SIU Credit Union Blog

Tag: auto loans (page 1 of 2)

Feeling Stuck In Your Car Loan? Might Be Time To Shop Around!

Some bills can’t be changed. For other bills, though, a little legwork can make a big difference in your monthly payment. Your car payment is a great example. Refinancing your vehicle loan can lead to a lower monthly payment, a shorter payment term or both! It depends on various factors, including the value of your vehicle, how much you owe and your credit standing.

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How You Benefit by Choosing a Credit Union

Financial institutions can appear to be alike from the outside, but once you look inside, you remember the reasons you chose (or are about to choose) to become a member of SIU Credit Union:

Competitive car loans

Couple car shopping

The National Credit Union Administration (NCUA) reports that in 2014, credit unions charged a 2.72% interest rate for the average 36-month used-car loan. Compare that to the 5.26% rate that a typical bank charged during the same time period.

Free checking

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Considering a used luxury vehicle? Here are some tips.

Picking out a luxury car isn’t quite the same as looking for a standard car. Even more so when it is a used luxury car.

Know your options

A big consideration of luxury cars is the options and features that you desire. These are more limited with a used vehicle, but the savings are great.

Be patient and shop around

First thing’s first: decide what you want and identify your needs. This includes year, make, model, color, and options. What is the most important factor to you? For me, I want a black sportscar with dark interior.  As a young, unmarried woman without children, that fits my lifestyle. This may not work for you, however. Continue reading

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Join A Credit Union For Big Savings

NEW YORK (6/29/10 CUNA)–Consumers need to find a way to join a credit union to be able to enjoy all the great resources they offer, said an ABC News correspondent Monday.

“I was once again reminded what phenomenal resources credit unions are,” said Elisabeth Leamy, ABC News consumer correspondent, in a segment titled, “Save Big Money on Home and Car Loans: Go to Credit Union for Auto Financing.”

“In fact, if you are in the market for a car, you have GOT to find a way to join a credit union, if you’re not already a member. You can find one you are eligible for at Find a Credit Union. Or to see if you are eligible to join SIU Credit Union, click here.

“Credit union auto financing is generally such a great deal that I’m going to issue a rule here: never shop for a used car at a dealership without first getting outside financing quotes, especially from a credit union,” she added.

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Reduce Your Monthly Auto Loan Payment

refinanceemailThese days, any extra money can come in handy. If you’re trying to cut costs wherever possible, refinancing your car loan can free up some cash. For a limited time, you can refinance your car from another financial institution and save hunders or even thousands of dollars over the life of the car loan.  With rates as low as 3.99% APR, you can quickly put extra cash in your pocket with lower monthly payments. To see how much you can save, visit one of our member service represenatives. They can quickly tell you if it’s in your best interest to refinance your auto loan.

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Having a Hard Time Making Your Car Payment?

Refinance your auto loan with us.

Did you finance a car in the past year or two?

Did you take advantage of a 0% financing offer but now can’t afford the hefty monthly payment?

Are you paying a high rate through another lender?

Do you want the convenience of having your auto loan at the credit union?

If you answered “yes” to any of these questions, we can help. Even by pushing the interest rate on your auto loan down a percentage point or two, the money you save really adds up.

Stop in or call today to find out how refinancing at the credit union can benefit you.

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