Financing Your New Or Used Vehicle
Purchasing a new or used vehicle can be a fun and exciting experience! But it can be overwhelming if you aren’t sure of the process. Here are a few things to help you get started.
1. Where do I begin?
Your Legacy Federal Credit Union has multiple convenient ways for you to apply for an auto loan.
- Apply online
- Apply in person at 25 Shaffer Park Drive
- Apply over the phone by calling 419-448-0191
2. Do All Financial Institutions Have The Same Rates?
No! We encourage you to call around and shop for your best rate. We want you to be well informed before you step foot into any dealership or financial institution. Did you know that you can request that a dealership sends your auto application to specific financial institutions? You are not obligated to finance your loan with anyone until the contract is signed, and you should always be allowed the time to consider your options. You are going to take the time shop for the best car and deal for you, so why not shop your rate as well?
3. What are our Rates and Terms?
Since rates can change periodically and are based on the year of the vehicle, the term of the loan, and your credit score, we ask that you contact us for more information.
4. How much will I qualify for?
One of the options you have prior to heading to the dealership is getting a pre-approval. Getting a pre-approval letter lets the dealership know the amount you have been approved for and that financing will be taken care of.
5. What should I know before heading to a Dealership?
You can request to have your financing go through YLFCU! But did you know that you can sign all our paperwork at the dealership as long as they are within our network? Now, that’s one-stop shopping for you!
6. I’m ready to purchase my vehicle! Now What?
Before you sign on the dotted line, you may want to look at our GAP FAQ’s page and our Credit Life & Disability FAQ’s page to see if these are options you may want for your auto loan! The Finance Department at the dealership will ask you these questions.
7. Can I Refinance My Auto Loan?
Yes! Regardless of where the original contract is, you can refinance your loan. Take note of what additional services or products have been added to your original loan, as some products do not transfer during a refinance. However, as listed above, we offer GAP Insurance and Credit Life and Disability Insurance. These non-transferable products can be purchased through us if you should choose to refinance here.
We hope that this information has helped you to understand the process of obtaining an auto loan. Let us know when you’re ready to finance and we will be more than happy to assist you! We prioritize making this as seamless as possible for you! Just remember these words: shop rate, shop term, shop for your next vehicle, and head over to Your Legacy Federal Credit Union for a great rate!