Buying a car is stressful. Going to car dealerships, spending all day test driving and comparing cars, dealing with stacks of paperwork, getting a loan, and then hoping you bought a good car, all full of stress.

Let’s take some of the stress out of buying a car by financing it with a credit union. There are tons of reasons and benefits to go with a credit union as your lender.
 

Lower Fees and Interest Rates
 

Banks are focused on making money. They are for-profit businesses and because of that, they want more money. 

Banks typically have higher and more fees than credit unions. Depending on the bank, it can feel like everything has a fee attached to it. Some fees are tiny, but always nipping at your wallet, while others are massive and must be avoided.

Credit unions still have fees, but are lower. Not everything has a fee attached to it, and many offer free accounts, something rare at a bank. 

When it comes to financing your car, with a good credit score, a credit union can often offer better rates and lower fees than a bank.
 

Get Pre-approved For Your Auto Loan
 

You can get pre-approved by lenders for an auto loan before you start car shopping and you should. This can help you know what you can afford before stepping foot on the dealership lot. If you wait till you have found a car you like and the dealership is approving you for loans on behalf of lenders, you’re doing yourself a disservice. 

With a credit union, especially if you are already a member, you can easily get pre-approved for an auto loan. That way, you can see what fees and interest rates will be and can be informed when you go out car shopping. Plus, credit unions often are more flexible with circumstances with their members to help them reach their goals.
 

Easy to Make Payments
 

If you are already a member of the credit union and get an auto loan with them, making payments is much easier. Rather than having to send a check or a digital payment through another lender, you can just transfer it inside your credit union.

Pioneer members can make payments easily through myPioneer Online and Mobile Banking. Just move the money from your account to the loan and it is done. You can even automate the process by setting up automatic transfers.
 

Flexibility and Understanding
 

Credit unions are focused on their members and have programs in place to best help members. Banks often have hard rules and little room for giving assistance, but credit unions can go that extra mile when needed.

Since credit unions are nonprofit organizations, they want to keep their members satisfied and served. That means flexibility with your auto loans when you need it. For example, Pioneer has Skip-a-Pay, a way you can skip a monthly payment on your auto loan when you need it. If cash is tight or you need to save up for a big expense, you can skip a month of paying your auto loan and pick it back up next month.
 

Loans That Match Your Needs
 

Credit unions serve a smaller market than most banks and therefore cater many of their products and loans to their local membership. This means you can find an auto loan that is more than just interest and fees, but works with your situation. 

For those who are buying their first car, Pioneer’s First Time Auto Buyer Loan is perfect. It comes with a Credit Checkup so you know what your credit situation is and an extra $500 on a share secured VISA credit card to help you build your credit. That way, you can get the best loan for your new car and set you up for success in the future. 

Apply for an Auto Loan