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.

Buying a car is an absolutely exciting and refreshing experience for any individual. But when it comes to getting a loan for the same, you could find yourself in a dilemma over the multitude of auto financing options available in the market. Obviously, you are looking for something that gives you the best in terms of both savings and lower interest rates. So your best bet to get a cheap auto loan is through Greater Central Texas Federal Credit Union.

Located in Killeen TX, this credit union is a non-profit financial organization, formed by a group of members who share a common bond, and belong to the same region. The members here share benefits with one another in the form of low interest rates on loans and similar such schemes.

• Read on to know more about the benefits of a credit union over other conventional ways of procuring auto loans, through banks for instance.
• If you choose a credit union while you hunt for the lowest used car loan, a credit union is the best way to go about it. The primary benefit of doing so is a favorable rate of interest that does not eat too much into your savings. This basically implies that you would be paying a lower EMI. In addition, you will also observe that over a period of time, you ultimately have to pay a lower amount of money as interest.
• Getting a loan through a credit union is also a very convenient option. Once you are a member of the union, getting a loan is a matter of a few simple steps. The entire procedure is secure as well. In addition, you can also be assured of the best customer service. You get a loan for your dream vehicle at very competitive rates. The best part is, a credit union would not charge any additional fees or hidden costs, as is the case with other financial institutions such as banks.
• A credit union also provides you with the flexibility of deciding upon the period for repayment of your auto loan. The lesser the duration in which you repay the amount, lesser would be the overall amount that you would be paying over the entire period. This can be attributed to the low interest that you would be required to pay back to the union.

So if you are looking for an auto loan in Killeen, then definitely go in for Greater Central Texas Federal Credit Union to get the best interest rates, lower EMIs, and a user-friendly experience.