Saving Money: Credit Unions Can Save You Money on Your Auto Loans

Posted by


You May Beat Big Banks, But Not Car Deal Expert!

If you're looking the best auto loan and auto refinance loan rates, it's true that credit unions can save you money on your auto loans. But Car Deal Expert is even better!

When you’re looking for an auto loan or auto refinance loan, you want to find the best terms possible. First and foremost, that means you want an interest rate that isn’t going to destroy your finances for years. If your credit is near perfect, you have little to worry about. But most people bear a hefty load of debt. What rates and terms can you expect then?

If you’re dealing with a big bank, it means that if you’re approved at all, you’ll probably be paying a high APR and need to stretch payments out over a greater length of time. That’s a deadly combination that can conceivably cost you thousands of extra dollars. Mind you, credit unions can save you money on your auto loans when compared with big banks, but you have to meet some other qualifications. Primarily, you have to belong to whatever group your credit union of choice accepts, whether it is from a particular business, union, fraternity, church or geographic location. If you don’t belong, you’re left out in the cold.

Car Deal Expert Doesn’t Require a Membership

Numerous sources indicate that fewer than 20 percent of auto loans and auto refinance loans come from credit unions. Car Deal Expert invites those who are skeptical to give us a try! Even if you have less than perfect credit, you can apply for an auto loan from an extensive lending network that strives to bring you the best possible rates and terms for your credit situation. Not only that, but you can apply online from the comfort of your own home!

Don’t Roll Over for Banks… or Credit Unions!

Credit unions are a marked improvement when compared with giant, impersonal banking giants. Some people assume them must go to banks for auto loans and auto refinance loans because everyone else does it. That hasn’t been true for decades! Furthermore, while credit unions routinely beat the loan origination and processing fees and interest rates that most banks can offer even those with good credit, you still must meet their administrative requirements. Car Deal Expert has credit unions beat by a mile in this regard. Applying for auto loans with us is quick, easy and free of excessive requirements.

Car Deal Expert Says: Lower Monthly Payments Aren’t Always Best

Let’s say you have a 60-month auto loan for $16,000. If the APR is 7.7 percent, that’s $322.13 per month for a total life-of-loan payment of $19,327.80. However, if you can complete your loan as a 48-month loan, you will be paying $388.36 each month, but that extra $60 per month means you will pay about $700 less over the life of your loan! That’s $18,641.16, as opposed to the previous amount of $19,327.80.

At Car Deal Expert, we will do our utmost to find you the best auto loan or auto refinance loan rates available. We advise that you not bite at the first deal a bank or credit union can offer you. Yes, it may be true that credit unions can save you money on your auto loans when compared with banks. However, at Car Deal Expert, we’re here to help those of you simply want the best auto loan you can get, without the memberships and extra costs!

[apply_button]

Comments are closed.