Obtaining an Auto Loan is made Easier with GO Federal Credit Union

Buying a brand new car, whether it’s actually new or used, can be difficult. On top of figuring out what model of car you want, other factors to consider are the features, where exactly to buy it, and most importantly, the price. The most likely choice is to take out a loan, and the safest and most reliable way is by taking out an auto loan at a credit union. In Dallas, Texas, GO Federal Credit Union is there to assist customers to provide an easier car-buying experience.

When it comes to auto loans, two choices to make is either getting one through the bank, or through a credit union. The difference between the two is through their services. Banks are for-profit organizations that make money for their stockholders, while credit unions are not-for-profit institutions owned by their own members where they use their own earnings towards their members which include lower loan rates than you would find at a bank. Becoming a member and taking out an auto loan with a credit union is more beneficial.

Making a Clear Decision is Key

Credit Unions offer car buying services to help with the process.  Letting your credit union know what kind of car you want is important as they will work closely with car dealerships to find the exact car that you want to get, and at the best price. Things to consider would be:

·         The size and model of the car

·         What the car will be used for

·         What kind of safety features you are interested in

·         Fuel economy

·         Any other features that are important to you

Taking the Next Step

The most important decision of all, though, is the price range. Getting pre-approved is helpful for members. The credit union can supply cost information, find the best deal with the right dealer, provide the dealer’s information, and most importantly, provide a pre-approval letter. The pre-approval letter contains specific instructions that informs the dealer that the purchase of the vehicle will be through the credit union, and also protects their members from being coerced into other payment methods that are not beneficial.

Obtaining an auto loan at a credit union creates many benefits that far outweigh getting a loan anywhere else. Talking with a credit union first can pay off in the long run for members seeking flexible terms, lower rates and personalized service.

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