Car Loan: Credit Union or Bank?

Car Loan: Credit Union or Bank?

This is a discussion on Car Loan: Credit Union or Bank? within the Off-Topic forums, part of the Evoque Discussions category; Please educate me on this, I'm getting a car loan I want to know which one is better, bank or credit union? Asked some friends ...

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  1. #1
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    Car Loan: Credit Union or Bank?

    Please educate me on this, I'm getting a car loan I want to know which one is better, bank or credit union? Asked some friends already and majority said union is the way to go but a few said they will still go with the bank. Quite confused here

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  3. #2
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    I think credit used to have the best rates I like Alaska credit union it's had the best every time I looked and they're easy to work with

  4. #3
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    i also heard that credit unions offer lower interest rate. if it's possible, try to ask for a sample computation from a bank and a credit union to help you decide.

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  6. #4
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    I got a sample computation from both and it's true, the total cost of the loan is cheaper than that of the bank. Luckily, my credit score is also god so I can avail of that auto loan. From my calculatons, I should be able to pay off the loan in four years since I have some savings I plan to use to pay the down payment.

  7. #5
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    We got our previous car thru credit union and yes, interest rates are lower than the bank.

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