NOTICE: Kinetic full-service branches are currently open with limited lobby traffic. Appointments are available. Visit our COVID-19 response page for the latest information.
If you are considering financing a new-to-you car, it’s a good idea to look at all of your options for lenders. Traditional banks are often the most sought-after entities, but are they the most-qualified businesses to offer you funds? Just because they seem like the norm doesn’t mean they will be the best choice for you and your finances. Or for your peace of mind. Take a look at your next car purchase, and how you might actually come out ahead by opting for an auto loan from a credit union for your next vehicle purchase.
1. Better Interest Rates
In many cases, credit unions can offer much lower interest rates than other lenders. When you’re looking into a vehicle loan, shop around. Find out what’s available for your circumstances, and pay close attention to available interest rates. You can also do the math to see just how much you can save by opting for the lowest rate available, the number might surprise you.
2. Free Educational Resources
Another key perk of working with Kinetic Credit Union is access to educational resources. Credit unions offer reading materials, videos, and more on their website. In many cases, you can also get printed documents on-site, or request items in the mail. These items are a great way to brush up on your financial knowledge and to learn more about key investments now or in the future.
3. They’re Member Owned
One of the biggest things that makes a credit union exist is that it’s owned by its own members. That means the very folks who have a say in business decisions also have skin in the game. You’re unlikely to get hit with hard decisions or changes that weaken your financial status when choosing a credit union. You can also get more insight as to what’s going on with the business or even potentially get a vote.
4. Friendly and More Accessible
Banks can seem intimidating or overwhelming at times. In most cases, this is due to the sheer size or inaccessibility when working with a location that is towns – or even states – away from you. Where, in contrast, credit unions are smaller, friendlier, and easier to get ahold of. Because credit unions deal with local customers and hold smaller branches, this is a common comment among members – working with a credit union seems more personal and less threatening, almost as a rule.
Choose Kinetic Credit Union for Your Next Auto Loan
When you’re looking for a smart place to borrow money from for your next vehicle, consider going with Kinetic Credit Union for all of the above perks and more. Don’t be afraid to ask hard questions and shop around to find the best deal. A financial business is there to help, and you should feel that you’re taken care of every step of the way.
To learn more about your local credit union and what types of rates you can get on an auto loan, get in touch with Kinetic Credit Union today.