1st CCU AutoSMART
Remember when purchasing a vehicle used to be an all day excursion? It probably meant driving to your local auto dealer, finding a car in your favorite color with just the right options, haggling over the price, filling out a lot of paperwork, and going back and forth between dealer and credit union with payment in hand. Well now there’s a better way! 1st Community Credit Union and CUDL (Credit Union Direct Lending) have teamed up to bring you CUDL AutoSMART: the best possible way to make your auto buying experience virtually painless.
Get Your Loan Approved On-the Spot
From 7 a.m. until midnight, seven days a week, including holidays, 1st Community Credit Union can approve your new or used auto loan while you are at the dealership, and without visiting your credit union branch. It’s almost like having a loan officer right at the dealership with you! Through the CUDL program, 1st CCU has partnered with dealerships in your community to offer you a convenient way to purchase a vehicle and get your credit union financing. This program utilizes 1st Community Credit Union’s current low auto loan rates and terms when financing your vehicle. Best of all, the CUDL program is simple for both members and dealers to use!
It’s as Easy as 1-2-3!
- Decide on the make and model of the vehicle you want through the CUDL AutoSMART Website
- Visit any participating dealership
- Apply for 1st CCU low-rate auto financing through the CUDL system. Within minutes, you’ll have a financing decision.
Once the financing is approved, the dealer receives the credit union’s terms and conditions, completes the sales contract, and you drive the vehicle off the lot. Don’t worry about the paperwork—through CUDL, 1st Community Credit Union, and the dealer, it is all taken care of electronically. We are making this convenient service available to alleviate some of the stress that accompanies the auto buying experience and therefore allows you more time to enjoy your new or used vehicle.
Is Zero Percent Financing Really Your Best Deal?
Undoubtedly you’ve heard about the “zero percent financing” offers that many auto manufacturers have been promoting lately. Although they seem to be incredible deals and are certainly enticing, you should read the fine print and know the facts before you head to your local dealer.
Beware of Those Teaser Rates
Teaser rates have always been offered to drive more business to the dealerships but, all too often, these offers are not beneficial to the buyer. Knowing what to look for, and what questions to ask the dealer, will help you decide if zero percent is the best deal for you. Here are a few of the facts and restrictions that may apply:
- Almost perfect credit may be needed to qualify for these offers
- You may be required to give up a manufacturer’s rebate
- It could mean shorter terms and larger monthly payments
- It is usually offered on a limited number of models
- You may be limited to dealer stock and not be able to choose the exact vehicle you are interested in
Research Your Options
By using 1st Community Credit Union’s low percentage rate you are qualified to use any rebates offered by the manufacturers— which means, this could be your best deal! With the rebate, you are reducing the amount that you are financing even further. Therefore, in combination with the credit union’s low rate, your overall costs are lower than if you opted for the special factory financing. Review the chart for an example of the price savings using our low rate financing in comparison with the manufacturer’s zero percent deals.
Federally insured by NCUA NMLS 411004