The Power of a Credit Union Auto Loan

Buying a new or used vehicle is an exciting step, but for many, the financing process can feel like a stressful speed bump. When you're sitting in the dealership, you're often negotiating two things at once: the price of the car and the rate of your loan.

As a member-owned, not-for-profit financial institution right here in the community, SharePoint Credit Union is here to put you in the driver's seat of the financing process. Here is a look at why getting your auto loan from us, whether you're buying new or refinancing an existing one, is the smarter move for your wallet and your peace of mind.

Advantage #1: Lower Rates Mean Real Savings

The most significant benefit of a credit union auto loan comes down to our structure. Because we don't operate to generate profits for outside shareholders, we can return those savings to our members in the form of lower interest rates and fewer fees.

While a dealer may offer the convenience of a "one-stop shop," their financing often includes an interest rate markup, a hidden profit for the dealership itself. When you finance with us, you get a loan designed to benefit you, the member-owner.

Even a difference of one or two percentage points can save you hundreds, or even thousands of dollars over the life of your loan. We provide transparent, competitive rates right from the start.

Advantage #2: Pre-Approval is Your Car-Buying Superpower

The single best way to simplify your car-buying experience is to get pre-approved for your loan before you step onto the lot. At SharePoint Credit Union, our pre-approval process is quick and gives you immediate leverage.

The Benefits of Pre-Approval from SharePoint CU:

• Know Your Budget: Your pre-approval letter tells you exactly how much you can afford, eliminating the guesswork and preventing you from falling in love with a car outside your price range.

• Increased Negotiation Power: When you walk into a dealership with a pre-approval from SharePoint Credit Union, you are essentially a cash buyer to the dealer. This allows you to focus solely on negotiating the lowest possible vehicle price, not getting caught up in a confusing negotiation over the interest rate.

• Control and Confidence: You get to bypass the back-and-forth waiting game for financing approval at the dealership. You walk in knowing your exact rate, term, and estimated monthly payment, putting you in full control of the entire transaction.

Advantage #3: Refinance and Take Back Control

Did you already finance your car through the dealership? It's not too late to start saving!

Many members come to us after realizing their initial dealer financing rate was higher than it should have been. As a member of SharePoint Credit Union, you can refinance your auto loan at any time.

Why Refinance with SharePoint CU?

• Lower Your Payment: By securing a lower interest rate, you can reduce your monthly payment and keep more money in your pocket.

• Reduce Total Interest Paid: A better rate means you pay less over the life of the loan.

• Access Member Perks: Move your loan to your credit union and consolidate your finances under one trusted institution.

Don't let financing be an afterthought. Take advantage of your membership and secure the best possible financing with the SharePoint Credit Union team that truly has your best interests at heart.

Ready to start driving smarter? You can apply for your no-obligation auto loan pre-approval or explore refinancing options online in minutes or stop by one of our local branches today!