Are you considering buying a new or used vehicle? Financing through SLFCU is easier than you may think. Here are four steps to help make buying your next vehicle go as smoothly as possible:
1. GET PRE-APPROVED
Getting pre-approved for an auto loan before you start shopping gives you the advantage of knowing how much you can afford on a vehicle before you head to the dealership. If you apply online, it’s possible to get approved in as little as 15 minutes, and our pre-approvals from SLFCU are valid for 45 days. So even if the vehicle you are interested in doesn’t work out, you can keep looking without having to re-apply.
2. FIND YOUR VEHICLE
You can shop for your vehicle at a dealership, at CU Auto Sales in Albuquerque, or with a private seller and still secure financing with SLFCU. If you find the vehicle you want at a dealership, apply online at slfcu.org/AutoLoans or let them know you are an SLFCU member and would like us to finance it. If you plan to purchase from a private party, SLFCU can help you save time by filing the title, facilitating the payment of any applicable taxes, and, in some cases, arranging for emissions testing and collection of the emissions certificate. Ask a representative for details.
3. AGREE ON A PURCHASE PRICE
Loan pre-approval from SLFCU can have a positive impact on price negotiations since it shows sellers you’re a serious buyer. Let sellers know you’re pre-approved with SLFCU.
4. FINALIZE THE SALE
Once you’re ready to sign on the dotted line, you have options for completing the necessary paperwork. Dealers can complete your financing with SLFCU right at the dealership. If you are buying from a private party, you can meet the seller at any SLFCU branch to complete the transaction with a Financial Services Consultant. For a list of needed documents, visit slfcu.org/AutoPurchaseMaterials. Once the loan is complete, we will work with you to sign the loan agreement and provide a check directly to the seller.
SLFCU offers a variety of resources to help you navigate the vehicle buying process, including calculators, advice, and information on financing options. Visit slfcu.org/AutoBuying to learn more.
« Return to "View All Articles"