Auto Loan in Royal Oak

Auto loans provide families with the opportunity to get a new car or truck when the need it, instead of saving up money for years. If you're in the market for a new car, you need to research your best car loan options in order to secure the lowest interest rate possible.

Credit unions are a little-known source of low-interest auto loans. They typically only provide loans to members, but membership is easy and free at most credit unions. Because credit unions are structured differently than banks, they can provide lower rates and better customer services without additional fees.

How Auto Finance Works

When you shop for a new car, the auto dealership needs payment for the vehicle right away. Unless you've already been saving up for years, you probably won't be able to afford the sticker price on a new vehicle or even a used one. A credit union can pay the dealership in advance, and arrange for you to pay them back over a few years.

Some situations require a down-payment, but not all dealerships or credit unions require one. A large down payment reduces the total amount of the loan and may also allow you to qualify for a lower interest rate or shorter term. The dealership and the credit union can work with you to design a loan that works for you.

Bad or No Credit

If your credit history is spotty, you may still qualify for an auto loan. Credit Unions are nonprofit institutions that are dedicated to serving their members, so we will take the time to find a solution that works for you, even if you have bad credit.

Reaching out to us is the best way to learn more about the options we have available for you. We may be able to customize a repayment plan to create a monthly payment schedule that works for your budget.

Vehicle Loans and More

T&I Credit Union is a Michigan-based credit union that serves Royal Oak and the greater Detroit Metro area. We offer boat, RV, motorcycle, and other vehicle loans in addition to car loans. Our team is happy to answer your questions and find a loan that works for you.

Call us a 1 (800)-338-3908 to learn more about membership and auto loans.