If you are among the thousands of Americans procrastinating their financial obligations everyday due to a shortage of time, going online could be the solution you are looking for. Greater Central Texas Federal Credit Union, located on Elms Road, Killeen, has been serving the Central Texas community since 1957. With more than five decades of experience in providing high-quality financial services to our members, we are one of the most trusted credit unions in the region. We provide a host of online services with an aim to grant convenience to our members and help to save time and resources.

Whether you are looking for a cheap auto loan or a lucrative investment option, our online services will help make things quicker and easier for you. All that you need to do is click on the ONLINE ACCESS link on our website, and you shall be all set to get access your account online. Our highly secure login system ensures that your details remain protected while you use the online services. Using this system, you can enjoy round-the-clock access to your account, from anywhere across the world. The sign up process takes as less as a minute. You can contact one of our tellers right away to know more about how this online system works and all the services that you are eligible for.

Our members who sign up for our online services can pay their bills online simply by clicking on the “Quick Pay” world online. This method is absolutely safe and protected, and spares you the convenience of having to visit our office to pay your bill. We charge a nominal monthly fee of $5 for the online billing service. However, this service is free for members above the age of 55. In addition to paying your bills online, you can also make your Mastercard payment online without any hassle. You can call card services at 800-442-4757 or click on the ‘Go To My Card’ link on our website www.gctfcu.net.

These online services allow you to operate your account with Greater Central Texas Federal Credit Union from the comfort of your home or office. You no longer have to put your financial transactions on hold just because you are out on vacation or you are short of time. Manage everything on the go, just in the click of a button. Contact us to know more about our online services, and for information on our lowest used car loan.

Greater Central Texas Federal Credit Union has its origins dating back to 1957. We are a secure and sound credit union, based on a not-for-profit model, where all the proceedings from the credit unions go back to our members. The large number of financial opportunities and member services that we offer give us the reputation of being a highly trusted financial service provider. Here is a look at some of the key benefits that you can avail with a GCTFCU membership:

• Payroll deduction
• Direct deposit
• ATM
• Wire transfer
• Cash advance on your MasterCard and MasterCard gift cards
• Bill payments
• Online access to your account
• ACH origination
• Notary service

In addition to the aforementioned convenience services that we offer our members, you can also benefit from a wide range of savings and investment options. These are especially useful if you are planning to make a huge investment like a house or a car. As a GCTFCU member, you are entitled to open a regular share savings account, for which you need a minimum of only $25.00 to start with. You can benefit from our attractive dividend rates, which are paid on a quarterly basis.

Other popular saving options that our members can avail include Share Certificates of Deposit, IRAs, and club accounts. The SCD requires a minimum balance of $1000, and flexible terms ranging between 6 months and 36 months. The interest on these accounts is compounded quarterly. For those looking for a secured auto loan, getting a GCTFCU membership is a great idea, because we offer cheap interest rates and flexible loan terms, making it easy for you to convert your dream into a reality.

Our members are entitled to a wide range of options while getting an auto loan, which include pre-approval on the loan and refinancing. Other loans that we offer include boat loans, RV loans, home improvement loans etc. You can also enjoy low rates on our credit cards, which start from as low as 8.99% for our MasterCard Platinum. Our members are privileged to use these credit cards worldwide, without having to pay any annual fee.

You can also avail our exclusive skip-a-payment feature, which makes it easy for you to sail through a rough financial patch without having to worry about lagging behind on your loan payment. Our efforts remain to provide the best service and lending opportunities to each of our valuable members.

As exciting as it is to buy a new car, it is increasingly important to pay heed to the financial intricacies involved in this purchase, and make sure that you understand how your car loan is going to impact your personal finances. These financial calculations can be intimidating, which is where the role of a car loan calculator comes into play. Such a calculator is a useful tool for a layman to understand how a car loan works, and decide the best option to get a cheap auto loan that fits within their budget.

The car loan calculator at Greater Central Texas Federal Credit Union can help you calculate factors like how much your monthly car payment will be, how much you can comfortably afford as per your income and expenditure, etc. Car loan calculators help you to achieve accurate figures by taking into account loan terms like the trade-in value of your car, sales tax, down payment, etc.

Here is a look at some of the ways in which you can benefit from an auto loan calculator:

• The process of using an auto loan calculator is simple and straightforward, making it a lot less time consuming than a personal consultation with different car dealers and agents. You can try out different possibilities, altering the down payment, interest rate, monthly payments, loan period, etc. to know how each of these factors will impact your overall car loan.
• Making use of a car loan calculator helps you to be a better-informed customer when you actually go to buy a car. If you have all the knowledge of how different loan terms will impact your EMI, your chances of landing the lowest possible new or used car loan go up significantly.
• You can use a car loan calculator not only before, but also during the process of buying a car. For instance, if the dealer offers you a loan option that you hadn’t considered earlier, you can compare it to an option that suited you, instantly, by using a car loan calculator.
• In the end, the greatest benefit that you, as a car buyer will get from using an auto loan calculator is that you shall get the best possible deal on your car loan. It is almost like having a personal consultant with you wherever you go, willing to answer questions on as many possibilities as you can conjure for your car loan.

To obtain quick and affordable auto loans in Texas, you can count on Greater Central Texas Federal Credit Union. You can visit us at 3305 E Elms Road, Killeen, TX 76542 or call us at 254-690-2274.

Shopping for new or used car loans from credit unions is a great idea to get a cheap auto loan, as these financial institutions offer attractive loan terms and significantly lower interest rates than banks. The Established in 1957, Greater Central Texas Federal Credit Union is one of the 7700 credit unions across America, which has been serving people across Central Texas to procure low interest loans. Here are some of the top reasons that make getting a credit union car loan a great idea:

• Greater flexibility: When you walk into our credit union, you are not just another number, but are a valuable member whom we shall make every effort to help. You are much more likely to have your case heard out and considered at our credit union than at a bank. This could mean getting approved for a car loan even if you do not fulfill all the requirements of such a loan. 
• Lower interest rates: This is probably the major reason why a vast majority of people looking for an auto loan in Killeen, TX and other cities across America opt for credit union auto loans. While the interest rates for bank auto loans average at around 4%, those at credit unions are as low as 2%, amounting to a significant saving over the life of the loan.
• Non-profit approach: Our credit union follows a “for the members” and “by the members” approach. All the proceedings gained through interest are put back into the credit union for the benefit of its members. This is usually in the form of low interest rates, savings accounts, and increased flexibility in loan terms.
• Financial education and resources: The Greater Central Texas Federal Credit Union has a dedicated resource center for its members, where you can get valuable advice regarding your loan, repayment options, your financial situation, the real value of the car being considered, saving options, etc. At our credit union, you can always be sure of the lenders working in your best interest.
• Personalized service: You can be sure of getting the best customer service at our credit union, with a group of board members volunteering to make decisions regarding operation. This gives you a chance to openly discuss any issues you might be facing with your loan before or during the loan term, being sure of getting helped with the best solution for your problem.

For more information, visit us at 3305 E. Elms Rd., Killeen, TX  76542 or call (254) 690-2274.

Financing your next car through a credit union is a great option if you are looking for a cheap auto loan. With more than 7,700 credit unions across America, credit unions are the financial institutions of choice for car buyers, thanks to the favorable loan terms and low interest rates offered by these lenders.

Greater Central Texas Federal Credit Union (GCTFCU) is a credit union based in Texas, which has been serving Texans since its establishment in 1957. The great thing about getting a credit union auto loan is that these institutions are owned by the members, making them not-for-profit organizations.

All the proceedings that are earned by way of interest are returned back to the members in the form of low-interest rates. GCTFCU does not charge any monthly service charges from its members, and has no minimum balance required for membership. If you are looking for the lowest used car loan in Texas this could be just what you need, with interest rates on used cars being as low as 5.99%. This credit union offers competitive interest rates on new cars as well, with interest rates averaging around 3.99%.

While the process followed to obtain a car loan from this credit union and a bank is very similar, the major advantage that the former offers is being community-oriented. This means that if for any reason you are unable to make a payment at some point during the loan period, you can expect the credit union to work with you to find a way around it, which is contrary to the rigid approach followed by banks. For instance, GCTFCU offers a “skip-a-payment” option to its members, whereby they can skip a single loan payment in case of a rough financial patch.

In addition to getting a cheap auto loan with flexible terms, being a member of GCTFCU also comes with several added advantages. These include payroll deduction, direct deposit, ATM, wire transfer, online access, MasterCard cash advance, notary service, etc. We also make an effort to help you in achieving your financial goals through a variety of easy saving and investment options. Choosing to get a used or new auto loan from us puts you at the advantage of having pre-approval for the loan, flexible terms (48-72 months), the option of refinancing, and competitive interest rates.

A secured auto loan is one in which there is collateral offered against the loan, which gives the lender higher security, hence resulting in better loan terms for the borrower. In most cases, the collateral in a secured auto loan is the car itself. That means that if, for any reason, the borrower is unable to make complete payments of the car, the car is repossessed by the lender. In some cases, the lender might require something more than just the car to be offered as collateral. This could include assets owned by the borrower, like a home, boat, land, etc.

A borrower has to fulfill certain basic requirements to get approval for a secured auto loan. These include:

• Proof of income- It is mandatory to have a verifiable income in order to be eligible for a secured auto loan. You could submit proof of income in the form of paycheck stubs, copies of tax returns, bank statements, etc.
• Steady employment- You must have had a steady source of income. If you do not have proof of steady employment, you might need to show proof of some other verifiable source of income, such as a personal business, inheritance, etc.
• Residency- You must have had lived in your current residence for at least one year. If you have just moved into your home, you need to show your prior residence proofs.

The greatest advantage of getting a secured auto loan is that the rate of interest for such a loan is significantly low, as compared to that for an unsecured loan. In addition to this, you can also expect to get more favorable loan terms, such as increased flexibility, on such a loan, since the lender has greater security in such a loan. Moreover, since the car is offered as collateral, the lender is generally more relaxed in terms of the amount of income of the borrower, or how well the income shows on paper.

When opting for a secured auto loan, you need to be sure not to default on your loan payments. By completing the loan payments till the end of the loan term, you can end up saving a lot of money as compared to if you had chosen an unsecured loan.

Getting a secured auto loan can be a confusing and overwhelming process for many, and there are several things that can go wrong in such a loan. You need to be very sure about the terms and conditions of such a loan before you sign your auto loan contract. Feel free to ask questions, carry out research, and explore all your options before you seal the deal. Here’s a look at some of the most common pitfalls while applying for a secured auto loan, and how to avoid them:

• Sitting across the desk from your financier with your fingers crossed as you wait to hear your credit score is not a good idea. You need to be very sure about where you stand, and make an effort to improve your credit rating, before walking in to get an auto loan. Contact a credit bureau for information on how you can rectify errors in your credit report. Even a small change in your credit can have a big impact on your loan and the interest rate you get.
• One of the easiest ways to ruin your auto loan is to end up spending more than you had set out to. If you are sure that you want a cheap auto loan, it is important to know exactly how much you can afford to spend towards monthly car payments (no more than 20% of your net monthly income) and stick to this figure.
• Take time out to carry out some basic research on the going interest rates on secured auto loans in the market, before visiting the dealership. This way, you will know whether the rate being offered to you is a fair one.
• Do not let the loan officer drift to insignificant aspects of the deal, by intertwining them with what really matters. Your primary focus at all points should be the APR being offered to you, as this is what shall actually matter in determining how much you end up paying in the long run.
• Signing the papers under pressure in a rush to finalize the deal is another common pitfall that most buyers make. If you feel that you are losing control and succumbing to the seller’s pressure, a better idea would be to walk out and return, if you must, once you have cooled down.

Keeping your head cool and doing your homework before entering the loan agency office can help you get that lowest used car loan that you have been looking for, leaving you with a loan that you’ll be happy about for as long as you drive the car. 

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.

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.

One of the most perplexing decisions that any car buyer is faced with at the beginning of his purchase, is whether to opt for a new car or a used one. While some people are very sure about which way they want to go, the following compilation of the pros of going either side should help the rest of you decide-

Pros of buying a new car-

• One of the major advantages of buying a new car is that you can get exactly what you want, custom-made to meet your needs. This saves a lot of time, along with ensuring optimal satisfaction for you as a buyer.
• Another obvious advantage is that you do not have to worry about where the car you are driving has been, or who owned it before you did. You are the first driver, and you decide how you wish to keep it.
• The warranty that you get with a new car is also an advantage, since it comes with the car and you do not have to pay extra for it.
• Chances of getting better financing rates with a new car are high, since the car has not yet depreciated, and hence inherently costs more.
• A new car is likely to be equipped with the latest gizmos, safety measures, and mechanical advances. This means better efficiency, increased safety, lower emissions, and a generally more pleasant driving experience.

Pros of buying used-

• The biggest advantage of choosing to buy a used car is the cost saving involved. Not only is the overall price of the car a lot lower than its new counterpart, but you can also easily get a cheap auto loan on a used car
• A used car also offers the advantage of undergoing minimal depreciation. While this might sound counterintuitive, it is true, since all cars undergo maximum depreciation in the first few years, losing as high as 40% of their value in the first year. 
• Chances of getting low insurance rates on used cars are high. All that you need to do is shop around and stay away from insurance sticker shock. 
• Used cars offer a wider range of financing options, and with some amount of research, you should be able to get a great deal on the lowest used car loan in your area. 
• Finally, choosing to buy a used car increases the options that fall within your budget greatly, making it possible to consider buying a dream car that you otherwise wouldn’t have been able to afford.

With more used cars than new ones being sold in the US every year, it is wise to consider buying a used car instead of a new one, for the several benefits that this offers. Here’s a look at what’s making car buyers go for the second-hand ones instead of bringing home a gleaming new set of wheels.

• The top advantage of buying a used car is of course that you save money. Considering that the value of a car drops by around 30% every 3 years, you are saving a lot by choosing to buy a used car instead of a new one.
• The saving does not end at the price that you have to pay for the car, but also extends to the ancillary costs like insurance. By buying a used car, you have to pay less for insurance than you would have to pay for a new vehicle, which will result in considerable annual savings.
• While buying a used car, you can get a clear picture of the car’s performance and reliability by taking a look at its service history.
• You will also save on accessories, since most used cars are equipped with the basic accessories that you will need, like a music system and air-conditioning.
• Since most of the depreciation on a car’s value takes place during the first three years of purchase, you are likely to get a better resale value on a used car than you would on a new one.
• With the introduction of CPO (Certified Pre-Owned) programs by most companies, used cars undergo a rigorous inspection procedure, which ensures that the certified cars have high-mileage and no record of major damage. Such cars are available at lower rates of interest than new cars.
• Buying a used car is a great way to get a relatively old model of a luxury car in excellent condition, at just a fraction of its original price.
• Buying a used car gives you a much wider variety to choose from, in terms of price, mileage, features, condition, and models.
• If you are buying a used car from an individual user, you might find it easier to negotiate and get a better deal, than if you were buying a new car from a dealer.

When you are finally ready to buy a used car, be sure to hire a mechanic to inspect it thoroughly. It is also advisable to get a written deal and to negotiate the price, starting at a price lower than what you are willing to pay.

To avail cheap auto loans for both used and new cars or to know more about the benefits of buying a used car, kindly visit us at Greater Central Texas Federal Credit Union. We provide you quick and cheapest auto loans in Texas. For more details, visit us at 3305 E Elms Road, Killeen, TX 76542 or call us at 254-690-2274.

A secured car loan is one in which the borrower puts up a collateral against the loan. This is usually the item for which the loan is being taken, which in this case is the car. Depending on various factors, the lender might also ask for collateral beyond the vehicle, in the form of a house, property, or any other valuable possession. In case the borrower forfeits any of the loan’s requirements, the lender is entitled to take legal action against the borrower, and claim the collateral.

The major advantages that a secured loan offers to the borrower are a lower rate of interest, and a more flexible repayment period.  Enlisted below are the basic requirements that you shall have to fulfill to be eligible for a secured car loan:

• A verifiable income- You should be able to prove a regular source of income on paper. This could be in the form of paycheck stubs, tax returns, or bank statements. It is advisable not to resort to any false claims on income, as this could badly affect your credit record for life. However, do not fret if your income does not show well on paper, since secured car loans usually have more flexible terms, owing to the security offered by collateral.
• Steady employment- A key requirement that most secured auto loan lenders seek in prospective borrowers is a steady employment. If you have had the same job for over six months, your proof of employment should suffice. In case of self-employment or an alternate source of income, you need to find a way to demonstrate the generation of regular income.
• Stable residency- Most lenders require that you should have lived in your present home for at least one year. If you have moved in recently, you might consider using a previous proof of residence, of a home where you lived for a longer period in the past.
• A high credit score- Even though this is not an essential requirement for most car loans, but it definitely helps to have a record of good credit in the past. You can consider using some quick ways to improve your credit score before applying for a secured car loan, to reduce your chances of rejection.

With these simple requirements intact, you should have no trouble in getting a secured car loan.

We at Greater Central Texas Federal Credit Union provide you with fastest and reliable secured auto loans. Whether you want to purchase a new car or a used one, we have solutions for all your car loan needs. We offer you flexible loans to suit your financial situation. For more details, visit us at 3305 E Elms Road, Killeen, TX 76542 or call us at 254-690-2274.

Cheap Auto Loan - 72 Month Auto Financing

The first step of getting an approval for your loan is to carry out a research of the auto finance options being offered by different companies. You don’t just need to consider the basic facts like the interest rate and repayment period, but should also have a look at the other terms and conditions of the loan.

It is advisable to discuss the loan directly with the finance company, instead of going through an auto dealer, since the latter is likely to direct you to a financier who offers him a lucrative deal.

When you apply for the loan, you shall need to provide verifiable claims for all the sources of income that you have stated. Previous tax forms can come in handy at this stage. You should also collect any pay stubs and proof of utilities or a lease in your name.

You shall also need to provide a proof of your residence, which shall be verified by the finance company. Your landline phone bill or even a cell phone bill address should suffice for this. You might also need to provide an additional residence proof, like business correspondence to your residential address.

As a proof of your current monthly income and job stability, you need to provide your employer’s name, as well as the phone number of a reference who can verify the post that you are working at, your joining date at the company, and the salary that you are drawing.

If you are self-employed, it might be slightly trickier to verify your income. It is helpful to have tax returns for the past two years to present to the financing company.

In case you need more income to qualify for the loan, you can consider getting a cosigner for the loan.

You must ensure that all the information that you provide is accurate and verifiable. Providing inaccurate information can make you face legal problems. Any source of income that cannot be verified on paper is of no use while applying for a car loan, since the company will need to verify all the information that you provide.

It is not a good idea to apply at multiple companies for a car loan, since each application that is processed results in 2 points being deducted from your credit score. Do your research before applying for a loan, and once you do, do not switch loyalties.

To For more tips or to avail cheap auto loans in Central Texas, visit us at Greater Central Texas Federal Credit Union.  We are situated at 3305 E Elms Road, Killeen, TX 76542. You can also call us at 254-690-2274.

Secured Auto Loan - 72 Month Auto Financing

Owning a car may be a dream for many but not everyone can easily achieve it. Secured car loans are specially designed for those short of sufficient funds to purchase their own car. The principle on which such loans work is pretty simple. The borrower has to pledge the car he or she wishes to purchase as collateral against the loan amount. Such loans suit the needs of any kind of buyer. One can purchase a new or used car depending on the budget and choice.

A borrower can attain up to 90% of the value of the car and that too for a period of 2 to 7 years. Lending companies are quite flexible when it comes to secured car loans. They are ready to negotiate on the down payment and rates of interest. Talking of the rate of interest, it varies from car to car and is generally lower in such loans because the car is being used as security against the loan. This makes it easier for the borrower to stretch the repayment to a longer span of time.

You can even get a loan on a used car provided it is in good condition and not very old. Lending companies usually prefer cars that are not older than three years. The rate of interest on the loan will also depend on the condition of the car. Interest rates may be fixed or variable depending on what suits the borrower best. Fixed rates of interest are great for those who want to know exactly how much they are expected to pay each month.
The best thing about these loans is that they are very easy on the borrower. As a borrower, you get to decide whether you would like to repay the loan on a weekly, fortnightly, or monthly basis. You can negotiate on virtually anything with the lender. If you happen to have some spare cash and wish to repay an extra sum of money, you can easily do so and save on the interest to be paid.

A secured car loan is definitely the best bet for owning a car easily and quickly. It’s got immense benefits to offer to the borrower, the biggest being the ease and flexibility with which it gets repaid. However, as a borrower, it would be wise if you clarify some important points with the lender before entering into a contract. The most important things to confirm would be:-

• The rate of interest
• The duration of repayment
• The total cost over the entire term of the loan
• Provision for extra repayments
• Penalties on failure to repay etc.

We at Greater Central Texas Federal Credit Union provide you quick and cheapest secured car loans in Texas. For more information about our services, visit us at 3305 E Elms Road, Killeen, TX 76542 or call us at 254-690-2274

Secured Auto Loan - Cheap Auto Loan

Finding yourself desperate for cash is quite common scenario in these tough economic times. From small expenses like paying utility bills to really big expenses like purchasing a new car, it can be stressful to find yourself in need of cash with only a few money lending avenues available. And on top of that, banks continue to tighten their lending policies, making it difficult for many people to get approvals for personal loans and auto loans.

However, an auto loan is different from most other loans, because in this case, you are automatically putting your car up as collateral. It means that the lender is assured that if you do not pay the loan, he can make up for the lost amount by claiming your car. Such a loan will especially work to your advantage in case the car that you are purchasing is a brand-new one. 

One might wonder what the catch is for the person/ financial institution giving you the loan. The answer is that they are assured of getting the loan amount and the interest associated with it as they have collateral against the loan. When you are opting for a loan without the backup of a good credit history, you should be well aware of the fact that you shall need to pay a higher interest than you would in a regular loan.

There are still a few things that you can do to make the stakes more favorable for you as a borrower:

• To start with, you must ensure that you have enough money for the down payment, because the higher the down payment, the lesser will be interest on the loan amount. It will also lead to lower monthly installments. 
• Secondly, convince someone to be a cosigner in your loan. This could be your parents, or anyone else with a good credit history. 

With all this done, you are on your way to driving home a set of wheels, without having to worry about paying more interest than is necessary.

We at Greater Central Texas Federal Credit Union provide you with fastest and reliable auto loans in Central Texas, for both new car as well as used cars. For more details on secured auto loans and car financing, visit us at 3305 E Elms Road, Killeen, TX 76542 or call us at 254-690-2274.

Secured Auto Loan - 72 Month Auto Financing

Stringent loan regulations and tough lending policies make it difficult for a regular new car buyer to cope with the situation. One of the biggest challenges as a car buyer without a credit history worth boasting of, might be to get a cosigner for your loan. Put simply, a cosigner is a person who signs your loan along with you, taking shared responsibility of you paying the loan, and the consequences that would follow if you do not.

Getting an auto loan without a cosigner might be difficult but is definitely not impossible. The main thing that you need to focus on is saving enough money to pay up high upfront. With that taken care of, you can easily get a loan, with your car as the collateral. However, if you are considering getting an auto loan without a cosigner, you need to be careful about the following-

• The car should not be more than 5 years old
•  The down payment should be a fairly large amount.
•  You should be ready to repay the loan in a relatively less amount of time (around 4 years)

If you have no/bad/low credit history, and are looking for a no-cosigner auto loan, you might have to compromise on the rate of interest, which is bound to be higher than it would otherwise be. To ensure that this does not happen, you need to work on the above factors, each of which can help to significantly decrease the interest that you need to pay. 

If you cannot afford sufficient down payment, a good idea would be to ask a close friend or relative to pitch in. That way, you can end up with a low interest rate, eventually saving money, which you can repay to your personal lender. You can also seek professional assistance to improve your credit score. This can be done by searching for discrepancies in your credit report, as well as reporting positive credit that might have gone missing.

We at Greater Central Texas Federal Credit Union provide you with fastest and reliable auto loans in Central Texas. No matter you want to purchase a new car or a used one, we have solutions for all your loan needs. For more details on secured auto loans and car financing, visit us at Greater Central Texas Federal Credit Union located at 3305 E Elms Road, Killeen, TX 76542. You can also call us at 254-690-2274.

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No money down auto loan is a financing option for those buyers who have no cash to bring to the transaction. They are mainly meant for individuals with good credit. They are generally used by those who cannot afford a down payment, or simply don’t want to block their cash in a vehicle that depreciates.

A good credit score is the gateway to accessing a no money down loan easily. Many car dealers and auto financing institutions have no money down programs for buyers with a good credit score. Having a trade-in makes it even easier to get a no money down loan from a dealer. They can easily manipulate the amount they give you for the trade-in to make a profitable deal for them. Those who pay too high a price for the vehicle may end up getting a no money down financing at the dealership they are dealing with.

Regardless of your credit score, you are required to produce the standard auto loan paperwork to get the no money down auto loan. You will have to show the total amount that you have earned for the year. If you are self employed, you will have to produce the tax returns for the past two to three years. You will also need important information about the vehicle in question. You will have to mention the VIN, the purchase price on the dealer’s sheet, the year, make, model and the mileage. The car title and proof of insurance are crucial requirements when seeking a no money down auto loan.

Those with bad credit will have a tough time getting such a loan. They will end up paying a higher rate of interest than if they were making a down payment. They may be required to have a co-signer on a loan. Such borrowers should steer clear of lenders with “buy here, pay here” policies.  These lenders usually charge exorbitant interest rates. They also have very aggressive repossession policies and little leniency in late payments. It’s essential to check these things out before striking a deal with a lender. Be sure you clearly understand the terms of the agreement before you sign.  Make sure you understand the terms, the payments, the duration of the loan, the late penalties and other details.

We at Greater Central Texas Federal Credit Union always recommend maintaining a good credit score to get a quick and low interest loans in Texas. For more information about our services, kindly visit us at 3305 E Elms Road, Killeen, TX 76542 or call us at 254-690-2274.

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First time car buyers are usually young individuals, who have just gotten into college or have started their first job. The experience of buying a car for the first time can be as challenging as it is exciting. As much as you would love to see a sparkling set of wheels parked in your porch, you need to be wary of making mistakes that most first time buyers are likely to make. Here are some handy tips that should get you through one of your biggest deals so far without much of a hassle:

1. Stay within your budget: As a first time buyer, it might be tempting for you to indulge in a fancy car just like you’ve always dreamt. However, you need to be well aware of the repercussions of making a purchase that’s beyond your means. Not only could it jeopardize your credit history, but it could also cause you unnecessary financial burden. As a rule of thumb, buy a car only if you can afford to pay 20% of the payment as down payment. Ideally, you should be able to pay off the loan within 4-6 years of making the purchase.
2. Consider buying a used car: Most first time car buyers have their eyes set on a big buy, and do not as much as consider buying a used car. What you need to understand is that it’s alright to buy a car that has been used, as long as it is in fairly good condition. Even though it might be a little difficult to get an easy financing option on such a car, the small installments make it a lucrative option.
3. Get a co-signer: One of the biggest problems faced by any new car buyer is not having a favorable credit record to get an auto loan. It is a good idea to seek the assistance of a parent or elderly relative, who is ready to cosign your loan documents. This is simply a way to assure the lender that you shall repay the loan, and can help you to get a lower rate of interest and a better loan than you otherwise would.

We at Greater Central Texas Federal Credit Union provide you quick and cheapest car loans in Texas. For more information about our services, kindly visit us at 3305 E Elms Road, Killeen, TX 76542 or call us at 254-690-2274.

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Most households have multiple vehicles, which translates into multiple car loans. If you are one of those persons, and are perplexed by the multiple amounts and rates of interest that you are required to pay each month, car loan consolidation could be the perfect option for you.

How it works:
This basically works by allowing you to combine all your pending loans into one consolidated loan, by which you can save on the interest that you pay each month. The company offering you the loan lends you enough money to be able to repay all your car loans. With that done, the only thing you now need to worry about is repaying one consolidated car loan.

Advantages:

• This is a great option if you wish to increase your credit score, by reducing the total number of outstanding loans.
• It also offers the advantage of paying lower monthly installments, since the repayment period can be lengthened.
• Another benefit of this kind of loan is that it makes it easier for you to keep track of your monthly dues, and to repay them on time.
• Consolidated auto loans are usually easy to obtain, since all the vehicles involved serve as collateral.

If you are ready to apply for one such loan, here’s a step-by-step guide to how you can go about it:

1. Do the math- The first thing that you need to do before getting started with the process, is getting a clear picture of all your dues. Calculate the total outstanding amount on all your loans, as well as the portion of this amount that is being paid as interest. You can provide all this information to a car loan lender to get a proper analysis of your situation.
2. Inquire about penalties- Before you calculate how much you will be eventually saving, be sure to take into account the penalties that you might have to pay. Some companies charge a penalty in case you repay the loan before the stipulated time. This is done in order to make up for the amount that they shall lose as interest.
3. Research market Interest rates- Now that you have the picture pretty clear, it is time to get to real business, by analyzing who’s offering what. Carry out a research on the possible rates of interest that shall be offered to you. Your ultimate goal should be to repay less interest in the long run than you would originally.
4. Consolidate- The final process is consolidating the loans, by repaying the original ones, and devising a payment plan for the consolidated one.

We at Greater Central Texas Federal Credit Union are renowned throughout Texas for providing our customers with fastest and reliable secured auto loans. The loans offered by us are flexible which suits your financial compatibility. For more information about our services, visit us at 3305 E Elms Road, Killeen, TX 76542 or call us at 254-690-2274.

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Auto loans come in various loan repayment terms. A car loan can be taken for 24, 36, 48, 60 or even 72 months. This means that one can get a short term loan as well as a long term one. Some people prefer short term loans as they have to pay less interest. Others go for long term loans as they will have a smaller amount of monthly installments to pay. A long term loan can enable one to purchase an expensive car easily as it’s less burdensome to repay. Despite the high interest rates that come with long term loans, a rising trend has been observed of those who prefer these loans.

Lenders and finance companies are increasingly approving 6 to 8 years auto loans on new cars. This is probably because new cars are better manufactured than they were in the past. The average life of automobiles is increasing and due to this lenders are exposed to fewer risks while lending. However, it’s important to consider both sides of the coin and check out the pros and cons of long term loans.

Pros:

• Smaller monthly payments: This is a major reason for which most of the people prefer long term loans. The total amount is spread out over a longer time period. This significantly reduces the monthly payment and allows the common man to drive a car he could not otherwise afford.
• Refinancing: Long term loans can be refinanced after a few years. This will shorten the time period of the loan and consequently reduce the interest rates.

Cons:

• Costly: Loans that stretch over a long period of time are more costly in the long run. This eventually proves costly for the consumer.
• Depreciation: Vehicles depreciate at the rate of 15-20% each year. Taking a long term auto loan means that by the time you are about to pay off the loan, your vehicles worth will be a little more than the loan balance.

We at Greater Central Texas Federal Credit Union provide you quick and cheapest car loans in Texas. For more information about our services, kindly visit us at 3305 E Elms Road, Killeen, TX 76542 or call us at 254-690-2274.

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