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5 Reasons to Choose Your Credit Union for a Car Loan

Posted by MoneyWisdom Newsletter on Apr 10, 2018 2:18:53 PM

Man happy with Hanscom FCU car loan

A car loan is helpful. But a good car loan can make a dramatic difference in your life. It can save you money, reduce worries, and minimize hassles. And at Hanscom Federal Credit Union, we specialize in good car loans.

1. Cruise through the approval process.

Many financial institutions look no further than your credit report when considering your loan application, and they may deny your request if you have less-than-great credit. But credit unions can take the time to consider the full context of past financial behaviors, which can give you a leg up in the approval process.

2. Pay less.

Credit unions are not-for-profit financial institutions, which means all profits are returned to members by way of lower fees and loan rates. Rates at credit unions tend to be lower than at banks, and a lower rate can save you hundreds – even thousands – of dollars in interest payments over the life of the loan.

3. Enjoy a member-centered approach.

Member service representatives keep a strong focus on providing unbiased financial education, such as tips for determining an affordable loan amount based on your situation.

4. Benefit from unique resources.

Credit unions maintain partnerships with services that aim to help members make wise financial decisions. For example, Hanscom Federal Credit Union partners with AutoSmart, a website that provides research on the auto market. Members can use the website to search, shop, and finance a vehicle, taking the stress out of car buying. Visit hfcu.cudlautosmart.com.

5. Apply with Ease.

We make it simple to apply for a car loan. Do it on your mobile device or computer, over the phone or in a branch. Call 800-656-4328 or visit www.hfcu.org/carloan.

Topics: Money Management, Cars

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