Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

Secured Loans: What You Need To Know

28. September 2019 Administrator Blog (0)



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GCTFCU Blog | Do’s And Don’ts About Auto Financing
Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

Do’s And Don’ts About Auto Financing

30. November 2011 Administrator (0)

Auto Financing relates to the financing of the auto vehicles, especially for those buyers who are not able to buy the vehicle of their choice due to the high prices of the vehicle. Auto financing provides them with the auto loans, thereby enabling them to own the cars of their choice instantly and pay for it later. These auto loans help in managing the monthly budget by taking off the burden of paying the huge amount of the vehicle instantly. This is done by levying a reasonable rate of interest which is paid as monthly installments for a pre-decided period of time to the auto loan provider.

Though, auto financing provides you with an easy option of getting the vehicle without worrying about its high prices, there are some do’s and don’ts about auto financing which you should always keep in mind. Some of these do’s and don’ts can be described as under:

Some Do’s about Auto Financing

  • Do introspect and try to analyze your personal financial strength and the credit history, before you could decide about taking an auto loan. It is essential to know what your pocket allows without difficulty at a later stage.
  • Do research well beforehand and decide about the vehicle you intend to buy and the respective prices that are available in the market. Also research about the rate of interests that are offered by the different financial institutions and banks for the auto loans.
  • Do negotiate and try to bargain with the interest rates with the auto loan service providers. Many banks offer low interest rates to grab the attention of the customers but levy hidden charges. Therefore, it becomes important to check and negotiate properly.
  • Do verify the documentations of the auto loans you are applying for and the respective legal formalities related to it. It is also necessary to verify the loan provider which may be a bank, financial institution or private company.

Some Don’ts about Auto Financing  

  • Don’t overdo your budget as it would prove to be a bad deal later on. It is necessary to keep aside some cash or funds for the times of emergency or financial ups and downs.
  • Don’t go for very high rates of interest as it would create problems in the long run.
  • Don’t make decisions in a hurry as it would hamper your loan process as well as your financial position, which may suffer losses.
  • Don’t settle over a deal without thinking over its pros and cons. The deal may look good for a while but it is should be workable in the long run as well.  

For more details on wide range of auto loans and auto financing in all credit situations, you can contact us at Greater Central Texas Federal Credit Union, 3305 E Elms Road, Killeen, TX 76542 or call us at 254-690-2274.

72 Month Auto Financing - Auto Loan in Killeen, Tx

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GCTFCU Blog | Home Loan Tips: Credit Union Killeen, TX
Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

Home Loan Tips: Credit Union Killeen, TX

6. October 2015 Administrator Home Loans (0)
Buying a house is a huge and one time investment for most people. Therefore, it is important to choose a home loan provider wisely so that this liability can be eased to some extent. With so many financing options available, it can be difficult to choose the right one. A credit union is a reliable option that can provide you the loan amount at affordable interest rates, the lowering your monthly repayment amount.

Read on to know about some tips for getting a home loan from a credit union.

  • Research thoroughly: It is suggested to carry out complete research before applying for a home loan. Compare the interest rates of various financial institutions so that you are able to find a plan with affordable interest rates, making it easier to repay the loan. Acquaint yourself with the jargons used in home loan agreements so you can understand the terms and conditions properly.  
  • Check your credit score: Your credit score is an important point of reference when it comes to getting a home loan approval. It helps to determine your consistency in repaying loans, paying taxes etc. The interest rate you are likely to be quoted depends a lot upon your credit score.
  • Decide the monthly installment: It is advisable to apply for a loan that fits your budget. Evaluate your monthly income from all sources and the necessary expenditures to determine the amount that you can spare towards your home loan repayment.  
  • Prepare documents: Make sure you have all the required documents at hand before applying for the home loan. The lender may ask for the closing disclosure from previous home sale (if applicable), alimony funds, relocation agreement and retirement statement etc. You should be prepared with all the documents beforehand in order to make the process hassle-free
  • Read the agreement: You must read each and every point mentioned in the home loan agreement thoroughly. The loan tenure, interest rates, EMI amount, due date for payment and other important details should be clearly mentioned therein. Clear all your doubts and if there is anything that you do not understand, make sure you ask the agent to avoid any confusion later on.
We, at Greater Central Texas Federal Credit Union, provide affordable home loans in Killeen, TX. We offer low interest rate, easy repayment options and flexible loan plans to suit the requirements of the clients. For more information, you can call us at (254) 690 – 2274 or visit our office at 3305 E. Elms Rd., Killeen, TX  76542.

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