WHY YOU SHOULD FINANCE YOUR NEXT CAR LOAN AT YOUR CREDIT UNION
When shopping for a new set of wheels, your first stop should be right here, at Valex Federal Credit Union. Though many people think they should start their process on the dealer’s lot, you’ll enjoy a lower rate, a simpler loan application and other benefits by choosing to finance your car with your credit union.
This is why people are increasingly choosing to finance their cars directly through credit unions. In fact, auto loans comprise more than a third of all the active loans across the 5,600 credit unions in the U.S.
Getting an auto loan with your credit union is a completely different experience than you would find if you were to just finance through a dealership. Why? Dealerships naturally want to make money, but we exist to serve your best interest.
When you walk into Valex Federal Credit Union with the intention of taking out an auto loan, you’ll be dealing with people who know who you are and what your financial reality is like. No one will try to push you into a loan you can’t afford. We are here to help!
The process of applying for a Valex Federal Credit Union Auto Loan is simple, quick, and easy. You can even apply for a loan online or over the phone. Also, as a member of Valex Federal Credit Union, you already have a head start on getting that pre-approval, since we already have so much of your information.
One of the biggest advantages you’ll have when financing an auto loan through your credit union, though, is a lower APR (Annual Percentage Rate). Because you’re working directly with the lender, you’ll only hear the actual rate we offer instead of a marked-up rate the car dealer may present to you.
Also, as member-owned and operated institutions, credit unions famously offer loan rates that are consistently lower than those offered by large lenders and banks. In fact, according to Bankrate, the average APR on a credit union auto loan in the beginning of 2019 was a full point lower than the rates offered by banks.
Another key advantage you’ll enjoy from a credit union-financed auto loan is a more relaxed setting when determining how much you can afford to pay each month toward your new car. There’s no rush and no pressure when you’re sitting at Valex Federal Credit Union and working out your budget. You aren’t standing in the dealer’s lot surrounded by cars you wish you could afford, feeling pressured to make a decision you may later come to regret.