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

Auto Loans In Killeen: Common FAQs

8. July 2016 Administrator Auto Loans (0)
Getting an auto loan from a credit union in Killeen is a fairly simple process. However, before applying for a loan, you need to be clear about your requirements and budget. Besides, there may be a lot of questions and concerns that you may have in your mind. Listed below are some of the common questions asked by people while applying for an auto loan in Killeen:

Q: How do I approach for a car loan?
A: You can research online or contact the credit union in your area to know about the vehicle financing options available. After comparing the interest rates offered by different institutions, you need to submit an online auto loan application form. Depending on your eligibility, you may get intimation from the lender to process your application further for loan approval.

Q: How much loan can I get from the credit union?
A: Depending upon the terms and conditions of the credit union, you may get loan up to 90% of the total value of the car you are planning to buy. However, certain factors may influence the actual amount approved by the credit union. These may include the price of the vehicle, resale value, insurance costs, your income etc.

Q: How is the interest rate determined for my auto loan?
A: The interest rate for auto loan is determined after considering factors such as credit history and loan amount sanctioned. The credit union may evaluate your ability to repay the loan while deciding the interest rate. The length of loan term and amount given as down payment are some of the other factors that may be taken into account.

Q: What are the important documents that I need to submit?
A: While applying for an auto loan, you may need to submit proof of your income, credit history, residence, age, financial statements etc. You will also be required to provide vehicle information to the lender whether you are buying a new or used car. This includes details such as: year of manufacturing, model, vehicle identification number etc.

Q: If I decide to repay my auto loan early, is there a pre-payment penalty?
A: Though most of the financial institutions do not have a pre-payment penalty, you need to check out the specific rules of your credit union. Depending on the specifications of your loan as well as the terms and conditions, you may or may not be able to repay the loan early.

For affordable auto loans in Killeen, TX, consider Greater Central Texas Federal Credit Union. For details about the application procedure, you can call at (254) 690 – 2274 or visit 3305 E. Elms Rd., Killeen, TX  76542.
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GCTFCU Blog | Reasons You Must Join A Credit Union In Killeen, TX
Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

Reasons You Must Join A Credit Union In Killeen, TX

12. February 2016 Administrator Auto Loans, Home Loans (0)
Credit Union is a not for profit institution that works collaboratively with its members to ease the financial liabilities of the clients. It lays emphasis on customer service and working for the benefits of the members. As the good word is spreading, more people are showing interest in joining credit union in the Killeen area as it offers various benefits.

  • Focus on the community: A credit union aims at uplifting the financial understanding and positioning of its members. They plough back the finances they raise for the improvement of the objectives, thus making them a viable social organization.
  • Easier loans and lower interest rates: Accessibility of loans at competitive interest rates is one of the biggest advantages of a credit union. The application process is much easier and the loans are approved in a shorter period of time.  
  • Lower banking fee: Their overdraft policies, minimum balance policies are competitive and designed keeping in mind the benefit of the members.
  • Easy to join: It is easy to become a member of a credit union. Membership may be accepted depending on your area of residence, thus opening its gates to more and more members.
  • Education: One can trust a credit union to offer the best advice when it comes to financial constraints and liabilities. They organize periodic seminars, panel discussions, lectures, and personalized financial counseling to make the members aware of latest financial tools available.
  • Accessibility: Credit Unions are managed by representatives amongst the members and thus are more receptive to an individual’s concern. They are connected digitally, giving its members various windows to interact and exchange views, all round the day.
  • More personal: You can strike personal relations with the staff as they are more forthcoming in attending to your queries than anywhere else. You can discuss your problems, raise queries and express opinions as these unions respond promptly to feedback.
We, at Greater Central Texas Federal Credit Union offer complete financial services in Killeen, TX. We provide low interest home loans, checking accounts, savings account, payroll deduction, MasterCard, wire transfer and may other services to the clients. For more information, you can call at (254) 690 – 2274 or visit our office at 3305 E. Elms Rd., Killeen, TX  76542.
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