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

Unable To Afford Your Dream Car?

6. December 2011 Administrator (0)

There is a great diversity and variety in the number of car models available these days. A car has become a kind of a necessity in today’s life and owning your personal vehicle can prove to be quite a joyful experience while also making your life much simpler and easier. If you have had your eye on a new car model that is priced slightly on the higher side and thus is well out of your budget, you need not despair or compromise on a cheaper car model as we can help you obtain auto loans to fulfill your dreams. We offer our services in Texas and specialize in the area of auto loans.

The best thing about our process is that it is very easy to apply for the loan. You need not get into long paperwork and verifications to get your loan request approved. There is a step by step guided process showcased on our website that can help you obtain quotes simply by filling in your area code. There are several parameters that are considered while making the decision of whether to grant a particular client a loan or not. For this purpose, all applicants are required to answer a few simple questions and furnish relevant information so that we can be sure of our clients’ credentials and positively establish his/her identity. All this information helps us arrive at a decision and also helps generate interest rates for the loan in your particular case.

The amount of interest that you will have to pay differs on your financial profile as well as the make or model of the vehicle that you are purchasing. The price of the car is taken into account while formulating different interest rates that are appropriate for different applicants. The interest rates that we offer on our auto loans are much lower than those that can be obtained from other financial institutions in the vicinity. This makes us the most preferable company when it comes to obtaining Auto loans.

To procure secured auto loans comfortably and quickly, visit us at Greater Central Texas Federal Credit Union, 3305 E Elms Road, Killeen, TX 76542.We can also be contacted at 254-690-2274.

Lowest Used Car Loan - Secured Auto Loan

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GCTFCU Blog | What Are Credit Builder Loans
Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

What Are Credit Builder Loans

27. August 2021 Administrator Blog (0)
A credit builder loan is a type of loan that helps to improve one’s credit profile and resolve a low credit score. The loan consists of a small amount that can easily be repaid by an individual. This helps in establishing one’s credit worthiness and qualifying for higher loan amounts in future.

Following are some things to know about credit builder loans:

  • Types of Credit Builder Loans: The types of loans offered by most lenders include Pure Credit Builder Loan, Secured Credit Builder Loan and Unsecured Credit Builder Loan. In the first type, the amount of the loan is locked away in a savings account until the amount is paid. In the second, an amount in one’s savings account is used as security against the loan. The last type works as a normal loan and is easily available.
  • Where to Get the Loan: You can get these loans from financial institutions like credit unions. Such institutions offer a variety of loans at low interest rates. Consider researching credit unions in your area and contact an official for more information on the benefits of these loans.
  • The Process: A financial institution offering the loan will consider things such as your bank transactions, work contracts, financials, etc. to determine your credit worthiness. The amount of loan offered is usually a small one and lasts for a term of 6 months to one year. Upon the disbursement of the loan, one can start paying regular EMIs as in the case of normal loans.
  • How It Works: In this type of loan, the amount if loan offered is deposited into the borrower’s savings account. The amount deposited cannot be accessed till the amount of loan is paid back. So, on repaying the loan, one gets back the money deposited into a savings account. Ask your lender whether there is a provision for prepayment in case you need to access your funds for an emergency.
  • What to Consider: When buying a credit builder loan, some things to consider are administrative fee (for setting up an account), amount of money to deposit in a savings account, monthly payment, APR, whether the interest will be refunded, etc. Get in touch with the customer care department of a credit union in your area for these details.
  • Managing the Loan: When getting a credit builder loan, it is important to understand its terms and conditions before making a commitment. Pay attention to details like the term of loan, amount of payments to be made, due dates, APR and more. Also, consider the affordability of the loan and be disciplined with paying your installments in full and on time to improve your creditworthiness. 
Greater Central Texas Federal Credit Union offers Credit Builder Loans in Killeen, TX. To know more, visit 3305 E. Elms Rd., Killeen, TX  - 76542 or call at (254) 690 – 2274.
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