Buying a new car means applying for a loan to finance the purchase. New cars average $30,000 to start for sedans and standard models a high-interest loan can cost a borrower thousands in interest payments alone. Finding a low-interest loan is essential to saving money when looking at purchasing a new vehicle. Banks offering low-interest Car Loans Hollidaysburg PA can mean the difference in thousands of dollars over the life of the loan or paying too much for a new vehicle.
Many dealerships work with various banks to help customers finance car purchases. Customers who bank with Credit Unions tend to get better car loans at lower interest rates over traditional banks. These loans are typically 2% lower than the average bank rates offered. Many people qualify to the bank with credit unions but just do not look into it any further and miss out on great deals and better interest rates on many loans and bank accounts. Securing a car loan with a credit union allows some customers to get membership benefits that they may not have qualified for otherwise.
In 2009, credit unions financed the most car loans over any other bank. The reason is credit unions had $80 billion in reserve ready to make loans to qualifying members and helped to keep the car industry flowing during the economic downturn. Low-interest Car Loans In Hollidaysburg PA, are found at a credit union working with dealerships to get customers into a new car or truck. Customers who bank with credit unions know how easy it is to apply for a car loan, many can do so without setting foot into a branch. Online applications are easier and more beneficial for busy people, once the loan is approved all the customer has to do is pick up the cashiers check and head to the dealership to make the purchase. Dealerships that utilize credit unions for financing know the money will be transferred without the customer having to even go to the bank or do the online application process.
ARC Federal Credit Union offers members low-interest car loans and other benefits to help finance a new or used vehicle. Members can even make payments on their loans online or have the payment taken directly out of their account. To see all they have to offer their members browse website to apply for a loan or apply for membership.