Is Now the Right Time for an Auto Loan?


Your check engine light came on again and it’s time for an upgrade. Your work truck is too small and doesn’t have the power you need to haul your toys. That new electric vehicle looks pretty cool and might save you some gas money.

You might think with the feds raising interest rates that it’s not the best time for an auto loan. But, here are some reasons why getting the new car/truck you need with the help of an Ironworkers USA Credit Union Auto Loan may be a good idea and actually help you out:

1. Keep Your Savings Where it Belongs

Did you know financial advisors recommend keeping six months of living costs in your savings account at all times? If it’s time for a new vehicle, getting an auto loan lets you keep your emergency fund intact. Instead of using all your savings on a new car, consider using a small portion of it towards your down payment. This can also help keep your monthly payments affordable. Check out Ironworkers USA Credit Union’s lower interest rates to calculate how much your dream vehicle will cost. You might be surprised what you can afford.

2. Build Up Your Credit Score

By making on-time monthly payments over a period of time, you show your reliability and can increase your credit rating for future purchases, like a personal loan

or for a new toy when summer comes around.

3. Lower Insurance or Gas Costs with an Upgrade

Upgrading your car or truck to a newer model can help reduce insurance costs with new safety features ultimately lowering your overall bills. Who doesn’t need that these days with sky-rocketing costs? Check with your insurance agent to see if the car you’re looking at buying might reduce your monthly rates. Better yet, when you buy a more fuel-efficient model or electric vehicle, you can reduce your monthly fuel costs.

4. Cut Interest Costs by Paying it Off Early

When you pay off your auto loan early, you reduce the overall interest payments you make and it looks good on your credit report. Better yet, Ironworkers USA Credit Union won’t charge you a prepayment penalty and has convenient payment options to make your auto loan work for you.

5. Give Yourself Peace of Mind

Replacing an older vehicle with a new or used one that’s in better working order can give you a bit of relief. You don’t have to worry about breaking down on the way to work or ongoing repair costs. By adding Ironworkers USA Credit Union’s Guaranteed Asset Protection (GAP) and Mechanical Breakdown Protection to your auto loan, you get the added benefit of knowing your vehicle’s value is safe. Contact us for pricing.

An Ironworkers USA Credit Union Auto Loan can be the bridge to get you the vehicle you need while allowing you to use your hard-earned money to pay other bills, build up your savings, or just free up some cash. You can still get a new auto loan with an APR* starting as low as 4.24% APR and a used vehicle loan starting at 5.24% APR. With rates like these, you can’t NOT afford to get into a new ride.

Talk to us before heading to the dealership or browsing online. We’ll get your loan processed quickly, so you’ll have a check in hand when you find the right truck, car, minivan, or SUV.

Rates are subject to credit approval, but Ironworkers USA Credit Union is YOUR Credit Union so we’ll always do our best to get you the best rates!

Call us at 1-877-769-4766 or apply online today!


* The interest rate is determined by your loan term and credit history and may be higher than the listed Starting APR.


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