Getting a new car is a delighting experience but not all of us can afford such luxuries. Most of us would love to buy new cars but when we think of the huge sum of money involved, we sulk and let go of the project. Car loans are the perfect solution for those restricted in terms of money. Such loans operate just like any other loans and different institutions providing these loans have different rate of interest and terms.

Important tips to keep in mind before getting a car loan:

• Clean up your credit balance: A history of poor credit can close all avenues of your loan. So the best thing is to have a clear credit slate as this will make the lenders more willing to help you with a loan. Make it a point to clear all your outstanding bills and if you can, try to establish a savings pattern to increase your credibility.
• New or used car: Before opting for a loan, make up your mind on whether you want a new car or a used one. The requirements and interest rates of both types of cars differ. If you are interested in a hardy and strong built for your car then an old car could be a better choice. On the other hand, some financial institutions offer rebates and cost breaks for new cars. Consider all these factors and decide what’s best for you.
• Set a budget: One can be tempted to strike bigger deals than one thought of when with the dealer. It’s best to chalk out your budget before deciding on the car as this will keep you from overspending. Ascertaining your budget limits will help you get the car financing that suits your credit limits.
• Shop around for the loans: It’s wise to take a tour of various financial institutions as this will place you at a better footage to compare the difference in the loan packages. You can compare the rates of a credit institution and the banks. Better interest rates will go a long way in helping you stick within your budget and spend prudently.
• Look at the big picture: While looking for a car loan, you must consider important factors like the terms of payment and the number of installments. Less terms of credit do not necessarily imply less future implications. Some financial institutions lure customers with low down payments which eventually translate into high installments.

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

Cheap Auto Loan - Lowest Used Car Loan - Secured Auto Loan

A car is no more just a four-wheeled automobile but has become an owner’s passion and a source of great admiration. Though a majority of Americans own a car today, there are still people, especially the middle-income earners, who are unable to afford one. This is mainly because of two reasons- either their dream car is too expensive or they have less savings. But luckily, with the help of auto loans they can easily realize their dream and can own a brand new or a second hand car.

Auto loans are offered in different terms:

• On a short-term basis: In this case, a borrower is required to pay within a set amount of time, depending on the loan providing institution. This time period usually ranges from 2 to 5 years. The borrower will be paying the monthly installments along with the pre-decided rate of interest.
• On a long-term basis: In this case, the borrower usually pays a smaller amount of monthly payment as compared to short-term basis. But this proves to be much costlier in the overall amount. You end up paying more interests in the long-term loans.

Also important is to decide whether to opt for a secured or unsecured car loan. If you are willing to provide some security/collateral to obtain the car loan, then you can go for the secured car loans. The collateral may be anything of equal or greater value than the loan amount, for instance, your car, home or any other valuable.  And if you do not wish to keep collateral, you can opt for unsecured car loans.

We at Greater Central Texas Federal Credit Union provide you quick and cheapest car loans in Central Texas. Unlike banks and other financial institutions, we neither harass you by asking unnecessary questions nor make you wait for several days to sanction your auto loan. No matter which vehicle you want to buy - a car, truck, van etc, we provide cheapest auto loans for all vehicles (both new and used). All you need to do is fill in your details in the used auto loans application form. We will get back to you in 24 hours and provide you cheap auto loans.

To know more about auto loans or for any other related query, kindly 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.

Cheap Auto Loan - 72 Month Auto Financing - Lowest Used Car Loan

More and more people are opting for auto loans these days. One of the main reasons behind this is the savings in terms of cash. The other reasons include low rates of interest, short term and low monthly payments offered by most of the lenders. When you start to look out for the best auto loan options, it becomes important to weigh various pros and cons of various lenders and the deals being offered by them. In such a scenario, the following tips may be of great help to you:

• The best way is to do some research beforehand. It will put you in a much better bargaining position and give you a greater flexibility while opting for an auto loan.
• It is wise to shop around for loans before you start shopping for your dream car. You can search for various loan proving institutions which almost always offer you a better rates of interest than the banks.
• Make sure that you know your affordability ahead of time. Find out the monthly payments which you can afford and then determine if it goes well with the price of the car. This will give you a clearer idea of which car you can afford to buy. It will also make sure you get the best deal for both the car as well as the financing.
• It is also noticed that the car dealer usually talks about the monthly cost rather than the total cost of the car. You must remember that you have to negotiate the total cost and not the monthly payments. It is advised to first agree on the total price of the car and then begin to discuss about the auto financing option.

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. We offer you flexible loans to suit your financial compatibility.

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.

Lowest Used Car Loan - Cheap Auto Loan - Secured Auto Loan

Having a car is more of a necessity than a luxury in the United States. Compared to public transport, it is cheaper, more convenient, and of course serves as a status symbol at all social gatherings. If you finally feel ready to realise one of the biggest dream of your life, do not let a lack of money stop you from realising it. That’s what auto loans are meant for! Put very simply, an auto loan lets you buy any car that you desire, giving you the leverage of paying its price over a few years.

Even though the idea of having someone else pay, while you get to swerve in your delightful indulgence and hear the clanking of brand-new keys, might sound tempting, there is a hidden catch. The catch is the interest that you will need to pay over the borrowed amount used to buy the car. However, when you look at the bigger picture, the interest is just a fraction of the total amount, and by the time you pay the entire amount off, you probably will not even remember that you paid any interest.

If you have decided that you are ready to being your dream car home and are prepared for an auto loan, here are a few tips to consider before getting the loan:

• Analyse your credit: Before you do anything else, you need to manage your credit, to ensure that you get the best possible rate of interest. Every US resident is entitled to use a resource named the ‘free credit report’ for this purpose. However, be sure not to lie about your income or any other details, as that could be a black mark on your credit history for life.
• Take your time to do plenty of research: As tempting as it may be to get a brand-new car in your porch right away, tread carefully. Look around for different financiers and analyse the nitty-gritty details of their loan plan.
• Watch out for prepayment penalties: Even though it might not seem as a likely prospect right now, but you need to consider that you might have a financial boom, which will assist you to pay off your loan early, and hence pay less interest. If that happens, the last thing that you need is a prepayment penalty, forcing you to pay an extra amount.
• The ideal figures: If you are confused about whether you are biting into more than you can chew, these simple figures should be a handy benchmark to guide you- make sure that your loan is divided into number of instalments that you can conveniently pay. Also you should try to pay at least 20% of the amount as the down payment.

For 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.

Cheap Auto Loan - Secured Auto Loan

In today’s fast-paced world, owning a car is more of a necessity than a luxury. Most of us want to travel comfortably with our families, well protected from pollution and the mad rush in public vehicles. There was a time when this was a privilege of the wealthy only. Thanks to auto loans, now even those who cannot pay cash instantly can drive home a brand new car! 

All you have to do is apply for an auto loan at financial institution providing attractive auto loans. You only have to deposit the down payment, which will be a negligible percentage of the main amount. As far as the rest of the amount is concerned, you can pay it as per your convenience in the near future. There are basically two types of car loans:

• Short-term loans: Here you are to pay the total amount over a short span of time. This varies from 2 to 5 years. The payment comprises of monthly installments and interest.
• Long-term loans: In these you are to pay smaller monthly installments as compared to the short-term loans. They will be spread out over a longer period.

Benefits of an Auto Loan

• Immediate acquisition: A car loan gives you instant possession of the car without paying the full amount for it. This is a luxury the middle class man cannot afford to miss. Instead of mercilessly saving for endless years to buy that dream car of yours, a car loan lets you possess it in the blink of an eye!
• Easy Installments: If you are on a tight budget, you need not fret and frown as to how you will repay your car loan. Car loans are variable. You have the option of paying smaller installments every month for a longer period. This will be easy on you pocket and stress free!

To avail cheap auto loans for both used and new cars in Texas, visit us at Greater Central Texas Federal Credit Union. We are located at 3305 E Elms Road, Killeen, TX 76542. You can also call us at 254-690-2274.

Cheap Auto Loan - Secured Auto Loan

If you have chosen to get a car loan from a bank, you better think again. Banks often make you wait for several months to get your car loan sanctioned. Not only they take a long time, but also make you go through a complex procedure. The best way to save yourself from all these hassles is to opt for a reliable financial institution. 

Unlike the banks, the financial institutions offer quicker and convenient car loans. The main reason behind this is the adoption of faster loan processing procedures. The paper work is not too demanding and decision about Auto Loan approval/ disbursement is taken quickly. If the financial institution can judge that you are capable of repaying the loan amount, you will be provided with the loan within a span of time.

We at Greater Central Texas Federal Credit Union provide instant auto loans to all those who are constantly turned down by banks. We offer both secured as well as unsecured loans at very appreciable rate of interests. The loan sanction process is very simple and instant. We do not have lengthy procedure  or paper works that delays auto loan application process.

No matter you want to purchase a car, truck, van or any other vehicle, we finance it all. Not only we provide auto loans for buying new vehicles but you can also take loan to buy used automobiles. All you need to do is fill a simple loan application form and provide a few supporting documents. Upon approval, the loan is disbursed immediately. You can also avail a number of special discounts depending on the kind of credit card you hold. Master card and visa card owners can enjoy hefty discounts on auto loans and other loans offered by us.

There are various options for Auto Loans in Texas, they may range from short term to long term auto loans. Depending on your requirement and payment capacity, you should opt for one. For more details on cheap 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.

Cheap Auto Loan - 72 Month Auto Financing

There was a time when cars were counted amongst the luxurious products and only the high income earners could afford it. But these days, owning a car is no more a difficult task even for those belonging to middle or low income families. This has been possible only because of the auto loans. Auto loans help you in purchasing the car you have been dreaming about till now.

If you are planning to apply for a car loan, there are some important points which you to consider. These will make sure that you enjoy owning your dream car without any fear or hassles while repaying the loan amount. These points have been mentioned below:

• Know about the interest rate.
• Know whether the interest rate is fixed or variable.
• Know how much fees you will have to pay to the loan providing institution.
• Know how often you will make repayments i.e. semi-monthly or monthly.
• Know how long it will take to repay the loan.
• Know the total loan cost including fees and interest over the entire term of the loan.
• Know if you can make extra repayments without paying any penalty.
• Know about the penalties and surcharges behind the repayments.

Know whether you can pay out the loan early or not. If yes, what will be the fee involved?
Make sure you keep these points in mind while opting for an auto loan. You can choose from secured and unsecured car loan. The advantage of opting for secured car loan is that, the rate of interest is lower than that of an unsecured loan.

We at Greater Central Texas Federal Credit Union provide you with fastest and reliable secured auto loans. No matter you want to purchase a new car or a used one, we have solutions for all your loan needs. We offer you flexible loans to suit your financial compatibility.

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.

Cheap Auto Loan - Secured Auto Loan

Buying a pre-owned car is a tricky task as the vehicle can have several hidden problems which you might not notice (even when you test-drive the car). For this reason, having a knowledgeable mechanic always proves to be beneficial.  It is also a smart move to buy certified pre-owned vehicles from reputed deals.

Whatever be the source of your vehicle, you should keep in mind the following points so that you are able to take the right decision:

• Check out the minor & major problems: Keep a track on the minor problems while negotiating the deal. It is obvious that the vehicle will have some issues, so do not worry as these can be repaired and taken care of later. But if you see any major issue in the car, then it is advisable to consider another car.
• Check car history records: The car history record will make you know about the past problems including any kind of accidents, damage, rental use etc.
• Check the car body: Have a thorough look at the overall appearance of the car. It includes the body lines, color, windshield, scratches, dents, corrosion spots, mirrors, wipers, wheel covers and many more. If you find any problem you may negotiate the price further down accordingly.
• Check the door: In order to check the doors, open them and try lifting up on the hinges. The hinges must have ample free play (not excessive) and doors must be easy to close.
• Check the tires: The tires must be of reputable brand and their sidewalls must be damage free ie free from cuts, bubbles, cracks etc.
• Check vehicle manufacturer’s label: It is usually located on the driver’s door. Do check for the VIN number and the manufacturing date.
• Check the interior: Car’s interior must be in good condition. Check for any burn marks, scratches, tears in the seats, broken door handles, visors, electrical accessories like CD player, air conditioner, heater, radio, remote control functioning et al must also be checked.

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

Cheap Auto Loan - Lowest Used Car Loan

Almost everyone dreams of owning a high-end car but in most of the cases financial constraints doesn’t let them own one. Fortunately, there is a solution to it. If you can’t afford buying a new car, then go for a used one!
Used cars are known to give the best value for money. It is a fact that a new car depreciates faster, usually in first three or four years. After this time period, a car is worth only around 60% of its original price. So you get a chance of owning a late-model car at relatively low prices.

But while buying a used vehicle, you need to consider various factors to avoid any kind of problem later on. These factors are:

• Reliability: Buying a late-model used car is not much of a risk than the older ones. If you maintain the car, it will give a great performance with no major breakdowns.
• Warranties: Car usually faces very few problems in its early years and all the minor problems are covered by the warranty provided. But the case is completely different with a used car. It either is coming off warranty or is already off. You may have to pay for repairs from your pocket.
• Repair: The tires, brakes and battery are needed to be considered first as these are the high-wear items in the car. Inspect the car well before purchasing and make sure that the car does not need much repair.
• Depreciation: It depends on various factors such as the popularity of a model, its quality, supply etc. A car tends to depreciate in value in its early years.
• Safety: Always look for safety features such as antilock brakes, traction control, and side air bags are add on features.
• Rate of interest: If you are opting for auto loan, you may get lowest interest rates if you choose a reliable loan providing source.

Always remember that you should not look for the cheapest car. Particularly when you are buying a used car, you must go for the best deal keeping in mind the good condition, least repairs, fewer troubles etc.

To avail cheap and secured used auto loans, visit us at Greater Central Texas Federal Credit Union at 3305 E Elms Road, Killeen, TX 76542 or call us at 254-690-2274.

Lowest Used Car Loan - Cheap Auto Loan

A majority of people postpone buying cars just because they do not have enough money for the same. If you are amongst the ones who have postponed buying their dream car due to financial constraints, you will be glad to know that various secured and unsecured auto loan plans can help you. You can choose from various auto loan plans, loan tenures etc that will suit your financial budgets.

What are secured and unsecured loans? A secured loan is backed by some collateral having value equal to or greater than the loan amount. It offers you flexibility to repay the amount at a reduced rate of interest. Whereas an unsecured auto loan on other hand does not make you pledge any collateral to the loan provider. It is simply granted on the basis of your monthly income as well as expenses. Though one can find a number of banks and auto loans providers in Killeen, but choosing the right one is extremely important. While selecting an auto loan, you should look into any hidden charges, interest rates, loan tenure etc being offered by financial service provider and should compare it with others.

We at Greater Central Texas Federal Credit Union provide you quick and cheapest car loans in Texas. We neither harass you ask you by asking unnecessary questions nor make you wait for days to sanction your auto loan. We are renowned to approve your loan within 24 - 48 hours from the time we receive your completed application and verification of income.

If you are planning to buy a car, truck, van or any other vehicle, visit us today and avail the cheapest auto loans in Killeen. We also provide quick used car loans. All you need to do is fill in your details in the used auto loans application form. We will get back to you in 24 hours and provide you cheap auto loans.

For Cheap Auto loans in Central Texas 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.

Cheap Auto Loan - Secured Auto Loan

When making the decision of buying a car, a major consideration that needs to be made is whether to buy a new car or a used one. This becomes even more important when getting a car loan, since loan terms can differ significantly for used cars and new ones. As a buyer, it is important to understand what these differences are, so as to decide which car loan would be better suited to your preferences. The following points highlight the major differences between a used auto loan and a new one-

• Since used cars have a reduced cost, these loans tend to be smaller than those on new cars, which are obviously longer.
• The rate of interest on a used car is likely to be higher than that on its new counterpart, owing to the higher risk involved in such a car. In this way, new car loans have the advantage of having lower interest rates.
• Used car loans are generally considered to be riskier than new auto loans from the lender’s perspective. This is because these loans run the risk of the car’s value falling below the loan’s value before repayment. It is for this reason that buyer’s might be required to pay a higher down payment on a used car than on a new one.
• It is usually difficult to get a loan on a car that is more than ten years old, since such cars are very risk for the lender.
• In the long run, the cost incurred on a used car is likely to be substantially less than that on a new car. This is due to the high level of depreciation of a new car when compared to a used car in good condition.
• As far as the interest rate is concerned, while the condition of the car and whether it is new or used definitely has a bearing, a greater role is played by other more important factors, such as the borrower’s credit rating and the amount being borrowed. This explains why the rate of interest should not be a major factor when deciding whether to buy a new car or a used one.
• It is a good idea to calculate how much you shall be paying at the end of the loan period in both cases, and take into account the depreciation in the car by then, while making a choice between a new car loan and a used car loan.

To obtain quick, cheap and secured auto loans, consider Greater Central Texas Federal Credit Union only. You can visit at 3305 E Elms Road, Killeen, TX 76542 or call us at 254-690-2274.

Buying a car is a major step for any buyer, and before taking the plunge into bringing a set of wheels home, it is important to have a clear understanding of how car loans work, and what is the best option for you. The length of a car loan is a critical decision, since it bears an effect on the next few years of your life, making it important to know what you are signing up for. Car loan terms can range from as less as 1 year to as long as 6 years.

There is no one perfect term that is ideal for all buyers, since the length of the car loan depends largely on one’s monthly income, and how much they can afford to pay towards the car loan each month. The car loan term is also influenced by the condition of the car, its price, the amount of down payment the buyer is willing to pay, and several other factors. So the question is, if you are buying a used car, what is the ideal term that you should settle on for your car loan?

Let us take a look at both sides of the coin-

• Short term auto loan- A short term loan, which is usually considered to be less than three years, can be a good way to save money in the long run, since this shall mean lower interest rates, as well as a lower total payment towards interest. Another advantage of getting a short term  used car loan is that you own the asset faster than you do with a long auto loan. However, the disadvantage of such a loan is the higher monthly payments, which put you at a risk of falling behind on payments.
• Long term auto loan- Loans that last up to around 72 months are considered to be long term auto loans, and are often the preferred option among buyers who wish to have lower monthly payments, even if this means making these payments for a longer period. Even though you will end up paying more towards interest with a long term loan, it will be easier on your pocket on a monthly/ weekly basis, which is a major advantage for those with low monthly incomes.

Whichever loan term you choose to go with for your auto loan, you can always pay it off before the period, albeit with an early termination fee. In addition to this, you can also refinance your car if you come across a more favorable loan.

We, at Greater Central Texas Federal Credit Union provide low interest loans for both new and old cars. For more information, you can visit us at 3305 E. Elms Rd., Killeen, TX  76542 or call (254) 690-2274.

Everyone dreams of owning a car and being able to experience the independence that comes with it. So if you have finally decided that it’s time to make this dream come true and are all set to make the great purchase, you should take the next step after picking the right car loan. Even though almost all car loans seem similar to the layman, but when you dig deeper, you realize that there is a huge difference between car loans, and in some cases, these can add up to thousands of dollars in the long run.

The guidelines below help you with some useful tips for getting a cheap car loan-

• Credit union auto loans- The financial institution that you choose for your car loan can make the biggest difference in the amount you end up paying in the long run. Credit unions have been proved to be a lot cheaper than banks, when it comes to auto loans. So the first step to getting a cheap car loan would be to join a credit union if you aren’t already the member of one. These not-for-profit organizations function by giving back money to their members on cheaper interest rates and lower monthly payments.
• Evaluate your credit report- By using a free online service available to all US consumers, you can evaluate your credit report beforehand to be sure of what to expect and to have a clearer and more realistic perspective of what your options are.
• Decide your budget- A mistake that most buyers make is leaving the most important decision of which car to buy and how much to spend on it for the last moment. This often leads to overspending.  Hence you end up with larger monthly payments than you can afford.
• Look at the complete picture- Make sure that when you are finally negotiating an auto loan, you look beyond what’s being shown to you. At times, what might look great on paper can actually be a bad deal in the long run. Make sure that you do not end up paying more than the car’s actual worth. It is also wise to look carefully at other terms of the law, such as prepayment penalties.

For more tips, visit us at Greater Central Texas Federal Credit Union at 3305 E Elms Road, Killeen, TX 76542. You can also call us at 254-690-2274.

Buying a car is one of the costliest purchases most people make in their lifetime, which is why it is important to ensure that you thoroughly understand the process of car financing before taking the plunge. Unless you are one of those rare buyers who can afford to pay the entire price of the car upfront, you will probably have to consider all the financing options before you pick one. Credit unions have emerged as a popular option for auto loans, principally because of the significantly low interest rates that they offer. Here, we shall be discussing how car financing from a typical credit union works.

1. The first step, of course, is to become a member of a credit union, if you aren’t one already. This is important because most credit unions offer auto loans only to their members. In fact, this is how they are able to function as non-profit organizations, and give back to their members in the form of low interest rates. Be sure to take a look at the type of loans offered by the credit union you are considering before becoming a member.
2. Once you have secured a membership with a credit union in your area, it is a good idea to take a look at their specific requirements for auto loans, and make sure you have all the documentation required for the loan application process. The paperwork is more or less the same as it would be at a typical bank, the only difference being that you can expect much better assistance and customer care at a credit union. It is a good idea to obtain your credit score and fix and discrepancies that might be present in your record before submitting your application.
3. With the first two essential steps of your auto financing taken care of, you now need to make the critical decision of which car you wish to buy. It is advisable to decide on the budget beforehand, so as to narrow down your choices of cars you can actually afford. You also need to decide whether you will buy a new car or a used one.
4. Finally, you need to decide on the amount of down payment that you shall be making, and the loan period that you desire, both of which shall determine your monthly payments.

We at Greater Central Texas Federal Credit Union provide you quick and cheap car financing 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.

Are you wondering how to buy the car of your dream? Getting yourself a secured car loan is your best bet. It is a loan that you can avail by surrendering collateral which you can regain once you have paid back the loan with interest. Every year thousands of people apply for a secured car loan. It is uncomplicated and has many advantages for the borrower. In most of the cases, the car itself is the security. The lender considers the car as the security against the loan. He acquires the car in case the loan is not paid. But sometimes, the lender may ask security of a higher value. In such cases any financial asset such as house, another vehicle or jewelry can be used as collateral. There are three fundamental requirements to get a secured car loan. You should have regular monthly income and you should be able to prove it using bank slip or any other document. Lenders prefer to lend loan to people who are employed somewhere than to self-employed. Also, if you live in a rented apartment you should have proof that to have lived there for at least 12 months.

One of the biggest advantages of getting a secured loan is that the interest is low and the tenure to return the loan can be longer. Since lenders have the security of the collateral the terms are flexible. The borrower can enjoy easy payment of installments, which allows the borrower to plan his or her savings. The lenders are interested in getting their monthly installments on time. As long as you are able to prove that you have a regular income you can get a secured loan regardless of which income group you fall in. Borrowers of secured loan who are asked to surrender their house as collateral often can benefit from tax-deductions. In such a case, the monthly installment is deducted from the tax that one would otherwise pay. Another advantage about secured loan is that it allows a cordial relationship between the lender and the borrower because of the security of collateral. The lenders are not skeptical about getting their installments and they sometimes can even go easy on delay in payment of installment.
 
In these tough economic times choosing secured car loan is the most hassle-free option.

Everyone dreams of owning a car that they can proudly say has been bought from their hard-earned money. But you might feel the burden on your pocket since the car prices are high and the economy hasn’t yet stabilized. However, high prices should not dissuade you from buying a car for yourself. A good knowledge about car financing can go a long way in helping you decide which car can be bought within your budget.

Read on to know what are the dos and don’ts of car financing.
Basically, car financing means getting a loan from a bank, a credit union or any other source in order to buy a car. This way you can easily buy a car that you desire. The problem of limited budget can also be resolved with car financing.

1. Firstly, one must conduct a thorough research on the amount of money that needs to be borrowed. Prior research helps in determining whether a certain dealer is levying extra charges by means of additional costs and hidden interest rates. This groundwork needs to be done properly so that you get the best car financing deal.
2. Compare and contrast the financing terms of the various auto loan options available. This comparison can be done online by making use of an auto loan calculator. Have concrete information about the current interest rates and get a number of loan options in hand so that you can take a print out and go to a dealership authoritatively.
3. Never ever cross your budget limits. Always pre-decide on how much you can easily afford and then only go in for car financing. After all, it is you who has to return the money.
4. You must have a complete look at the manufacturer’s website in order to know what all factory incentives are available. If a financing deal does not suit your budget requirements, don’t hesitate to decline the offer.
5. Credit Unions offer one of the best car loan options. You need to become a member in order to be eligible for a credit union loan. The advantage here is that these unions are owned by their members and work on a no profit basis. They offer low interest rates and better financing terms. This in turn means your loan is going to be for a shorter period.
6. There is no need to go in for financing options for add-ons, extended warranties and rust protection etc. Most of the new cars are available inclusive of all these additions.
7. Don’t get attracted only to a specific model as the dealer might offer you a high price and high interest rate. Keep 2-3 options in mind before going in for car financing.

Keeping the above points in mind will definitely help you get the best car financing deal.

There are two steps to bring home the car of your dreams- first, finalizing the car that you want to buy and second, choosing the right loan lender. Even though deciding on the former could take a while (boiling down to one that is affordable and what you desire), choosing the latter is definitely tricky. There are various loan lending institutes and to decide upon one is quite a challenge.  Let us explore one of the most suited options.

Taking car loan from a credit union may prove to be most pocket friendly option for you. Credit unions are non-profitable finance organizations. They surely do make profits in order to run their management but their policies are not high on making money from the customers. They are, thus, able to provide loans at fairly low rates of interest, especially when compared to other traditional lending organizations. Most loan consultants will suggest you to make a large down payment. This helps in cutting down the rate of interest that you will be paying regularly. But for those who do not have access to hefty accumulated cash, the only option is to find a car loan lender who offers competitive rates.

Credit unions have hassle-free formalities and the loan gets cleared in as short a period as one day. They are community-friendly and provide great customer services. You get to talk to an agent who will explain all the car loan programs so you can make an informed decision. For example, if you are willing to pay high monthly installments against the loan taken, you may choose a short period loan. They have no hidden charges.

Credit unions often have close associations with local car dealers. Some of the best car deals provided by car dealers are exclusively offered to the credit union they are associated with. Try to find out about any such deals before making your purchase. Being non-profit entities, credit unions lack sufficient funds for marketing and advertising to create awareness about advantages of taking loans from credit unions. Therefore, you may need to research about the credit unions near you and the rates at which they are providing loans. You can find them through online advertisements or by enquiring from car dealers.

Legitimacy of a credit union can be checked on NCUA (National Credit Union Association) website. NCUA is a government body that guards all credit unions balancers. 

For more tips, kindly visit us at Greater Central Texas Federal Credit Union.  We are located at 3305 E Elms Road, Killeen, TX 76542 or call us at 254-690-2274.

The thought of buying a new car can be very enticing, especially if it’s your first car. But before buying a car, you must bear certain important factors in mind. You cannot just go ahead and buy a car instantly. The car you ultimately go in for has to fit within your budget and suit your tastes. Read on to know certain dos and don’ts that you must be aware of before buying a car for yourself. At the end of the day, it is your hard-earned money that you are going to invest, so you have to make sure that it is spent in the best way.

• Firstly, you must research about the various options available in the market. You should have knowledge about the accessories as well, since they can add up to a significant cost in the end. This research will help you get the best possible price for your car.
• Do not go in for a luxury car if your budget does not allow you to do so. You should try not to get a loan spanning more than four years. Also, you must keep your monthly payment less than 10 percent of your income.
•  Remember to keep in mind the fuel costs and maintenance charges. Only if you can afford these, you should go in for a particular car that you desire.
• Get in touch with your insurance agent to get an idea on the interest rates beforehand.
• Do a thorough research on the auto loan options online and compare financing terms using an auto loan calculator. Take a print out and carry these documents whenever you make a visit to the car dealer.
• Also make sure to check your credit rating in advance. This will help you deal better later on. 
• Don’t fall flat for a vehicle while ignoring other options. Look for various models and then only choose the one that fits your bill.
• You should also know the incentives being offered by the car dealer. Therefore, researching on the Internet beforehand about these things can help you prepare in a better manner before you go out to buy a car.

These are some of the simple dos and don’ts which if kept in mind can definitely help you grab a better car deal that is light on your pocket and good for your taste! Make sure you take care of these things whenever you think of buying a new car and you will definitely be better prepared.

Choosing the perfect car for yourself can be one of the most exciting things to do. The car you ultimately buy has to be in sync with your taste and requirements. But before buying a car you need to take care of certain parameters so that things go exactly the way you want. Considering certain factors well in time can help you get your hands on the best car that suits your needs. The vehicle should provide you utmost benefits and prove that it’s worth the money spent. Read on to know some of the best car buying tips that will definitely help you in the overall purchase process.

• Firstly, you should try and opt for a new car if your budget allows you to do so. A brand new car is a better option for many reasons. Not only you will get the latest vehicle technology, you also don’t have to deal with issues or damages from previous owners. Moreover, the new warranties are far more comprehensive. You can also customize the car according to your own preference. Most importantly, the latest cars offer gas-efficient models, which is very beneficial in the longer run.
• The second most important thing is cash consideration. Even though you might be able to afford the new car that you are going to buy, you can’t arrange all the money in one go. This is where auto loans come in handy. These loans are also available on used cars.

1. You should consider your credit score and loan limit before going in for an auto loan.
2. Check the amount that you can afford for the down payment and only then finalize the auto loan.
3. The duration and interest rates on the loans are equally important variables that need to be considered.
4. If the overall cost of the vehicle seems to be too much for you, it’s better to look out for some budget-friendly cars.

•  You should do extensive research before buying a new car. There are a number of good forums on the Web that have people discussing about the latest designs and technologies integrated in the new cars. This will definitely help you choose a better car. Nowadays, dealership companies have a separate section on their websites where they provide an overview of all the new cars. You can read it thoroughly and take your decision accordingly. Searching online can prove to be fruitful as it saves a lot of time and can help you find your dream car at affordable rates.

Just keep a few tips in mind and the car of your dreams will turn into reality!

We at Greater Central Texas Federal Credit Union provide cheap and quick secured car loans, for used car as well as the new ones. For more details, kindly visit us at 3305 E Elms Road, Killeen, TX 76542 or call us at 254-690-2274.

If you are looking for auto loans for a short-term period at competitive interest rates, then approaching a credit union could be your best bet. For those who are new to the concept of credit unions as financial institutions for borrowing money, it is important to know that these are formed by a group of people with some common link such as members of a church, business, etc. The members pool in their assets for the purpose of providing loans to any one of the members who need the money. Credit unions are becoming a favorite among those willing to buy cars on the basis of a loan as they are very convenient and pocket friendly.

Here are some of the top reasons due to which getting an auto loan from a credit union is a smarter choice today:

• Personalized attention: Credit unions being smaller organizations than other financial institutions offer faster services to their members and even accommodate minor changes in the scheme of repayment.  There is always some scope for a member to negotiate on the rate of interest and even to get some extra time for the repayment.
• Easy availability of car loans: Fluctuations in the economic status have made financial institutions quite aggressive when it comes to offering money for loans. However, credit unions are far more relaxed when it comes to giving auto loans to their members and are not affected by the economic conditions as they always have a good amount of funds and enjoy good relations with car dealers.
• Competitive rates of interest and relaxed terms and conditions: It is a well-known fact that the rates of interest offered by credit unions on auto loans are lesser than that of other financial institutions. These institutions are also flexible when it comes to their terms and conditions, as they are sensitive to any problems that their members could be facing in repaying the loan.
• Simple loan process: Getting an auto loan from a credit union is very simple and no longer requires a member to sit down with a loan officer to complete the formalities. You can apply for the loan at a participating dealership, over the phone and even online as per your convenience.
• Perks: Members of credit unions enjoy perks that other customers do not have access to such as low interest rates and special deals.

For cheap auto loans in Central Texas, visit us at Greater Central Texas Federal Credit Union. We are located at 3305 E Elms Road, Killeen, TX 76542. We can also be contacted at 254-690-2274.