Get pre-qualified before you test drive

Buying a new or pre-owned vehicle can be a complex process. Finding the best vehicle to fit your personal needs and budget takes time, effort, patience, and research. And although obtaining an auto loan from a dealership may seem like the quickest and most convenient choice, it may not be the most budget-friendly for potential car buyers.

Pros of getting pre-qualified at TTCU before heading to the dealership:

Interest rates are typically lower than dealerships and banks

Applying for an auto loan at a Texas credit union may be the most affordable option for consumers shopping for new or pre-owned vehicles. Auto loan rates from credit unions are usually much lower than rates available through car dealerships. Unlike banks, credit unions are not-for-profit financial organizations, and members are considered part owners. This means they have a say in certain credit union operations. 

Ancillary products like GAP insurance, multi-shield protection, disability insurance, or an extended warranty can also be more affordable when obtained through a credit union instead of an auto dealership. Credit unions also provide lower loan minimums for anyone purchasing older, pre-owned vehicles. 

We care about your financial wellness

At TTCU, you aren't just another customer. We understand that buying a car is a huge investment, and we have qualified financial experts here to help you choose the loan terms that work best for you and keep you informed at each stage of the car buying process. 

The downside of financing at the dealership:

Car dealership loans are usually more expensive

It’s often cheaper to finance your new or pre-owned vehicle by approaching your bank or credit union directly rather than using the dealership as a “middleman.” The average car dealership may use many different lenders that offer multiple loans for prime and subprime borrowers. This may include traditional banks or independent finance corporations. Many of these lenders only offer indirect loans unavailable to the average consumer.




Because these loans can only be obtained through a dealership, some will raise the interest rate to pull in more profit. Although many lenders limit the markup, some dealerships will tack on significantly more interest to each auto loan. 

No personal relationship

There’s much less of a personal touch when financing your auto loan through a dealership. You likely have an established relationship with your local bank or credit union, so it may be easier to negotiate your vehicle’s loan terms or establish lower payments down the line. A car dealership that you are visiting for the first time will likely be less willing to work with you if issues ever arise in the future. 

Get pre-approved with TTCU

Whether you’re searching for a new car, truck, or SUV, TTCU offers auto loans with flexible terms and low interest rates to meet your needs. Our simple process allows you to apply and get pre-approved online so you can start shopping for your dream car right away. Learn more about getting a low-interest auto loan from Texas Tech Credit Union by visiting or scheduling an appointment today!