• They are Non-Profit Organizations: Credit unions accept deposits from members and offer loans without any intention of making profits. Due to the fact that they are non-profit organizations, they offer loans at low interest rates and higher rates for deposits.
• Operating Principles: Credit unions operate with the intention of pooling financial resources for the benefit of members. Their operating principles revolve around voluntary membership, non-discrimination, serving members, building financial stability, social responsibility and democratic control.
• Services Provided: Some of the services offered by most credit unions include but are not limited to payroll deduction, online access, MasterCard Gift Cards, ACH origination, ATM, Bill Pay, Wire Transfer, Direct Deposit, Notary Service, savings and investments, lending services (secured and unsecured loans), Traditional and Roth IRAs, Club accounts (Christmas and Vacation), Overdraft protection and more.
• Reasons For Joining A Credit Union: Credit union members enjoy benefits such as low fees, higher interest rates, excellent customer service, member-centric services, community support, security of deposits (regulation by the National Credit Union Administration; every account is insured up to $250,000), financial literacy and independence, easy qualification, easily approachable in spite of a low credit score etc.

• Determine Your Budget: Start with making a budget so as to choose the right auto loan in terms of pricing (monthly payments).
• Get Pre-Approved: Even though your credit union will conduct a credit score check on its own, it is advisable to get the loan pre-approved from the credit union. This helps in determining the APR, amount that you can borrow and the duration of the loan. Pre-approval improves negotiation and increases the chances of getting the most appropriate deal for your budget.
• Identity Proof: This includes a driver's license, a government-issued I.D. with your name and photograph.
• Income Proof: This is required to see whether you will be able to repay the auto loan. A credit union assesses one’s assets, income, credit history, monthly expenses, employment, etc. You may be required to show your pay stubs of the previous month, tax forms, W-2 or W-4.
• Residence Proof: Credit unions are required by the Federal law to provide information about a client’s residence proof. For this, you may be required to produce documents such as a utility bill, medical bill, tax bill, cell phone bill, lease agreement, mortgage statement, bank statement, renters or homeowners insurance policy, etc.
• Credit And Bank History: The credit union will review your credit history along with your credit accounts, credit limits, account balances, etc.
• Debt-to-Income Ratio: Late payments and total debt obligations, unpaid bills and collections, foreclosures, etc. are considered by credit unions to determine debt to income ratio.
• Down Payment: An important part of preparing for an auto loan is to determine the mode by which you will pay the down payment. This could be by cash, credit card, debit card, personal check, etc.

• Check Your Credit: Having a good credit score is of high importance for borrowing a secured vehicle loan. With a higher credit score and a good credit history, the borrower may be entitled to lower interest rates and convenient loan terms. As long as the borrower pays bills on time, settles his debts, and avoids penalties, he can have a good credit score.  Also, it is important to review the credit report to look for any unusual activity. Check for incorrect balances and late payments. If credit score is low, take steps to improve it before applying for the vehicle loan.
• Know The Budget: It is essential to have a predetermined budget and know how the budget for buying a car. The borrower should be sure that the vehicle’s cost is aligned with other financial goals. To determine the budget subtract usual monthly expenses from monthly income after deducting taxes. Also, include intended monthly savings in the expenses.
• Determine Affordability: After understanding current financial situation, it is required to decide on a reasonable monthly vehicle payment. Check with the loan officer to figure out the maximum loan amount that can be afforded. It should include the monthly payments, interest rate, and the loan period.
• Get Preapproved: It is important to research for the terms of the loan and get preapproved from the credit union. Getting preapproved for a vehicle loan will help expedite the process, determine eligibility, and find the right price.

• Convenience: Online bill pay service makes it easier to organize bills and pay them before they are due. If an individual juggles rent/mortgage, cable, electricity, credit card payments and more; online bill pay can save time and help to avoid late fees. There is no requirement to log into several websites and remember multiple passwords. Credit unions also offer an option to pre-schedule payments on their due date. Whether the bills are received electronically or by mail, members can utilize an online facility to schedule payments.
• Security: Credit unions use the most suitable security protocols to keep their online transactions secure. Several methods are incorporated to keep member information safe including security layers, etc.
• Simplified Money Management: Making online payments can help members check account balance and determine whether the bill payment has been scheduled and paid. Other benefits may include searching for specific payments online, access to online payment history, setting up email alerts for payments, etc.
• Environmental Advantage: One of the biggest benefits of paying bills online is eliminating paper waste. Paying bills online will reduce the use of paper checks. In addition to eliminating paper waste, it also eliminates the costs of postage and envelopes.
• Easy Consolidation: Using an online payment facility will allow consolidating bills in one place as they are posted from one account each month.
• Organization: It is certainly possible to lose track of finances, but online bill payments help individuals to organize their records. With all the bills and payments organized at one single place, members can easily know if something is posted incorrectly.
• Saves Time: Once the electronic bill payment service is set up online, it takes just minutes to pay the bills. Increasingly people are shifting to electronic statements and making use of online bill pay, thus saving themselves time and money.

When you are out to buy a car then it is advisable to first concentrate on the financing part and then move ahead. While it is believed that the length of the loan should be dependent on the time for which the buyer intends to keep the car, 72 month auto loans have come out to be quite popular in Texas these days. Some of the advantages of 72 month Auto Loans in Texas are:

• A 72 month auto loan means that the buyer will have to make 72 payments as loan installments to repay the loan and before he can legitimately become the owner of the car. It is advantageous as you are required to repay the loan in appropriate time which is neither too short nor too long.

• As the loan tenure is long, successful repayment helps in building up your credit worthiness.

• As the Auto loan’s monthly installment is not so high, you can buy a better vehicle of your choice even though it costs a bit more.

• There might be a change in the lending rate and the buyer just might happen to benefit from these changes.

• Also, this 72 month auto loan can be a very good option for some driver who has a fixed income, small savings and a desire to make a hefty investment for a long period of time. Such an Auto loan will be highly useful for such a buyer as it will result in small monthly incomes and will help him save some money from his income.

Many drivers are today looking for a solution to high loan rates. 72 month Auto Loans is the answer to their problems as it helps lower the monthly installment which is to be paid and lengthens the time for which this amount is paid on a monthly basis.

We are pioneers in providing Auto Loans in Texas. For further details feel; free to contact us at - Greater Central Texas Federal Credit Union 3305 E Elms Road, Killeen, TX 76542. You can also call us at 254-690-2274.

Cheap Auto Loan - 72 Month Auto Financing

Gone are the days when you had to hop from one dealership to another to choose a car of your choice. In the modern era; technology has come to everyone’s rescue. You can now look for a car of your choice online and book it likewise. You can also get easy Auto loans to support your purchase. But if you are willing to buy your next car, there are a few things your must be sure of, before you do so.

• Cars have a known depreciation rate. Therefore before you buy your next car, calculate if the interest you pay on your car loan is feasible for you or not. Also note that the longer time you take to pay it off, the more will the interest be.

• Before you decide or finalize the cost of your new car it will be better to calculate the trade-in value of your current car. You must be aware of the same so that you know how much to expect for it, from the dealer.

• You must research well about the interest rates on your auto loans. You might often have seen that when auto companies advertize they tell you how much you will have to pay every month. However the trick here is that, the interest rate is where most of the cost lies. It does not matter what you pay every month but infact what matters is how much you pay over the years.

• Unless your income increases, you should not take a new auto loan until the old one is paid off. However if you are someone who has a fetish for new cars then you must watch out for the sharp depreciation in cars and the interest costs associated with it.

• If you buy a new car but fail to afford it, this could be a troublesome situation. So it is highly suggested that you beforehand calculate and watch for the operating expenses, insurance, gas mileage, annual excise taxes, and other costs of ownership.

For any details regarding auto loans, contact us at Greater Central Texas Federal Credit Union at 3305 E Elms Road, Killeen, TX 76542, Phone: 254-690-2274.

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The purchase of a new car can be a complicated decision which requires a lot of meticulous planning. There are several things that you need to consider while buying a new vehicle, as a significant amount of monetary investment is required for such a purchase. Several questions that an average consumer is likely to face have been mentioned below:

• The first thing that you need to think about is whether you should go in for a brand new or a second hand model. This decision depends largely on the financial options available to you to finance the vehicle. If you have sources of funds at your disposal or are likely to get quickly approved for a large loan sum, you can opt for a new vehicle. However, if you are on quite a low budget and are unlikely to obtain a loan easily, it is better to stick to a used one. There are several dealerships that will be able to provide used cars in excellent condition to customers based in Texas.

• If you are taking an auto loan, the kind of car that you purchase is going to have a significant impact on the monthly premium amount that you will have to contribute towards your auto loan. If you go in for a high end car model, your monthly premium is going to be high while if a vehicle in the medium range is opted for, the monthly payment that you have to make will be a reduced one.

• If you are taking an auto loan to finance your vehicle in the state of Texas, another aspect that you need to consider is the kind of credit that you enjoy. Your credit history is thoroughly examined by the loan provider before granting or approving a vehicular loan for you. Those with a low credit rating generally have to pay high interest rates towards auto loans. So, if you have bad credit, it is advisable to wait for a while, improve your credit ratings and then apply for a car loan.

For all kinds of Auto Loans, contact us at Greater Central Texas Federal Credit Union at 3305 E Elms Road Killeen, TX 76542 or give us a ring at 254-690-2274.

Cheap Auto Loan - 72 Month Auto Financing

Car loans are the most important monthly expense for a majority of people. People get attracted to new cars and usually follow the general trend of paying lesser amount as down payment and more monthly payments. In most of the cases, it is impossible for the car to be refinanced. One possible way out that can help you to lower your monthly car payment without even refinancing the car is private debt restructure.

• Think of a solid reason to get a restructure. Often the lenders only grant these so called ‘hardship loans’ in the case of an emergency or financial crisis like medical emergency, bankruptcy or loss of a job.
• Work out your own DIR or debt to income ratio. A high ratio will cause you to face tough times to make monthly payments. To calculate your DIR, divide all your monthly expenses with your gross monthly earnings. For instance, your income is $2000 and your monthly expenses (including the car payments) are $1000. So, your DIR would be 50 per cent, which is considered to be very high by the lenders.
• Determine the current rate of interest on your auto loan. Make out what would be the interest rate that you can easily manage. It is very important to be very clear before you request for any modification in the rate of interest.
• Drop a line to your lender to know about the hardship plan. Make sure that you put forward all the required documents in support of your claim like bank statements and income documents.
• Make sure that all the proposals of the hardship plan are in writing and that the terms and conditions will be of assistance your present financial condition.
• Be prepared to make changes in your personal budget and expenditure so that you are able to pay back a heavy car loan.

To avail cheap auto loans in Central Texas, contact us at Greater Central Texas Federal Credit Union. Our unique loan plans can assist you in getting lowest rates for auto loans. We can be contacted at 254-690-2274.

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It is very important that you act smartly in a deal to buy a car or you will end up losing much more money that you actually should. Generally, most of the car buyers arrange money before buying a new car. This scheme, known as auto financing, means the way you are going to pay for your new car. You can get your car financed by getting an auto loan which you can use in two ways: either pay the money to buy the car, or use it for lease.

If you have purchased a car before, you might know that the loan provider will check your credit report before doing any sort of deal with you. However, this is not the only requisite for taking an auto loan. Auto dealer will also try his best to appease the deal and give you special offers on car financing. But, you need to be extremely watchful.

Remember, you should be well prepared for this. Consider all the options of auto financing before visiting the dealer so that you can manage your car loan as well as your credit. Bear in mind that no deal is permanent until you have a hard copy for it. When you are done with the negotiations, do get the sales contract prepared.

Overstated interest rates
Be careful to verify your monthly payments as well as the interest rates. Different car buyers are charged with different rates of interest depending upon their credit history. If you have a poor credit history, you will be charged a high rate of interest and this is where the car dealer profits from your loan.

Independent auto financing
If you have a pre-approved auto financing, you can go up to the car dealer and purchase the car as a ‘cash buyer’. It would be good if you go for independent auto financing to buy a new car.

To get Auto Loans in Central Texas, visit Greater Central Texas Federal Credit Union. We have amazing deals on auto loans for our customers. We are located in Killeen, TX. You can also call us at Phone: 254-690-2274).

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For the families that have more than one vehicle, it is logical to get your car loans consolidated. Consolidation of car loans is a process through which you can combine all your vehicle loans into one payment. Car loan consolidation can be very beneficial to you if:

• You want a lower rate of interest
• You have to pay several loan installments in one month
• You want to cut down your monthly payment

Requirements for loan consolidation

• Income proof- Most of the lenders seek a job of at least 6 months. However, long term employment would increase your credit worth. Gather at least six months pay statements to present for the verification of your job and income.
• Insurance- Make sure that you all the vehicles that you want to cover under the consolidated loan are insured. Some insurance companies also offer discount on multiple vehicles.
• Residence proof- A stable residency will increase your credit worth. You should be able to put forward at least six months utility bills for your address and a proof of identity.
• Credit history - It is important that you have knowledge about your credit rating. Most of the time, you can be rejected for a car loan only because of a poor credit history. It’s not that you can’t consolidate your loans without a good credit history, but do not expect discounted rates of interest.

Benefits of consolidating car loans

• A person who is paying large monthly payments can benefit from loan consolidation by increasing the time period of the loan. However, increased time period means more interest payment at the end of the day.
• For the people who have multiple loans, consolidation can help to keep a record of the due monthly installments and pay them in time.

As a concluding point, car loan consolidation depends upon the situation of each and every borrower. Those who are already laden with debt should think before opting for consolidation.

To obtain cheap and secured loans easily and quickly, consider Greater Central Texas Federal Credit Union only. For any assistance, call us at 254-690-2274.

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It is not a simple task to buy a car for the first time. Most of the people seem to be confused and puzzled about where to go to get a car loan. But, it is very easy to find a loan for a first time car buyer. Given here are some easy but important tips that can help you in getting a loan and buy a new car for yourself.

• Do not even try to lie about your monthly expenditures to give the impression that you can meet the monthly installments. It would be good if you accurately determine how much you can actually afford to borrow. This way you can modify your application according to your needs. 

• Try to make as much down payment as you can. This will help you to reduce your monthly payments for the loan. While applying for a loan, try to convince the lender as much as possible. Simply by showing an effort to reduce the monthly payment, you can make a better impression on the lender than those who apply for the loan blindly.

• Find out a lender that specialize in granting loan to people that do not have any credit history. You are likely to have a higher chance of success in getting a loan than when you apply in a bank or so. However, your ability to repay the loan will be assessed by these lenders also.

• Do make sure you find out all the hidden charges in the deal. Also find out if there are any pre-closure charges levied by the lender in case you wish to pay up loan amount to lender before the agreed term.

Thus, following these sure shot tips will definitely get you a good deal on loan to buy a car for the first time. To obtain cheap auto loans in Central Texas do visit Greater Central Texas Federal Credit Union. We have amazing deals on auto loans for our customers. Call us at phone: 254-690-2274. We are situated at Killeen, TX.

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Central Texas offers a variety of options for those who wish to obtain auto loans for financing new or old vehicles. There are different sources of loans to suit different purposes. There are certain lenders that may provide loans with low rates of interest that may involve higher monthly installments. On the other hand, you may also be able to find money lending institutions or individual lenders who may give out loans that make it possible for you to pay in small installment amounts but that involve higher interest rates. The option that you choose is largely dependent on your particular requirements and your earnings.

There are several factors that can determine rates of interest on purchase of vehicles in the state of Texas. Some of them have been enumerated below:

• The interest rate is largely dependent on the kind of car that you decide to buy. If you are purchasing a car that belongs to the high end category and is highly priced, you may be charged a slightly higher interest rate than if you go in for a medium range or a second hand car.

• The time period within which you are willing to pay back the money that you borrowed also has a major role to play in determining the rates of interest for your loan. Generally, it has been observed that the longer the period of the loan, the rate of interest is lower. On the other hand, if the loan term is only a few months, you may be able to repay the loan at a little higher rate of interest.

• The most important factor that influences interest rates when it comes to auto loans is your previous record in repaying loans that you may have taken in the past. Your previous repayment has a major effect on your credit ratings information; which is available with most financial institutions that you may approach for loans. If you have been consistent in repaying all previous loans, you are likely to enjoy a good credit rating and thus may be able to obtain cheaper interest rates.

To get great deals on Auto Loans in Central Texas, visit Greater Central Texas Federal Credit Union. We are located in Killeen, Texas (Phone: 254-690-2274)

Cheap Auto Loan - 72 Month Auto Financing

Every person has a desire to have his own car. However, due to a number of reasons, it is not possible for everyone to afford a car. One reason could be that you cannot manage to take out some money from your monthly budget, or you do not want to shell out money for a car due to some other future commitments. In such circumstances, long term auto loans can be of great help. These loans put forward longer time for the repayment of the loan, thus, not putting any burden on your monthly budget.

The long term auto loans are a bit different from other loans. You get enough time for repaying your loan amount. There are very low monthly installments, so you need not worry about making much contraction in your monthly expenses. These loans are also available in secured as well as unsecured forms.

You can considerably reduce your rate of interest with the secured loans. On the contrary, the unsecured loans have a fairly lower repayment term and higher rate of interest as compared to the secured loans. You need to place something as collateral if you wan to have a secured loan. Due to the paperwork involved in this process, it may take some time. However, if you are in an immediate need of loan, you can opt for the unsecured loans.

These loans may also require you to pay a certain amount of down payment. Your can lower your interest rates by making a bigger down payment. Most often, people try to pay 25 to 30 per cent of the cost of the car as a down payment.

You can search the market for the most bendable terms and conditions. There are also different repayment terms for long term auto loans, so you can choose the one that is best suited to your needs.

For auto loans in Central Texas, do visit Greater Central Texas Federal Credit Union. We have amazing deals on auto loans for our customers. Call us at Phone: 254-690-2274. We are located at Killeen, Texas.

Cheap Auto Loan - 72 Month Auto Financing

There are many options for obtaining auto loans for those who wish to purchase a vehicle in the state of Texas. Texas has a well developed banking system that provides competitive interest rates to car buyers along with reasonable terms and conditions. The only requirement for qualifying for a loan in this state is to have a sound credit rating. It can get quite difficult to obtain a loan if you have a negative credit history. Thus the first thing that should be done in this case is to go about improving your credit ratings so that you qualify for auto loans in the state of Texas.

There are several things that can be done in order to improve your credit like repaying existing loans in a timely manner, not taking loans for an amount that you will be unable to repay, asking a person to stand in as surety, etc. There are credit counseling services provided by many experienced companies in Texas that can guide you regarding the best methods to improve credit in a short time period.

The kind of car that you are purchasing can also have a direct bearing on whether you are granted a loan by the lending institution or not. If you have a great credit rating, you can choose an expensive new car and still obtain approval from a bank for your auto loan. However, in case your credit is bad, you may have to settle for a second hand or a low priced car in order to qualify for a loan.

Before going ahead with an auto loan, you should conduct an online survey in order to find out the prevailing auto loan rates in Texas. This figure should then be compared to the actual rates being offered to you by banks in the area. You will also need to have a fair idea about the amount of down payment you may have to provide in order to obtain the auto loan successfully. In most cases, the down payment tends to be around twenty percent provided you have a reasonable credit rating in the state. It may increase if you have low ratings.

For Lowest Used Car Loan interest rates in Texas, visit Greater Central Texas Federal Credit Union.

Lowest Used Car Loan - Secured Auto Loan