Car Buying 101: What You Need To Know

Where to start? Who said that buying your first car would be easy? Chances are that you’ve received lots of unhelpful and conflicting advice on your way to the dealership. So, before you take that test drive, here are six car buying basics that you should know:  Loan pre–approval is your most powerful negotiation tool. Get this first! If you know your approval limit and interest rate, you’ll be able to effectively strategize. PEFCU usually offers better rates and terms than banks. Just reach out for more info.  The total price is more important than the monthly payment. This is very basic. Many people think if they can handle the monthly payment, it doesn’t matter how long it takes to pay off the car…

January 28, 2025Borrowing Basics 3 Comments
Car Buying 101: What You Need To Know

Where to start? Who said that buying your first car would be easy? Chances are that you’ve received lots of unhelpful and conflicting advice on your way to the dealership. So, before you take that test drive, here are six car buying basics that you should know:  Loan pre–approval is your most powerful negotiation tool. Get this first! If you know your approval limit and interest rate, you’ll be able to effectively strategize. PEFCU usually offers better rates and terms than banks. Just reach out for more info.  The total price is more important than the monthly payment. This is very basic. Many people think if they can handle the monthly payment, it doesn’t matter how long it takes to pay off the car…

Ways to Improve Your Credit in the New Year  

As we prepare for the new year, now is the perfect time to reflect on our financial habits and set goals for improvement. One crucial aspect of your overall fiscal health is your credit. Your credit score is a critical factor in determining your financial well-being, impacting your ability to be approved for loans, buy a home, or even land a job in some cases. If improving your credit is one of your financial resolutions for the upcoming year, we are here to help with some tips to guide you on your journey to better credit.   Make sure you’re opted-in…

January 24, 2025Borrowing Basics No Comments
Ways to Improve Your Credit in the New Year  

As we prepare for the new year, now is the perfect time to reflect on our financial habits and set goals for improvement. One crucial aspect of your overall fiscal health is your credit. Your credit score is a critical factor in determining your financial well-being, impacting your ability to be approved for loans, buy a home, or even land a job in some cases. If improving your credit is one of your financial resolutions for the upcoming year, we are here to help with some tips to guide you on your journey to better credit.   Make sure you’re opted-in…

Benefits of Refinancing Your Auto Loan

Are your car payments wrecking your budget without putting a dent in your loan? Are you throwing away money in interest payments each month? If so, refinancing your auto loan may be an easy solution. It’s a painless process that could keep your money in your pocket.   Let’s review what auto refinancing is and how to decide if it’s right for you.   What is Auto Loan Refinancing?   Refinancing your auto loan sounds hard, but it’s simple. When you originally bought your vehicle, you likely financed it with the dealership or some other lender. By refinancing your loan, you are just switching it from your current lender to a new lender to save money.   Why Should You Refinance?   Better Rates: You would want to refinance your auto loan to take advantage of better loan rates. If auto loan rates are…

January 14, 2025Borrowing Basics 1 Comment
Benefits of Refinancing Your Auto Loan

Are your car payments wrecking your budget without putting a dent in your loan? Are you throwing away money in interest payments each month? If so, refinancing your auto loan may be an easy solution. It’s a painless process that could keep your money in your pocket.   Let’s review what auto refinancing is and how to decide if it’s right for you.   What is Auto Loan Refinancing?   Refinancing your auto loan sounds hard, but it’s simple. When you originally bought your vehicle, you likely financed it with the dealership or some other lender. By refinancing your loan, you are just switching it from your current lender to a new lender to save money.   Why Should You Refinance?   Better Rates: You would want to refinance your auto loan to take advantage of better loan rates. If auto loan rates are…

Tips to Improve Your Loan Approval Odds

Applying for a loan often feels daunting to many – but have no fear. You can employ several strategies to improve your chances of being approved. Whether you’re looking to finance a new car, buy a home, consolidate debt, pay for education expenses, or borrow for another need, preparing your finances beforehand can make all the difference.   Here are some tips to help you increase your likelihood of being approved for your next loan – and how to secure more favorable loan terms.     Determine What You Can Afford   Knowing how much you can afford to borrow before applying for…

August 14, 2024Borrowing Basics, Wallet Wins No Comments
Tips to Improve Your Loan Approval Odds

Applying for a loan often feels daunting to many – but have no fear. You can employ several strategies to improve your chances of being approved. Whether you’re looking to finance a new car, buy a home, consolidate debt, pay for education expenses, or borrow for another need, preparing your finances beforehand can make all the difference.   Here are some tips to help you increase your likelihood of being approved for your next loan – and how to secure more favorable loan terms.     Determine What You Can Afford   Knowing how much you can afford to borrow before applying for…

Save MORE on Back 2 School Purchases 

Save on back-to-school shopping by taking advantage of these tax-free shopping days in your state!   Alabama: 7/19/2024 – 7/21/2024 Florida: 7/29/2024 – 8/11/2024 South Carolina:8/2/2024 – 8/4/2024 Tennessee: 7/26/2024 – 7/28/2024  Virginia: 8/2/2024 – 8/4/2024 You can also take advantage of PEFCU’s great rates on credit cards and credit card rewards you actually want! Apply for our PEFCU Visa® Credit Card today! If you have additional questions about our products or services, give us a call at (800) 226-6673. Approval is based on creditworthiness. 

June 27, 2024Borrowing Basics, Wallet Wins No Comments
Save MORE on Back 2 School Purchases 

Save on back-to-school shopping by taking advantage of these tax-free shopping days in your state!   Alabama: 7/19/2024 – 7/21/2024 Florida: 7/29/2024 – 8/11/2024 South Carolina:8/2/2024 – 8/4/2024 Tennessee: 7/26/2024 – 7/28/2024  Virginia: 8/2/2024 – 8/4/2024 You can also take advantage of PEFCU’s great rates on credit cards and credit card rewards you actually want! Apply for our PEFCU Visa® Credit Card today! If you have additional questions about our products or services, give us a call at (800) 226-6673. Approval is based on creditworthiness. 

6 Essential Credit FAQs Answered

Building and maintaining an excellent credit score should be a top financial priority for every adult. Your credit score plays a significant role in how much interest you pay on loans, whether you’ll be approved for financing, and it can even impact whether you can rent an apartment or land specific jobs.  However, the world of credit reports and scores can be a bit confusing – and overwhelming. Not to worry. We’re here to help answer some of the more common questions about credit to ensure you’re on the right path to locking in an exceptional score.  #1: What Is…

May 22, 2024Borrowing Basics No Comments
6 Essential Credit FAQs Answered

Building and maintaining an excellent credit score should be a top financial priority for every adult. Your credit score plays a significant role in how much interest you pay on loans, whether you’ll be approved for financing, and it can even impact whether you can rent an apartment or land specific jobs.  However, the world of credit reports and scores can be a bit confusing – and overwhelming. Not to worry. We’re here to help answer some of the more common questions about credit to ensure you’re on the right path to locking in an exceptional score.  #1: What Is…

Is an Auto Loan Preapproval Necessary?

There is no doubt it can be exciting when it is time to purchase a new car. Your car reflects you and your personality, so exploring different models and features is fun. With all the excitement in the air, it’s easy to be drawn to the dealership to see the vehicles up close and schedule a test drive. However, that’s one of the first and biggest mistakes when it comes to car-buying.   Dealerships will use every sales trick and tactic they know to close the deal right then – whether you are ready to buy or not. This scenario can…

May 21, 2024Borrowing Basics No Comments
Is an Auto Loan Preapproval Necessary?

There is no doubt it can be exciting when it is time to purchase a new car. Your car reflects you and your personality, so exploring different models and features is fun. With all the excitement in the air, it’s easy to be drawn to the dealership to see the vehicles up close and schedule a test drive. However, that’s one of the first and biggest mistakes when it comes to car-buying.   Dealerships will use every sales trick and tactic they know to close the deal right then – whether you are ready to buy or not. This scenario can…

The Power of Auto Preapproval

The Power of Auto Preapproval  Ready for a new ride? Whether you want a change or your current car is showing signs of wear and tear, it can be overwhelming to know where to start. You’re not alone. With so many options out there, it’s easy to feel overwhelmed. But here’s a game-changer you might not have considered: an auto loan preapproval. At PEFCU, we call this an Express Pay Draft. It’s like having a golden ticket to a car shopping paradise, giving you the freedom to explore without stressing about your budget. So, if you’re even slightly tempted by…

April 16, 2024Borrowing Basics 2 Comments
The Power of Auto Preapproval

The Power of Auto Preapproval  Ready for a new ride? Whether you want a change or your current car is showing signs of wear and tear, it can be overwhelming to know where to start. You’re not alone. With so many options out there, it’s easy to feel overwhelmed. But here’s a game-changer you might not have considered: an auto loan preapproval. At PEFCU, we call this an Express Pay Draft. It’s like having a golden ticket to a car shopping paradise, giving you the freedom to explore without stressing about your budget. So, if you’re even slightly tempted by…

Your Balance Transfer Checklist: Before & After

Credit card debt has a way of sneaking up on you. Before you know it, the balances can become a financial burden and a challenge to pay off. This is especially true if you’re managing multiple cards with different balances, payment amounts, and due dates.  Finding the right tools to alleviate debt is an essential step on your path to financial freedom. One solution that can help you in your journey is called a balance transfer. Balance transfers enable you to streamline your financial obligations into one solution – providing immediate financial savings and stress relief.   If you’re committed to…

March 28, 2024Borrowing Basics, Wallet Wins No Comments
Your Balance Transfer Checklist: Before & After

Credit card debt has a way of sneaking up on you. Before you know it, the balances can become a financial burden and a challenge to pay off. This is especially true if you’re managing multiple cards with different balances, payment amounts, and due dates.  Finding the right tools to alleviate debt is an essential step on your path to financial freedom. One solution that can help you in your journey is called a balance transfer. Balance transfers enable you to streamline your financial obligations into one solution – providing immediate financial savings and stress relief.   If you’re committed to…

Debt Consolidation: How It Works

If you’re like most, you probably have multiple reoccurring debts that must be paid off. These debts can consist of student loans, personal loans, credit cards, medical bills, and car payments. It can be hard to pay off the debts separately because each debt has a different balance, payment period, and interest rate.  Keeping track of how much you have to pay for each debt and when you have to pay it can be extremely difficult. If you find yourself in a whirlwind of loan and credit card payments, debt consolidation may be the perfect solution for you.   What is…

February 29, 2024Borrowing Basics No Comments
Debt Consolidation: How It Works

If you’re like most, you probably have multiple reoccurring debts that must be paid off. These debts can consist of student loans, personal loans, credit cards, medical bills, and car payments. It can be hard to pay off the debts separately because each debt has a different balance, payment period, and interest rate.  Keeping track of how much you have to pay for each debt and when you have to pay it can be extremely difficult. If you find yourself in a whirlwind of loan and credit card payments, debt consolidation may be the perfect solution for you.   What is…