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

If you are looking for a home loan, then there are a number of reasons that you should consider home loan from a credit union. For all those who are not aware about this option, credit unions are financial, non-profit organizations that offer checking and saving accounts, accept deposits, and provide credits for buying vehicles, homes, etc. The credit unions are member owned financial cooperatives that are entrusted with the responsibility of building up the local community. These unions do not have to pay taxes or other operating costs like other profit earning organizations.

Credit unions are exempted from most of the federal and state taxes and are carefully regulated.  These unions do not have to pay taxes or other operating costs, unlike other profit earning organizations, which helps them provide better services to their members. The National Credit Union Administration keeps a watch on all the credit unions and insures that the interest of the members is safeguarded. Credit unions have minimum operating costs and this makes them offer home loans at low mortgage rates as well as low closing costs which provides them a competitive edge over other organizations.

There are a number of benefits of getting home loan from credit unions and some of them are

•  No fee
• Low mortgage interest rates
• Quick closings
• Personalized service

Most of the credit unions offer a full range of mortgage solutions for buying a home, refinancing and even renovating a home. The credit union does a credit check once you join it and if you have a consistent income and maintain good credit then you can easily qualify for a home loan. Unlike conventional loans, the credit unions do not indulge in many formalities and follow lenient underwriting guidelines. To avail home loan from a credit union, firstly you will need to find a union that can offer you a reliable banking experience. You should research extensively to find a union that can help you and suit your requirements. You can enquire and find out about all the services offered by the credit union. Once you become a member of the credit union you will be provided with financial support and personalized services. By applying for a loan at a credit union you can be sure of easier credit check, low interest rates and personalized customer interaction.

 To avail home loan from a credit union, first you need to find a union that can offer you a reliable banking experience. Research extensively to find a union that can help you and suit your requirements. Find out about all the services offered by the credit union. Once you become a member of the credit union, you can get financial support and personalized services. Unlike conventional loans, the credit unions do not indulge in many formalities and follow lenient underwriting guidelines.