Car loans benefits:

While most people would like to purchase a car using cash at the moment of purchase, borrowing money from a financial institution is a very common way for most buyers. A loan can allow a consumer to purchase a vehicle at full price by making monthly payments. These payments are set after making an agreement with the lender regarding interest, down payment, and time of the loan. Since the process can be a little bit overwhelming, ALLIANCE Credit Union makes this process much easier and enjoyable.

Benefits of getting a car loan

  1. Get the car as soon as you want it

Getting a pre-approval letter will significantly speed up the car buying process. The pre-approval will tell you exactly what you can afford, giving you an idea of the budget required to get your dream car. A loan officer from ALLIANCE can pre-approve the amount needed before the purchase and then finalize the document needed to make a draft payment to the dealership.

  1. You won’t fall for dealership deals

With the pre-approval letter, the sales associate from the dealership will focus on the specific amount that you can afford. Additionally, ALLIANCE will work with you to provide the best car loan for your personal needs and wants. The credit union will walk you through the process to make the purchase a fun and enjoyable experience.

  1. Credit History

Making monthly payments will lead to a higher credit score. Every credit pull will cause a small reduction in your credit score; however, making on-time car payments will help increase your credit score. This creates a credit history that positively contributes to future loan requests.

Here at ALLIANCE, we’d love to help you with your car buying journey by getting you into your dream vehicle in the quickest possible time with the lowest possible rates. Visit our auto loans page by clicking here to apply online and learn more about how we can assist your auto loan needs today. Stop at any of our 7 branch locations across Lubbock or call us today at 806-798-5554 to speak to one of our loan officers.