What Is a Credit Union Auto Loan?

An auto loan from a credit union makes it possible for you to finance the car of your dreams in Chesterbrook. There are many advantages of receiving auto loans from a credit union that will be discussed below.

Lower Interest Rates

Since credit unions are not-for-profit, they can offer lower interest rates. They use the extra money that would be their profit and put it into helping their members save even more money. According to data from the National Credit Union Administration (NCUA), the average rate on a 5-year new car loan was 2.83% in the third quarter of 2021 while at banks, it was 4.73%. 

Personalized Service

Credit unions are locally based and operated. Their goal is to help you achieve your financial goals. It can be easier to obtain a loan if your credit score is lower with a credit union rather than a bank. Credit unions are also more understanding if you struggle and need a little extra time to make a payment. 

A User-Friendly Loan Process

Nowadays, you can easily apply for an auto loan from the comfort of your own home, either online or over the phone. You can also apply in person at the dealership. This makes the process of applying for an auto loan from a credit union very easy and convenient for you.

Benefits of Being Member-Owned

Credit unions are owned and operated by their members. Any profits they would have made go right back to its members in the form of dividends and better interest rates. This can help save you money and provide you with expert advice. 

Ease of Becoming a Member

It is very easy to apply to become a member of a credit union. You can apply for membership at BHCU by just filling out an online application form!

Don’t Know Where to Get an Auto Loan?

Are you unsure of where to get an auto loan in Chesterbrook? Well, look no further because you can get one at BHCU! BHCU aims to make receiving an auto loan a fast and easy process. This will help ensure you will be able to finance a car that is perfect for you when you find it. Our process is easy. All you need to do is find your perfect vehicle at one of our preferred dealerships, apply for pre-approval online, receive your pre-approval email, print out your pre-approval certificate, bring it to the dealership, and drive off in your new vehicle. If you are also unsure about what the best auto loan is for you, you can use our online calculator to figure out how much you can afford, what the best auto loan is for you, how much your monthly payment will be, and if you should consider rebating or special financing. 

Why Choose an Auto Loan with BHCU?

BHCU makes it easy and fast to receive approval for an auto loan. There are many advantages to receiving a credit union auto loan and BHCU is here to help you with that. It is easy to apply to be a member and then apply for pre-approval. BHCU has been a trusted credit union in the Chesterbrook area for over 70 years and is committed to helping you. If you have any questions or concerns about receiving an auto loan, please feel free to call us at 610-595-2929 and one of our experts will be happy to help you!

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