If you have plans in place to invest in any of the used or brand new cars for sale in Raleigh, you have to know where to source for legitimate financing. There are so many organizations today that offer loaning services to customers. All you need to do is to identify the right institution for you. While banks and other organizations may seem safer solutions, credit units are the most recommended. That is because they offer a lot of benefits.
Enjoy Lower Rates
As with credit unions, you are assured of lower interest rates when compared to banks. With credit unions, you can get loans as low as 2.97% for a 5-year car loan which is a bit lower when compared to banks which offer it at rates of 4.05% for the same period. In other words, credit unions aim to make your car purchase as cheap as possible. Based on a study conducted recently, it was confirmed that buying a $30,000 car using credit unions loans can save you up to $1,100 as compared to if you bought it using banks loan,
Enjoy A Friendly Loaning Process
Previously, credit union loans required you visit the offices of the specific union to apply a loan face to face with the loaning office. As of today, you don’t have to travel all the way to your preferred credit union to get a loan. You can easily make the loan application through their website or phone and be assured of getting a loan in a matter of days. The most interesting thing is that if you are buying the car from a car dealer, they will recommend you to some of the best credit unions to make your loan application process simpler.
It is Easy to Become A Member
Some people live under the false notion that credit unions are only open to groups of people working for certain government entities, companies, industries or even groups. In the past, that used to be the case but it no longer the case today. Modern-day credit unions accept members from all geographic areas as long as they meet the set guidelines. This simply means that working with credit unions has been made easy and applying for car loans is no longer the complex process people had to pass through previously.
There are so many valid reasons people looking to own cars should consider using the services of credit unions. As compared to what used to be previously, today, applying for loans from credit unions has become the easiest job ever. You don’t have to be employed by certain companies or being operating in certain industries to qualify to be a member. Hence if you have plans to buy one of the cars for sale in Raleigh, you should consider getting a loan from credit unions.