What is “My Loan Check?”
“My Loan Check” is simply a car loan that is pre-approved by Beacon FCU for a certain amount in which our members can use it just like a check at a dealership.
Essentially, “My Loan Check” means that a member of BFCU will not have to seek financing help from the dealer.
“My Loan Check” will reflect the amount being financed since it’s already set and the member has a price range in mind when visiting the dealership. Without this kind of price range in place, a prospective member-buyer is in danger of being upsold and agreeing to purchase a car that costs more than a member can afford.
With “My Loan Check” from Beacon FCU, the interest rate will be set in advance so that in the complex process of buying a vehicle this additional complexity can be taken out of the equation.