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Selecting the Right Auto Loan Options

Let’s face it. Buying a car can be stressful, and with so much to consider, you’ll want to choose wisely. Whether you’re buying a used car, something brand-new off the lot, or it’s your first time behind the wheel, White River Credit Union has various auto loan options to help you put the pedal to the metal this summer. (Without burning too much rubber!) 

The Pros and Cons of Buying New or Used Cars

Are you thinking of buying a new car? The good news is you’ll probably pay cheaper interest rates with a shiny new ride. To further attract customers to buy new rather than used, dealers may offer incentives like cash, rebates, or a low financing rate.

Unlike a used car, your loan period will likely be longer, and the total amount borrowed will be more significant. Consideration should also be given to depreciation because every year, the value of a car decreases. You don’t want to end up making payments for more than the car is worth. 

On the other hand, a used automobile won’t come with all the flashy accessories that a new car will, and the car will have had previous owners. But if you get a loan for a used automobile, the total cost will be less, and the loan’s terms will be shorter as the car continues to lose value annually. Additionally, a wider variety of credit types are more accessible for used automobile loans.

Cruisin’ With 24/7 Online Loan Approval

We know you’d rather spend your summer lounging by the pool, so we’ve made applying for loans simple. Our website makes it easy to receive 24/7 loan approval online from the comfort of your lounge chair. Questions? No worries – we’ll call you back within 15 minutes of your request. Now, where’s the SPF? 

Summer Savings With Auto Loan Refinancing

Do you feel like you found this blog too little too late? If you are currently locked into an auto loan with high interest rates, see if White River CU can meet or beat your current offering with our refinancing options. Hello, vacation fund!

Fueling Up for Summer Fun With WRCU 

After selecting auto loan options through WRCU, members can enjoy a hassle-free car buying experience with Auto Solution. The Auto Solution team will work to find you the perfect vehicle and deliver it straight to your front door.

Before you fuel up for your next adventure, it’s wise to consider GAP coverage with your car loan. Also known as loan/lease gap coverage, gap insurance helps pay off your loan if the vehicle is stolen, totaled, or if you’re paying more than the car is worth due to value depreciation. Then you can hit the open road worry-free. Cue the summer playlist! 

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