6 Reasons to Get Your Car Loan at a Credit Union

6 REASONS TO GET YOUR CAR LOAN AT A CREDIT UNION

Ifyou'rethinkingaboutbuyinganeworusedcar,youmayalsoconsidertakingoutacarloan.Don'tlimityourfinancing optionstonationalbanksorcarfinancecompanies.There'sanothertypeoflenderthatmanyindividualsoftenoverlook whenhuntingforacarloan:creditunions.Thesearenonprofitorganizationsthatoperatelikebanksbutofferexcellent

money-savingdeals.Herearesixreasonswhyyou'llbebetteroffgettingyourcarloanatacreditunion.

1 Carloansofferedatcreditunionstypicallyhave aninterestratethatismuchlowerthanthe averagerateatcompetitorbanks.Forinstance, theaveragerateofanautoloanforanewcarin SantaFeof$30,000wasrecently1.5%lowerthan abankrate.Withacreditunionloan,youmaybe abletosaveatleast$1,100overthelifeofyour loan!(Dependentonyourcreditscore.)

2 Creditunionsworktoofferalloftheirmembers excellentcustomerservice.Memberstendtohaveamore personableexperiencewhentakingouttheirautoloan becausethedecisionsaremadebyourstaffinsteadofa corporateoffice.There'smoreflexibilityintheunderwriting process,andyoucanopenlyreviewyourfinancialsituation andrepaymentoptions.

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4 Ifyou'vehadcreditproblemsbefore,acreditunionmight bemorewillingtolistentoyourstorythanabank.Many creditunionsarereadytolistentotheuniquesituations andneedsofthemembers,andifyou'reworriedaboutnot gettingapprovedbecauseofyourcredithistory,consider approachingacreditunionfirst.

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Inthepast,membershadtovisitabranchandapplyfor theloanface-to-facewithaloanofficer.Today,loan applicationscanbecompletedonline,overthephone,or atanautodealership.Also,acreditunionmaybewillingto makesomeadjustmentsthatabankwouldn't.Makingthe entireprocessmucheasieranduser-friendly.

6 Inadditiontobeingmember-owned,creditunionsoffer thelowestform ofautoloaninterestrates.Eachoneofour creditunionfinancialproductshasflexibleloanoptions, lowerfees,andahigheryieldofsavings.Ifyou'reinthe marketforanautoloaninEspa?ola,WhiteRock,SantaFe, LosAlamos,andNorthernNewMexico,looknofurther thanDelNorteCreditUnion.Contactustodaytospeak withaloanofficer.

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