Getting a loan and buying a new car is exciting yet nerve-wracking. Whether you're buying your first vehicle or trading in the family sedan, it's not unusual to drive away wondering whether you got the best deal. Hawaiian Tel Federal Credit Union, with branches throughout Oahu and one coming soon on Maui, knows how confusing financing your car can be, which is why they make getting a loan as easy as possible.

One way to simplify the process and help you compare options is to secure financing before you shop for a car. After reviewing your credit and financial documents, Hawaiian Tel Federal Credit Union or your local lender will pre-approve you for an auto loan, giving you a clear idea of the car price you can afford, your interest rate, and your expected payment. Having pre-approval for a loan will strengthen your bargaining power at the car dealership, helping you to get the best price.

Because buying a car is a long-term commitment, you should try to get as much information about the process as possible. Before signing loan documents, ask your lender whether:

• Your interest rate  will be different if you buy a new vehicle rather than a used vehicle however, at  Hawaiian Tel Federal Credit Union both new and used car loan rates are the same. You'll get the same great rate no matter what you choose.

• There's flexibility in the payment plan
• Refinancing is an option
• You can purchase a car from any dealer you choose

The lending market is becoming more competitive, so you’re likely to have several loan options. Comparing at least a few loan providers before deciding will help you get a great deal with no regrets.

Since 1936, Hawaiian Tel Federal Credit Union has been helping members realize their dreams, providing everything from savings accounts to affordable auto loans. To learn more about their services and find your nearest location, visit hitelfcu.com or call them on Oahu at 832-8700 or toll-free at (800) 272-5255.