Not many people have the cash to walk into a dealership and pay for a new car in cash (and if you do, major props to you!), so car loans are no stranger to most who have purchased a car; but the important question is who should you turn to when taking that loan out? A lot of people leave this option to the dealer to figure out, however sometimes that’s not your best option.
Before shopping for a car, you should take a look at your credit score for free using Trans Union, Experian and Equifax. Knowing your credit score will help you know exactly where you stand when searching for an auto loan instead of being surprised down the road. We also suggest checking with local credit unions first before bigger banks.
Applying for a loan through a credit union will give these advantages:
- Personalized service
- Lower rates
- Readily available educational resources
- Non-sales approach
- A better chance at being approved
When applying for an auto loan, you don’t want to settle. As with any loan, you will be making payments on it for a substantial amount of time and you’d rather have someone you’re comfortable working with rather than someone who only wants to collect your money.
To learn more or to have any questions answered, please contact one of our trained representatives at 866-292-7455 or feel free to fill out our Online Credit Application.