The average cost of a new vehicle today is around $30,000.
The purchase of a car likely will be the second largest expenditure you have, second only to the purchase of a home. Whether you desire the shiny, brand new one, or if you are content with finding a reliable used one, we want to help you to get the most for your money.
Here are five reasons it makes more sense to get your loan through us.
- With us, you have a better chance of getting your loan approved. Even though the
- We have lower rates. A five-year term is the most common loan term for a new or used car, and rates at a credit union are typically much lower than the average rate at a competitor bank. The savings in interest alone is a major reason to consider this financing. Just think of what you can do with that money.
- We provide personalized service. Because we are a non-for-profit organization and work to provide members with high-quality customer service, operational decisions are made by a group of volunteer board members rather than a corporate office. You can openly discuss your concerns about your loan, talk about flexible repayment options and review your financial situation with a dedicated professional. This can alleviate some of the pressure of applying and securing financing for your
- We offer educational resources. Many credit unions will provide information such as financing options and how to make the best decisions when assessing the value of your car purchase. If you’re a first-time car buyer and apprehensive about the loan process, you can turn to a credit union for unbiased answers.
- We offer a non-sales approach. Unlike commercial banks, which often grant their lenders bonuses or some type of compensation for the loans they get approved, credit unions, as not-for-profit financial institutions, work for their members and aren’t driven to sell you anything that equates to extra money in their pocket.
All profits from members end up going back to them in the form of lower rates on financial products and more flexible loan options. If you don’t like the pressure of working with lenders from a commercial bank, a credit union is the answer.
Pick Your Rate
But hurry in, because Pick Your Rate won’t last long!
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