loans.

We do not follow lengthy and complicated application procedures that can be quite a turn off for potential borrowers. On the other hand, we have a very simple screening process that you can even choose to complete online by logging onto our official website. A few necessary documents as prescribed by USA Patriot Act 2000 may be necessary so that we can positively establish your identity. The necessary documents can be mailed or faxed to the address provided on our website. We follow a set of pre defined parameters to determine the rate of interest that we are going to charge for each kind of auto loan depending on the price of the vehicle you wish to buy and the financial information provided by you. This is done in order to assess your ability to repay the auto loan that is being taken.

We also have special offers that allow you to avail discounts depending on the kind of credit card you hold. Master card and visa card owners can enjoy hefty discounts in auto loans as well as in other kinds of loans being offered by us. You can either apply for a secured or an unsecured loan depending on your particular needs.

For more details on auto loans in all credit situations, visit us at Greater Central Texas Federal Credit Union, 3305 E Elms Road, Killeen, TX 76542. You can also call us at 254-690-2274.

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