Lenders want to see that you will be able to repay your debt. The most important factors typically taken into account include credit score and your debt-to-income ratio. If you have a poor credit score, that doesn’t automatically mean you are beyond approval, as income and vehicle type may affect your chances.
If you decide to wait and save, improve your credit score in the meantime with the ECCU mobile app. Keep a close eye on your score and get personalized suggestions for how to improve it. When you’re ready to apply, ECCU makes the approval process simple. With an easy 3-step online application and quick approvals, you can spend less time waiting.

Choosing the Best Auto Loan Lender
Because applying for an auto loan involves a hard inquiry, your credit score may dip slightly at first. That’s why it’s important to explore your options before you apply. At ECCU, our online calculators make it easy to compare different loan scenarios or even see if refinancing your current loan could save you money. When reviewing options, remember to look beyond just the monthly payment, consider the overall interest rate and repayment term. Focusing only on the short-term can sometimes lead to paying more over the life of the loan, and we’re here to help you avoid that.
Members of Energy Capital Credit Union have access to interest rates as low as 4,85 % APR* with local service that can't be beat. For a limited time, you can also take advantage of 90 days with no payments*! Pre-approvals provide additional bargaining power at the dealership and could potentially decrease the total price you pay for the vehicle. With a Premiere Check from ECCU, you are essentially given a blank check, and the dealership will become more likely to negotiate on your offer.
Although it’s tempting to accept an enticing offer, be sure to consider the total life of the loan. Don’t get locked into a contract that doesn’t allow refinancing if rates change. Most lenders allow this, but be careful that you aren’t agreeing to any unreasonable terms.
If a lower rate becomes available, or you want to lower your monthly payments, among several other factors, refinancing your existing auto loan might be a smart choice. Credit Unions return profits to members in the form of lower rates, meaning that if you’ve financed your auto loan with another lender, you could save money from refinancing with Energy Capital Credit Union. Auto loans don’t stop at approval, so be sure to stay proactive by monitoring interest rates.
Convenient Protection and Benefits
If you’re looking for a loan with flexibility and top-tier service, financing with ECCU might be the right choice for you. Your convenience is our priority. Applications for auto loans and payments can be made online or on the ECCU mobile app, and you never have to miss a payment with automatic payments.
Streamline your new or used vehicle purchase by finding, financing, and insuring all in one place. With Energy Capital Insurance, you can be prepared for anything. Add on auto protection features to your loan, such as GAP protection, debt protection, and more.
We are here to help!
You have access to certified financial counselors on staff to get guidance to help make all of your financial decisions. Contact us today to discuss the best choice for you to start driving sooner!
