Buying a car is an exciting experience that should be revered. As commuters of the greater Springfield, Mo area we often spend much of our time in our cars. Picking the perfect one can be hard, but don’t worry. Your friendly financial team at Volt CU is here to help. In today’s blog, we’ll discuss navigating car loan rates in Springfield, Mo.
Decide What Car You Want
Believe it or not, the hardest decision to make can be settling on the car you want! The first step is deciding exactly what you want: year, make, model, etc.
This is important because when you are applying for an auto loan the institution you are borrowing from will want this information.
You can rarely get the loan before shopping, though smaller institutions might be willing to give you a pre-approval if you have a solid borrowing history with them.
Most approvals are decided from credit history, borrowing history, credit score, and whether you are in good standing with the financial institution you want to borrow from.
Start With Rate-Comparison Services Like Lending Tree
Once you’ve decided what car you’d like, take it to the world wide web! Kelly Blue Book can help you decide if the dealer offering the purchase price is fair, and so can CarFax.
If the dealer is reputable, then they will provide you the vin-number to source this information, or the CarFax on the spot.
They should also allow you to take the car for a test drive, so you can have an inspection done on it.
Once you feel you are good to go, it is also a good idea to jump onto a site like Lending Tree. Lending Tree will show you all of the rates, and borrowing amounts for different institutions that offer car loan rates in Springfield, Mo. This is important to do, so you can have an idea of what the industry standard borrowing details are for the car you are wanting to buy.
Take It To Your Credit Union
After doing your research, the last step is to take that information to your credit union! Our team here at Volt CU will value the effort and research you put into your car buying experience, and we will work with you to find a rate that works.
It is important to bring your government photo identification with you, and the purchase details of your car, so we can get you back on the road as soon as possible in your new wheels!
Jump For Joy with Volt CU
Here at Volt CU, we love supporting our members in their financial life journeys. We always keep the interest of our members at heart, and we are happy to offer assistance with any financial milestone.
If you’re interested in borrowing with Volt CU, we’d love to help look through car loan rates in Springfield, Mo. Reach out to us online, or call us at (417) 862-0471. We’re looking forward to hearing from you.