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Why You Should Get Your Next Car Loan at Your Credit Union
Why You Should Get Your Next Car Loan at Your Credit Union9/19/2019

Finance your next new, used, or refinanced car with MCCU and get $200 cash back

smiling young woman in blue car with red bow on topWhen shopping for a new set of wheels, your first stop should be MCCU. While many people start at the dealer’s lot, you’ll enjoy a lower rate, a simpler loan application, and other big benefits when choosing to finance your car at your credit union.

Let’s take a look at the differences in the auto loan process.

Financing an auto purchase at a car dealership

At a dealer’s lot, the dealer will likely try persuading you to push your self-imposed car budget to the max or even to go over your ceiling price.

But, if you’re financing your car through the dealer, that’s only the beginning. Once you’ve chosen your car, you’ll need to submit a complicated auto loan application form, which the dealer sends to the finance companies it partners with. This can include lenders and financial institutions – even MCCU! The dealer will then share the lender offers with you and ask you to make your choice.

However, in most cases, the dealer is only the middleman. This means they are going to present your options in a way that most benefits them – and not you.

Most lenders will pay a larger commission for a car that is sold at a higher price and for a loan that is established at a higher APR. As a result, your dealer will always try to get you to sign up for a loan that is more expensive than what the lender is actually willing to offer you.

That’s why if you choose to do the financing at the dealer, be sure to insist you want to get the loan from us.

Financing an auto purchase at MCCU

When you work with MCCU, 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.

No Payment Due for 90 Days

And not only will you enjoy a low rate with terms that fit your needs, you won’t have to make a payment for 90 days (interest will accrue from the date the loan funds).

Easy Application Process

The process of applying for a MCCU Auto Loan is simple, quick, and easy. You can even apply online or over the phone. And unlike most banks, we won’t charge you an application fee.

Car Buying Services

As a MCCU member, you have access to Autoland, an auto-buying experience that allows you to skip the Dealer trip altogether. Autoland helps you find the new or used car you want, and even delivers it here to the credit union! Autoland saves you hours of time, and can sometimes save you money on the purchase!

Auto Insurance for MCCU Members

Another perk of being a MCCU member is that you have access to discounted auto insurance policies through TruStage

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). You’re working directly with the lender and you’ll only hear the actual rate we offer instead of the marked-up rate the car dealer presents to you. Also, credit unions famously offer loan rates that are consistently lower than those offered by large lenders and banks.

Another advantage you’ll enjoy at MCCU is a pressure-free setting when determining how much you can afford to pay each month toward your new car. In contrast, when you’re standing in the dealer’s lot surrounded by cars you wish you could afford, you’re more likely to make a decision you’ll later regret.

Find out more about our Auto Loans and Apply Today!

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