• Sale Agreement: Before you apply for a home loan with your credit union, it is requisite to have the sale agreement or evidence of deposit. You will need to provide the registered title and location of the relevant property for the pre-approval procedure.
• Salary Verification Letter: Whether you are a salaried person or self-employed, you need to provide your salary and income verification letter. You need to furnish pay stubs for at least a month’s period for the loan. You also need to attach the recent W-2 statements.
• Tax Returns: To apply for the home loan, the credit union requires you to provide your completed tax returns including schedules and statements. You need to offer certificate of payment of taxes.
• ID proof: You must add a copy of your date of birth certificates along with other ID proofs, as they are crucial for the verification of the identity.
• Attach Credit Report: Your credit score is an important deciding factor, as it will determine the amount of loan that you can borrow from the credit union and the rate of interest that you will have to pay. Check your credit file before applying for the home 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