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.

Owning a car may be a dream for many but not everyone can easily achieve it. Secured car loans are specially designed for those short of sufficient funds to purchase their own car. The principle on which such loans work is pretty simple. The borrower has to pledge the car he or she wishes to purchase as collateral against the loan amount. Such loans suit the needs of any kind of buyer. One can purchase a new or used car depending on the budget and choice.

A borrower can attain up to 90% of the value of the car and that too for a period of 2 to 7 years. Lending companies are quite flexible when it comes to secured car loans. They are ready to negotiate on the down payment and rates of interest. Talking of the rate of interest, it varies from car to car and is generally lower in such loans because the car is being used as security against the loan. This makes it easier for the borrower to stretch the repayment to a longer span of time.

You can even get a loan on a used car provided it is in good condition and not very old. Lending companies usually prefer cars that are not older than three years. The rate of interest on the loan will also depend on the condition of the car. Interest rates may be fixed or variable depending on what suits the borrower best. Fixed rates of interest are great for those who want to know exactly how much they are expected to pay each month.
The best thing about these loans is that they are very easy on the borrower. As a borrower, you get to decide whether you would like to repay the loan on a weekly, fortnightly, or monthly basis. You can negotiate on virtually anything with the lender. If you happen to have some spare cash and wish to repay an extra sum of money, you can easily do so and save on the interest to be paid.

A secured car loan is definitely the best bet for owning a car easily and quickly. It’s got immense benefits to offer to the borrower, the biggest being the ease and flexibility with which it gets repaid. However, as a borrower, it would be wise if you clarify some important points with the lender before entering into a contract. The most important things to confirm would be:-

• The rate of interest
• The duration of repayment
• The total cost over the entire term of the loan
• Provision for extra repayments
• Penalties on failure to repay etc.

We at Greater Central Texas Federal Credit Union provide you quick and cheapest secured car loans in Texas. For more information about our services, visit us at 3305 E Elms Road, Killeen, TX 76542 or call us at 254-690-2274

Secured Auto Loan - Cheap Auto Loan