I was having dinner with one of my close friends the other evening and she was telling me about her son who couldn’t possibly be old enough to be graduating from college – but he is! He’ll be starting his new job soon after graduation.
Then began the thoughts and anxiety that come along with her child’s next step – will he be able to afford living independently? How do I help him as he begins this next exciting chapter in his life? As parents, we want to do whatever we can to make sure our children are successful and comfortable. Our help may seem minimal in the scheme of things, but I assure you as I did my friend, everything helps as our kids at any age embark on great new ventures or stages in life.
We began talking about his transportation and she explained that he was in need of a more reliable car, but certainly couldn’t obtain a loan on his own since he’ll be starting his first job. He does have an old car that he can trade in for a down payment. I stopped her right there – “You have to check out the Parent Assisted Auto Loan program at Truliant.” I quickly began to tell her about how this program could help their family.
Her son can qualify for a car loan with their assistance on up to $12,000 for a 60-month term. There is a $500 minimum down payment required. A parent (but a grandparent or guardian can as well) would be the co-signer of the loan. He could also get the benefit of Truliant’s Auto Buying Service to help find the best price available for his new car and receive a .25% interest rate discount. Plus, if he establishes an account with Truliant and uses the automatic payment plan, he’d receive another .25% interest rate discount. These are both very valuable discounts to someone just starting out.
Truliant is so good about helping their members with any kind of situation – they are always glad to review all of the available options so that you can decide which one works best for you.
Check it out if you or someone you know might be in the market to help a recent graduate or young person who hasn’t gotten their credit record established yet. The Parent Assisted Auto Loan at Truliant Federal Credit Union is a valuable option. Visit their website TruliantFCU.orgtoday – you’ll be amazed!