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

Buying A Car- Should You Buy New Or Used?

21. May 2013 Administrator (0)

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.
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GCTFCU Blog | How To Open An Account In A Credit Union?
Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

How To Open An Account In A Credit Union?

25. March 2021 Administrator (0)
The process of opening a credit union account is a relatively simple and convenient one. Members of a credit union enjoy access to a number of superior financial services and products and are deemed as equal owners of the non-profit organization. Profits earned by the organization are returned back to its members in the form of lower loan rates, higher savings rates, reduced fees and amazing customer support.

Listed below are some important pointers on opening an account in a credit union:

  • Select A Credit Union: Research on the credit unions in your locality and choose the one based on membership criteria. Inquire whether the credit union is federally insured by the NCUSIF (National Credit Union Share Insurance Fund). Review the services and products offered and verify whether they meet your needs.
  • Choose Account Type: Check different account types offered by the credit union. Credit unions offer numerous different account types such as Savings Account, Share Account, Money Market Account, etc. Ask about the features and minimum requirements for every account type and choose a suitable account that matches your requirements.
  • Gather Your Documents: The next step is to gather documents that contain important information about your identification such as your Social Security Number, tax bill receipt, credit card, voter’s registration, student ID, physical address, valid identification like a passport, driver’s license, passport, etc. Feel free to call the credit union for guidance and assistance about required documents.
  • Open An Account: To finally open an account after the initial formalities, you will be required to pay an amount of as opening amount to complete the account application. You will also have to pay an amount as the processing fee and deposit a minimum amount in your account which will remain in the account until its closure.
  • Consider Online Options: For your convenience, you can consider filling an online application form for opening an account in a credit union on its website. Information on the formalities and documents required can be accessed on online portals in full detail. Apart from information about opening an account, you can explore the variety of services and products offered such as the calendar of events, direct deposit, Christmas and Vacation club accounts, certificates of deposit, Individual Retirement Accounts, share accounts, money market accounts and so on.
Greater Central Texas Federal Credit Union offers a variety of account types to its members. For more details on how to open an account at Greater Central Texas Federal Credit Union, visit 3305 E. Elms Rd., Killeen, TX - 76542. You can also call at (254) 690 – 2274.
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