Houston Banking Rates

Best Houston Auto Loan Rates, Tips & Insights From Space City Credit Union

Houston auto loan

Buying a car is a big financial commitment, especially for first-time car buyers who are unfamiliar with how to find the best Houston auto loan rates. To help demystify the car-buying experience, Houston Banking Rates sat down with Craig Rohden, President and CEO of Space City Credit Union, to learn industry-proven tips on finding a cost-conscious auto loan with terms that benefit Houston residents’ savings goals.

Here is what Craig Rohden had to say:

1) Do you offer free Houston auto loan quotes? If so, what are the steps a consumer would take to obtain a no-obligation quote?

At Space City Credit Union, our mission is to make finding a Houston auto loan suited to our members’ needs easy and convenient. All prospective borrowers need to do is click on the “Free Quote” link located on the credit union’s website in the Auto Finance Center. Also, apply on the credit union web site and get pre-approved first, this is paramount if you want to save the most money!

2) What is the typical turnaround time for a car loan application to be processed and funded?

We know that our members are busy people, so we always strive to work on their timeline rather than ours. When it comes to processing and funding car loan applications, most requests are handled within the same day or in the first 24 hours of receiving the application; it really depends on the member’s needs. If you call, we can approve you over the phone and on the spot.

3) What are your three top tips for buying a car in Houston?

Pre-planning is the best way to have a successful Houston auto loan search experience. The three essential steps to securing an affordable auto loan, however, are as follows:

  • Get pre-approved. Being armed with a Space City Credit Union pre-approval is not only empowering for car buyers, but also relieves borrowers from the pressures of buying a new car. Essentially, you know exactly how much car you can afford and budget for, so it’s the salesperson who must work with your price range, instead of the other way around.
  • Use our Dealer Select Network. The Space City Credit Union’s Dealer Select Network allows members to take advantage of deep relationships that we’ve already established long ago with local dealers. The best deals are often found when utilizing our connections.
  • Check in with Space City Credit Union. Keep your Space City Credit Union loan officer on speed dial while at the dealer!  You will have questions when closing the deal and your loan officer is the only one on YOUR side.

4) How can a borrower determine how large of a Houston auto loan he or she can afford?

The best way to assess how big of a Houston auto loan borrowers can receive is to seek pre-approval from Space City Credit Union. Submit an auto loan application online and a Space City CU loan officer will contact you with the status of your loan request. You can also use our easy loan calculators on our web site.

5) Are there any options for someone with a car loan that’s too expensive?

There’s always an option for individuals who are stuck with a high-cost Houston auto loan. To find out whether Space City Credit Union can help ease the financial hardship associated with another institution’s auto loan terms through refinancing, talk to one of our loan officers to learn more. You might qualify for a rebate when you refinance your auto with Space City CU, up to $250.00.

6) What’s the difference between an auto loan from a credit union and an auto loan from a bank or finance company?

As a non-profit financial cooperative, all profits earned by Space City Credit Union are directed to our members in the form of improved products and services, as well as competitive interest rates on Houston auto loan options. In the end, financing a new car with Space City Credit Union will be better and cheaper for your wallet.

Craig Rohden was hired as President/CEO of Space City Credit Union in 1994. Mr. Rohden is active in the credit union community and has held positions on numerous boards of directors, including the Credit Union Manager’s Association, the Houston Chapter of Credit Unions, the Greater East End Management District and Space City Credit Union, among others. Mr. Rohden holds a Bachelors degree in Business Management and resides in League City, Texas.