Common Car Loan FAQ

Do I need to go to a Lake Trust Credit Union office to close my Auto Loan?
With Lake Trust Credit Union, you have choices. You can close your Auto Loan in any one of three convenient ways:

1. At any Lake Trust Credit Union office
2. At a dealership that participates in our Indirect Auto Loans Plan.
3. Through the mail. We'll mail your loan documents to you for your signature.

Do I need to use my car as collateral?
With Lake Trust Credit Union, you have other options for collateral – a Certificate of Deposit Secured Loan or Home Equity Loan. Your tax consultant can help you determine if there are any tax benefits in using your home as collateral. You may also qualify for an unsecured loan.

How do you determine my interest rate?
Your interest rate is based on the amount you borrow, how long you borrow, your credit history, and the type of collateral. As a Lake Trust Credit Union member, you'll know you're getting a competitive rate, often the best possible available.

Why should I finance my auto through Lake Trust Credit Union?
Compare our car loan rates and terms with other financial institutions. You'll find we're very competitive, often the best available. It's easy to apply. Just choose one of three convenient options:

1. At the dealership - all paperwork and approvals can be done right at the dealership.
2. Apply by phone during regular business hours. In most cases, you'll have approval within minutes.
3. Complete your loan application online.
    

Have more car loan questions? Give us a call, 888.267.7200 , today!