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Car Loan Tips

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Car Loan Tips

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  1. CAR LOAN TIPS CAR LOAN TIPS Buying your dream car is not a far-fetched reality anymore. Car loans offered by a credit union are an easy and affordable way to buy a car. Here are some simple tips that you can follow while applying for a car loan at a credit union. Check Your Credit Score Shop Around Get in touch with the credit unions to compare interest rates and other charges. Research online or get references from friends and family members. Take a look at your credit report and check your credit score. It is a one of the major determining factors for getting a specific interest rate on the car loan. Keep The Documents Ready Determine Your Budget Having the requisite paperwork done beforehand can save a lot of time when visiting the lender. The documents include income proofs, credit reports, employment details etc. Calculate your budget to know the amount of monthly installment you can afford. Stick to your budget as going overboard can cause difficulty in repaying the car loan. Read The Document Carefully Make A Down Payment Take the loan paperwork back home and read the finer details to ensure you don’t miss out on anything important. Pay attention to terms such as ‘variable interest rates’ and ‘pre- payment penalties’. When you make a down payment in the beginning of the loan term, the overall loan amount reduces, thereby cutting down the financial burden. Presented By Presented By www.gctfcu.net www.gctfcu.net Contact Greater Central Texas Federal Credit Union 3305 E. Elms Rd., Killeen, TX 76542 Call at: (254) 690 - 2274

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