The purchase of a car is likely the second-largest expenditure you have, second only to the purchase of a home. Whether you desire the shiny, brand new one, or you’re content with finding a reliable used one, we want to help you get the most for your money.
Here are five reasons it makes more sense to get your loan through us.
1. With us, you have a better chance of getting your loan approved. Even though the loan application process is the same and the underwriting process is similar, AMOCO may make some adjustments that a commercial bank would not. Many credit unions are also more inclined to listen to its members’ needs and unique situations, sometimes adjusting terms of a loan accordingly.
2. We have lower rates. A five-year term is the most common loan term for a new or used car, and rates at AMOCO are typically much lower than the average rate at a competitor bank. The savings in interest alone is a major reason to consider this financing. Just think of what you can do with that money.
3. We provide personalized service. Because AMOCO is non-profit, we work to provide members with high-quality service, and a group of volunteer board members makes operations decisions, rather than a corporate office. You can openly discuss your concerns about your loan, talk about flexible repayment options, and review your financial situation with a professional lending officer. You can alleviate some of the pressure of applying and securing financing for your vehicle, and be more confident that AMOCO is working with your best interests in mind.
4. We offer educational resources. At AMOCO, we will provide information such as financing options and how to make the best decisions when assessing the value of your car purchase. If you’re a first-time car buyer and apprehensive about the loan process, you can turn to AMOCO for unbiased answers.
5. We offer a non-sales approach. Commercial banks often give their lenders bonuses or some type of compensation for the loans they get approved. Unlike commercial banks, AMOCO is a not-for-profit financial institution that works for its members and does not try to sell you something you don’t need.
AMOCO’s profits go back to members in the form of lower rates on financial products and more flexible loan options. If you don’t like the pressure of working with lenders from a commercial bank, AMOCO is the answer. Apply online today.
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