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.
Special Discounts for CUTX Members
|Exclusive Benefits Available to Members|
|120 Days with No Payments on Auto Loans²||✓|
|Auto Pay Discount³||✓|
|Military & Veterans Discount³||✓|
|Up To Two Skipped Payments Per Year⁴||✓|
|Flexible Terms to Adjust Monthly Payment||✓|
GAP, VSC, Payment Protection
A Better Vehicle Service Contract
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
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!
Leasing Vs. Buying
Leasing Might Be Right for You If….
- You want to save 40–50% on your monthly payment versus buying.
- Getting the car you want at a lower monthly payment is important to you.
- You want to put no money down.
- You like to get a new vehicle every 3–4 years.
- You prefer Personal Vehicle Concierge taking the hassle of car/dealership shopping out of the equation, which includes delivery to your home or office.
Buying Might Be Right for You If….
- You keep your cars for over 6 years.
- You pay off your loans so that you won’t have payments for a few years.
- You drive in excess of 20,000 miles per year.
Car Financing Tips
Prepare for Dealer Tactics
Rate Shop Before You Car Shop
Budget for the Extra Costs
FAQ - Auto
- If you are a member of CUTX: Log in to online banking and make a payment with a funds transfer.
- If not a member: Use your financial institution to pay via Billpay
- Pay over phone: Call 972-263-9497, choose option 4 for Member Services ($15 Service Fee is applied to phone payments)
- Make a payment through Speedpay
- 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:
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
We are now redirecting from the Credit Union of Texas (CUTX) website and to the FairLease website.
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1 - APR = Annual Percentage Rate. Rate shown is the lowest rate available for up to 24 months on new autos, up to 36 months on used, no additional discounts apply, and is accurate as of April 8, 2020. Loans and Rates are subject to credit approval. Rates and terms are subject to change without notice. Offer excludes all loans already financed at CUTX. Additional terms and conditions apply. Not a commitment to lend.
2 - Interest will accrue during the deferment period. To be eligible for the no payment for 120 days applicant must have FICO score of 680 or above.
3 - Rate discounts - Members may be eligible for the following rate discounts: .10% for autopay; .20% for military, veterans, educators, and first responders; .20% for using our Auto Market Dealer network.
4 - Credit cards, lines of credit, leases, home equity plans, mortgages, and loans more than 15 days past due are not eligible for skip-a-payment. Minimum of (4) four payments made on the loan. Interest will accrue during the skip pay period and when payment resumes unpaid interest will be collected first. Other eligibility requirements and processing fees apply.