Car Loans For New & Used Vehicles

Having auto loan pre-approval from CUTX gives you the edge when negotiating with dealers, plus a lower interest rate on your car loan.

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972-705-4840

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Special Discounts for CUTX Members

Exclusive Benefits Available to Members
Features
3 Months with No Payments on Auto Loans
Auto Pay Discount
Military & Veterans Discount
Teacher/Educator Discounts
Up To Two Skipped Payments Per Year
Flexible Terms to Adjust Monthly Payment

Get a Free Auto Loan Review

Already purchased your vehicle? Are you sure you got the very best deal? Let us review your Loan Documents for missed opportunities for discounts and savings. A CUTX Auto Loan Document Review is free and could save hundreds, or thousands!

GAP, VSC, Credit & Life Disability

Guaranteed Asset Protection (GAP) For Less

CUTX typically charges significantly less for Guaranteed Asset Protection (GAP) than dealerships do. Cars lose value when they leave the lot. GAP covers the difference between your car’s depreciated value and your loan amount if your auto is stolen or totaled. Protect your vehicle for less with CUTX.

A Better Vehicle Service Contract

CUTX Vehicle Service Contracts (VSC) cost hundreds less than most dealer plans and include 24/7 Roadside Protection, Road Hazard Tire Protection, Trip Interruption and Rental Vehicle Assistance. We cover what happens after the manufacturers warranty expires, for cars up to 20 years old! With low deductibles.

Payment Protection

With Payment Protection, your auto loan will be put on hold or paid in full in case of unexpected life events like a disabling illness or injury, involuntary unemployment, or death. Protect your investment in your vehicle with CUTX for less than what most dealers charge.

Learn More About Car Financing

Sign up for CUTX's Car Buying Email Series to receive more information, tips, and insight about buying a new car or refinancing the one you have.

Two More Ways to Shop For Vehicles

CUTX AutoMarket

No need to run all over town! The CUTX AutoMarket lets you shop for top value, local vehicles right from home; and we have the auto loans and coverage to match. Let CUTX be your one-stop shop to find, finance, and protect your new auto.

Shop Previously Leased Vehicles

Shop for deals on used vehicles through ReNew by FairLease. These vehicles were previously leased through FairLease and returned in great condition with good mileage. Click here to visit the FairLease website and see if any of these cars, trucks, or SUVs suit your fancy!

Save With an Auto Loan Refinance

Did you know you can refinance your vehicle loan? Many people find that when they refinance an auto with CUTX, they get a lower interest rate and a lower monthly payment. Plus, CUTX offers 90 days with no payments. Same car, lower payment.

Leasing Vs. Buying

Leasing Might Be Right for You If….

You’re looking for a lower payment. You don’t want the hassle of buying and selling. You don’t put more than 18,000 miles a year on your car. You’re not prone to accidents. You like the idea of switching to a new car every few years. You don’t care about ownership.

Buying Might Be Right for You If….

You want equity for your payments. You look forward to paying it off and having no more payments. You like customizing your car. You want your automobile for a trade-in or sale later. You drive more than 18,000 miles a year. You want to pick your own insurance rates.

Car Financing Tips

Prepare for Dealer Tactics

Dealer financing can include hidden costs. And dealers often use high pressure tactics: Dragging their feet until you’re tired and hungry; threatening you’ll lose out if you don’t sign; pretending to offer you a secret deal. Know the basics of auto financing before you go, and be prepared to walk away.

Rate Shop Before You Car Shop

People with excellent credit often qualify for loans at half the interest rate of those with poor credit. What you pay in interest makes a huge difference to your monthly payment. To understand what you can afford, know your score and shop for the best interest rate you can qualify for.

Budget for the Extra Costs

Guaranteed Asset Protection, Vehicle Service Contracts, and Payment Protection are costs often added when someone buys a car. However, dealers typically charge much more for these add-ons. Research these insurance plans and their costs before you agree to a loan or agree to these extras.

FAQ - Auto

  1. If you are a member of CUTX: Log in to online banking and make a payment with a funds transfer.
  2. If not a member: Use your financial institution to pay via Billpay
  3. Pay over phone: Call 972-263-9497, choose option 4 for Member Services ($15 Service Fee is applied to phone payments)
  4. Make a payment through Speedpay
  5. Make an automated payment through Telephone Teller:  Call 972-263-9497, choose option 1

Many sites, like Annual Credit Report, Credit Karma, and Nerd Wallet offer free credit scores. Getting your score will tell you what range of interest rate you can expect. It is also important to protect against a scam some dealers use of telling people their score is too low, and they need to pay a higher interest rate. You can use our calculators to figure out what kind of auto rate you may qualify for and roughly what your monthly payment might be.

Many experts suggest you “shop” for interest rates. That means you’ll have to go to various lenders’ web sites or offices and enter your information. They will do an instant credit check and give you an idea of what kind of interest rate they can offer. Even a two percent rate difference can mean thousands of dollars in long term costs, so getting a low rate is important.

If you are pre-approved for an auto loan before you begin car shopping, you know exactly how large a monthly payment you qualify for. This helps to narrow your search to cars you can afford. It also puts you in a better negotiating position with dealers who might otherwise craft a deal that would create a financial problem for you. Lenders who are not dealers don’t have cars to sell, and therefore tend to make loans that are not risky for borrowers.

The longer your loan term, the lower your payments will be. However, when you make payments for more than about five years, you run the risk of owing more than your car is worth. That’s called being “upside down.” Then you may not be able to sell your vehicle until you finish paying off the loan. The average auto loan is 65 months.

Lending institutions like credit unions will only lend you money for a car if your credit score and financial situation demonstrate you’re likely to be able to pay the loan. Likewise, some lenders only lend for a particular network of dealers, and some dealerships only work with a particular network of lenders. Finally, some lenders will not finance certain types of makes and models.

Auto loans can often be approved in only a few minutes, especially if you call or apply online. If you want to work directly with a person, you can always stop by one of our locations.

CUTX requires that you carry proper insurance on your loan. To verify insurance, please click here and provide the declaration page provided by your insurance company that shows Credit Union of Texas listed as lien holder. A copy of your insurance card is not acceptable for this documentation.

If you prefer to send us your proof of insurance by mail or fax, please mail a copy of your declarations page to:

CUTX

PO Box 690588

San Antonio, TX 78269

This address is for providing proof of insurance only. Please do not send your loan payments to this address.)

You can also contact us with any other questions about providing proof of insurance at these numbers:

866-382-0069 Insurance Service Center

866-830-7922 Fax

1 - Interest will accrue during the deferment period. Estimated monthly payment example: Loan amount of $20,000 at a rate of 2.39% APR for 36 monthly payments, with no monthly payment for 90 days, would have a monthly payment of $578.60. Loans and Rates are subject to credit approval. Rates and terms are subject to change without notice. Offer excludes existing auto loans already financed at CUTX.

2 - APR = Annual Percentage Rate. Rate shown is the lowest rate available, no additional discounts apply, and is accurate as of January 18, 2019. Loans and Rates are subject to credit approval. Rates and terms are subject to change without notice. Estimated monthly payment example = 36 monthly payments of $28.93 per $1,000 borrowed at 2.39% APR. Offer excludes all loans already financed at CUTX.