Simple Tips for Getting a Vehicle Loan

Expert loan officer at the credit union shaking hands with a new car owner after getting a loan


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Check Your Credit

Knowing the health of your credit is one of the best tools to have when purchasing a vehicle. If you haven’t checked your credit report in a while or ever, there could be small issues that could affect your report, which could result in a less than favorable loan rate, causing you to pay more in the long run.

Understand Vehicle Loan Rates

Many people looking to purchase a new or used car automatically finance their loan through the dealership without checking to see if there’s something better available. In most instances, Adirondack Regional Federal Credit Union can do better. Plus, by financing with us, you then gain access to all other member benefits.

Know What You Can Afford

Most important of all is understanding what vehicles you can afford. While longer auto loans with a lower monthly payment seem appealing, you can actually end up paying more in interest than you would with a shorter-term loan with a higher monthly payment. We can walk you through the details of your new auto loan in a personal and easy-to-understand manner.

What If Something Happens?

Lastly, we also offer credit life and disability insurance for the unfortunate incidences of death or if you become disabled. Credit life will pay off the loan without passing the burden to your family and disability insurance will ensure your payments are made while you’re unable to work. The bottom line, buying a vehicle should be easy. Adirondack Regional Federal Credit Union is here to make that happen.