EARLY CLOSING - WYTHEVILLE, VA:
Due to inclement weather, on Thursday, Nov. 15, 2018, Truliant's Wytheville, Va. location will close at 2 p.m.
DELAYED OPENING:
Due to icy conditions, on Wednesday, Dec. 12, 2018, Truliant's Piedmont Triad locations, including our headquarters office and Randolph and Alamance County locations, will open at 10 a.m. All other locations will have normal business hours. Open accounts and apply for loans here, or call us at (800) 822-0382.
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Finding the Right Auto Loan: More Than Monthly Payments

Contributed by: Dumonta

This message from our President and CEO Marc Schaefer appears in our Summer 2017 Quarterly Newsletter

As many of us think about planning, or setting off on that summer trip to the beach or mountains, visiting our families or some other destination (as I hope most of us can), we are thankful for relatively low gas prices, low loan rates on auto loans and lower prices for pre-owned cars.

Truliant understands that members don’t really care about a car loan; they just want the right transportation that will be meaningful to their lives - this summer and throughout the year. In some financial services circles, it becomes common understanding that consumers worry more about the amount of their monthly car payment than their interest rate or the cost of the vehicle.

In our TruWorld (sorry, I couldn’t resist), we want you to fully understand the cost of ownership for the life of your loan and vehicle. Why? Because if you overpay you’ll have less money to devote to building your financial foundation for the future. It matters to you and it matters to us. While your monthly payment impacts your budget and what you have left to spend on other things, making a smart decision on how that one transaction relates to your overall plan can change the quality of your life in the future.

For example, for a competitor auto loan of $25,000 with a 72-month term and an interest rate of 3.52% APR,1 the average monthly payment will be $385, for a total cost of $27,769. A total of $2,769 in interest will be paid during the life of the loan.

At Truliant, an auto loan of $25,000 with the payment term reduced to 60 months, and a 2.24% APR,2 increases the average monthly payment to $441 a month, but lowers the total cost of the loan to $26,450, saving $1,319 in total interest.
 
Through our guidance on how much to spend on a car relative to your other needs, our low car loan rates and partnership with the Credit Union Auto Buying Service (CUABS®),3 we help ensure overall value. By the way, even if you don’t think you have a plan, you are actually creating one with each transaction.  

Our caring about the choices you make in this one area is a reflection of the broader value and purpose of your member-owned credit union. We’re here for the long term - already over 65 years - to improve our members’ lives. That’s why we herald the continuity of service by Truliant versus the community banks that seem to be merging non-stop (See Our Members Are Our Top Priority message penned by Chief Operating Officer Todd Hall in our Winter 2017 TruInsight newsletter).

As your and your family’s financial partner for the long-haul, we’ll be here to help you set your targets, monitor your own progress and make course corrections as needed. That’s why we care about your loan rate as much as your monthly payment and hope to be an important part of your financial life, as you are an important part of Truliant as a member-owner. And that’s where the rubber hits the road of a member’s Life Improved.

APR = Annual Percentage Rate (1) Source: SNL Financial May 2017 Group Loan Rankings. North Carolina Average. (2) Rate includes 0.25% rate discount and is minimum rate for category. Rates/Terms subject to change prior to consummation of the loan. Loans subject to credit approval. All applicable discounts subject to change pursuant to terms of the loan. (3) CUABS is an independent NC licensed automobile dealer not owned or operated by Truliant.

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