Auto Loans Des Moines, IA | Premier Credit Union

Shopping for an Auto Loan in Central Iowa? Here's what to know

Auto Loans Educational Resources Published August 29, 2023

Auto Loans Des Moines, IA | Premier Credit Union

Shopping for an Auto Loan in Central Iowa?

How do I get the best auto loan rate in Iowa?

As with most lending products, a good credit score will go a long way. The higher, the better! If you feel yours might not be so great, take the time to get that taken care of – paying your bills and credit card payments on time is the easiest way to raise your credit score.

When it comes to auto loan rates in Iowa, you will typically see the best finance rates for newer and current vehicles as opposed to older, used vehicles. Be aware of your own situation and needs (commute, towing, leisure activities, etc.) when you determine what kind of car, truck, or other vehicle you are looking for, as well as the year.

What is the best way to finance a car?

For a first-time buyer all the way to a seasoned buyer, it helps to do your research ahead of time – knowing how much of a downpayment you can put down and how much you can afford on a monthly payment will put you in a much better situation when it comes time to purchase. Premier has a loan calculator right on our website that can give you a better idea of what these payments might be.

Premier credit union offers a variety of rates and flexible terms, to ensure you get an auto loan that fits your exact situation. Our auto loans also offer no payments for up to 90 days – which can help give you a little breathing room before you have to start making payments! We’ll even make sure the appropriate Iowa taxes, title and license are all included in your loan, so you can be on the road faster! We make the borrowing process simple and affordable – now and in the future. Should the need arise, we’ll also be here if you need to refinance your vehicle.

Should I get an auto loan from a bank, credit union or dealership?

Traditionally, credit unions will have lower rates than both banks and car dealerships. Some dealerships may appear to have lower finance rates, but often they will include extra warranties or insurance products in order for you to get the best rate. This isn’t the case at Premier Credit Union. We will clearly review all additional products and give you the option to accept or deny. We can even get you pre-approved ahead of time – showing a dealership that you are serious and ready to purchase.

Sometimes, dealers will offer to do research on your behalf to get you the best loan rate with one of their preferred Iowa lenders. Since they only look within their own network, this might not necessarily result in the best auto loan rate for you.

About us:

Premier Credit Union is a full-service financial institution serving Central Iowa, with branch offices in downtown Des Moines, Urbandale, West Des Moines, Sioux City and Ames. At Premier, our mission and reason for existing is to Make Life Better for you, our member!

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