Tag Archives: auto loan

NEW! 24/7 Lending Center: ANYTIME Pre-Approvals

NEW! 24/7 Loan Approvals*

Because we know it’s not always convenient to apply for a loan when we’re in the office, USAgencies Credit Union now offers loan approvals anytime via our 24-hour Lending Center!

Connect 24/7 by calling 503.275.0300 (opt. 2) or toll-free at 800.452.0915 (opt. 2) for loan approvals that are quick, easy and convenient.


*24-hour approvals available for consumer loans only. Approvals not guaranteed and subject to credit review.

 

Spotlight: A Look Inside Enterprise

If you didn’t already know, USAgencies Credit Union has partnered with Enterprise Car Sales for years in order to bring our members great cars with great pricetags and great warranties! Here’s a quick Q & A with Austin Moothart, Enterprise Dealership Manager, on what it’s like to work for Enterprise, and what he likes most about his job…

Enterprise

What do you do at Enterprise?
I am responsible for creating great buying experiences for our customers.

What makes Enterprise different?
Enterprise is different than any other dealership because our program is set up to put the customer first with our no haggle pricing, a transparent buying process and professional sales consultants who focus on helping the customer find the right vehicle for their needs. It’s not about just selling a car to a customer, it’s about the experience. So many people have negative experiences at dealerships which causes them to not look forward to buying their next car. When customers buy from us, our goal is to create customers for life and create relationships where people are excited to send in their friends and family.

What are some of the added benefits of buying a vehicle at Enterprise?
Great people and service, 109-point vehicle inspection, 7-day repurchase program, free roadside assistance for the first year, 12-month/12,000 mile limited powertrain warranty, and a free Carfax. Plus, we offer Kelley Blue Book Trade-in value on all trades!

We partner with thousands of credit unions across the country who trust us to help their members find the right vehicle when it’s time.

Favorite thing about your job?
Enterprise is a company that respects its employees and working in the Car Sales division has allowed me to work with some amazing professionals who share the same values that I have when it comes to taking great care of people. I really enjoy having a sales team that works really hard every day to do the right thing and exceed the expectations of our customers.

Favorite customer story?
I don’t have just one favorite customer story to share. But I will tell you that my best memories are the ones of customers who come in nervous about buying a car and leave telling us how they will never buy a car anywhere else but here. Having customers smile, laugh and hug us afterwards is the best feeling because we know that they are genuinely happy with the vehicle they picked out. Knowing that my team was part of a customer’s positive buying experience is incredibly rewarding!

 


Know what else is great about Enterprise? Now through April 30th, you can get 1% off your qualifying auto loan rate when you purchase with Enterprise and finance with USAgencies! Terms and conditions apply. Learn more.

 

Indirect Lending: Know Before You Go

Have you ever heard the term “Indirect Lending”? If you’re shopping for a new car or truck, and heading to the dealer, it’s a good idea to understand exactly what indirect lending is, and how it can affect your purchase. Our Lending Supervisor, Callie Gibbs answers a couple of questions about this common dealer lending practice and gives some tips on what you may want to watch out for…

Q. What is Indirect Lending?
A. Indirect lending means that the dealer finds your financing for you. Your general application information is sent to several different credit unions for approval. This can mean several inquiries on your credit report, as well as your personal information in the hands of several institutions. The financial institution that ends up “buying” your loan then pays the dealer for that loan; generally, 2% or more of the loan amount.

Q. How does Indirect Lending differ from lending at USAgencies?
A. At USACU, we already know you. We will decision your loan request based on you, not just the numbers. Our loan officers can give you information about what to look for when shopping, the best rates available to you. We will also advise you on the amount to spend so that you don’t get in over your head and have buyer’s remorse. Your credit union doesn’t feel we should have to buy your loan; we want to earn your loan.

Q. What kinds of things should you watch out for with Indirect Lending?
A. The biggest concern with indirect lending is that the dealer is allowed to add on thousands in products. This can sometimes cause you to finance 130% or more of the value of the car.

Q. What’s better than Indirect Lending?
A. A USACU AutoCheck! With an AutoCheck, you’ll know how much you are approved for before you start shopping, so you won’t overspend, you’ll know the book value of the vehicle you’re looking for so you’ll be sure that you’re getting a good deal, and you’ll avoid sitting in a chair at the dealer for hours dealing with the “dealer finance guy” that your salesperson has to keep checking with. You just make the deal, complete and sign the AutoCheck, and drive off- it’s that easy! Basically, it will save you time and money… and who doesn’t want more of that?



For more Q & A with Callie, you can contact her directly:

Callie Gibbs, Lending Supervisor, USACU

Callie Gibbs
Lending Supervisor
Certified Financial Counselor
cgibbs@usacu.org
(503) 275-0312

 

What’s the Difference?

Auto Dealer vs. Credit Union Financing:
What’s the Difference?

Here’s a quick Q & A with our Lending Supervisor, Callie Gibbs, on the benefits of getting pre-approved with USAgencies before you set foot in the dealership, and what to do once you get there…

Q. What are some of the benefits of getting pre-approved before shopping?
A. When you get pre-approved with us our loan officers work hard to make sure you are educated before you go shopping. We do our best to put you into the lowest rate and most comfortable payment possible. You help decide what your loan will look like, instead of someone else putting you in a box. Ensuring your loan is here means you get personalized service from beginning to end.

Q. What does the pre-approval process look like at USAgencies (if I’m buying from an auto dealership)?
A. You can simply apply online anytime of the day or night, or call us during business hours for a quick decision. Once approved, we do offer an Auto Check. That is a “blank” check good for up to your approved maximum. You just write it out to the dealer as if you were paying cash. Once that check clears our account, we call you and finalize the terms of the loan. We also now have the option of electronically signing your loan documents to make the process as easy as possible.

Q. What if the dealer tells me they can offer me a better rate? Should I take it?
A. A better rate isn’t always as good as it seems. The dealer wants to find you financing because they GET PAID for that. We don’t believe that we should have to buy our members’ loans. We want to EARN your business through excellent service. Even 0% interest really means the price of the car is increased to begin with; nobody gives money away for free! Besides that, if you are already pre-approved, and the dealer offers you a better rate than we have, check with us first. We always quote a base rate up front, and sometimes we have discount options available.

Q. What if my credit is less than stellar? Should I assume that the dealer is the only one who can finance me?
A. Absolutely not! We have a great loan program for our members with “less than stellar” credit. If your initial rate is over 5%, every year that you pay us on time, we automatically reduce that rate by .50% (until it reaches 5%). This will not only reward you for on time payments, but also take a lot of time off of your loan, saving you money!

Q. Should I take the dealer warranty/GAP?
A. This is NOT recommended. Here at USACU we offer all the protection that you need: Add-On Warranties, GAP, and Debt Protection for Loss of Life, Disability and Involuntary Unemployment. We want you to feel secure in knowing that your loan, credit, financial well-being and vehicle are protected. The dealer offers some of these things as well, but at a much higher cost… and, their little secret is the more the finance person can get you to pay, the more they put in their own pocket!


For more Q & A with Callie, you can contact her directly:

Callie Gibbs, Lending Supervisor, USACU

Callie Gibbs

Lending Supervisor
Certified Financial Counselor
cgibbs@usacu.org
(503) 275-0312

 

Member Moment: Chandra

 

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Chandra with her 2015 Dodge Journey.

Longtime member Chandra Wilson has been with USAgencies Credit Union for twenty years. She first became a member in April of 1996–the same year as the Macarena, Tickle Me Elmo and the start of Oprah’s Book Club. Mariah Carey & Celine Dion topped the charts and Independence Day was #1 in the box office. In other words… it was a long time ago.

In Chandra’s history with USACU, she’s gone to us for “three or four” car loans… and she thought of us for her most recent auto loan. We asked her to share her car buying experience with us and she happily obliged:

Q. How was the loan application process for you?
A. The loan process is stress-free! That’s why I always use the CU. The loan team has always been supportive. They always are willing to work with me, and do what they can to accommodate my wishes!

Q. What made you decide to go with an Enterprise Car Sales vehicle?
A. I chose to go with Enterprise for a couple of reasons. 1. I felt the company would have reliable cars in excellent condition, and 2. I like to partner with partners who partner with the CU. Justin and the Sales Manager were a pleasure to work with.

Q. What’s your favorite thing about your new car?
A. I love the space, and that is it fitting to my lifestyle! I’m a soccer mom, and need extra seating, and space for equipment! And it has several “secret compartments”!!

Q. How do you feel knowing that we’ll be donating $100 to the Oregon Food Bank by purchasing an Enterprise Car Sales vehicle during our Drive Away Hunger Car Sale?
A. I feel happy, and blessed to be part of an important cause!

 

Thanks for sharing your experience, Chandra! We’re so happy we could help you find a great deal on a car and give back to the community, all in one.

If you have questions about Enterprise, or our Car Sale, give us a call (503-275-0300), shoot us an email, or just stop by. We’d love to talk!