Eagle Community Blog

Like most people, you probably receive loan offers regularly in the mail or via email. Whether for auto loans, credit cards, debt consolidation loans, or home loans, the verbiage is probably very similar – they all offer you the opportunity to apply for a loan.

However, you may have noticed that some of the solicitations reference being “pre-qualified,” while others say “pre-approved.” These terms seem similar, but they actually have two separate meanings. Understanding their differences could give you some insight into where you stand with the lender and what your next steps should be.

You’ve got mail! But beware, because this particular missive telling you that you’ve been preapproved for a large loan – maybe even a mortgage – may not be as it seems! The exciting news may be accompanied by a check that’s made out to you and even for the full loan amount! It’s a dream come true. Until, of course, it all turns into a living nightmare. 

Here’s what you need to know about preapproval scams and how to stay safe.

Thousands of drivers are grappling with this question as gas prices peak. While an electric vehicle (EV) might be the right choice for many, there are lots of variables to consider before making this decision. Here’s what to know about electric cars before going this route:

Refinancing a large loan, such as a motorcycle loan, into one that offers more affordable payback terms can make a huge difference in a monthly budget. Here are six reasons you may want to refinance your motorcycle loan through your credit union. 

 

With cars in hot demand, and selling at all-time high prices, many lease customers are looking at trade-in values for their vehicles with the intention of buying out their lease. While this can be a smart choice for many consumers, it’s important to consider all relevant factors before making a decision. Here’s what you need to know about buying out your lease.

For some people, buying a new car is exhilarating. After all, the thought of driving a brand-new vehicle with all the bells and whistles is exciting. On the other hand, many others may find the process intimidating and stressful.

Buying a new car can be challenging because it’s not something you often do. On the other hand, dealerships sell vehicles all day, every day, and know exactly how to work deals in their favor. For this reason, members often leave wondering if they got a good deal. 

Regardless of whether you’re buying your first car or third, everyone wants to feel like they got the best deal possible. Before heading to the dealership for your next vehicle, create a plan using the following tips to ensure you drive away happy.

Buying your first car is an exciting experience! However, buying a car also means you’ll have additional expenses each month. If financing your vehicle, you’ll have to consider the down payment and ongoing monthly payments. Plus, you will need to budget for gas, insurance, and maintenance. While saving for your first car may take some time, you’ll be on the road to freedom in no time by utilizing these seven tips.

You and debt are so over. You’ve just about had it with those endless piles of credit card bills and those hideous numbers that never seem to get any lower. It’s time to kiss that debt goodbye!

Getting rid of high debt will take hard work, willpower and the determination to see it through until the end, but it is doable. Here, we’ve outlined six steps to help you start crushing debt today. 

Whether you’re purchasing your first car or your seventh, buying a new vehicle is exciting. From the model, features, and color, you have many important decisions to make. However, that excitement can wane the minute you start talking about finances.

Because vehicles come with higher price tags, most people cannot pay cash for a new car. Instead, they turn to auto loans for their financing needs. Before you sign on the dotted line, it’s crucial that you understand the most common terms associated with vehicle loans and how they will impact your finances.

Sometimes loans and borrowing money can have a negative connotation. The truth is that loans are powerful instruments that can drastically improve your financial standing when used properly. Whether you’re investing in yourself through higher education, purchasing a home for your family, or just need cash flow for monthly expenses, loans often make the impossible possible.

However, while loans may serve a financial purpose, that doesn’t mean you should come to rely on borrowed funds. Instead, use the loan as intended and work to become debt-free as quickly as possible.

Formulating a plan to pay off loans early is a great way to save on interest and free up valuable funds for other needs.

If you’re thinking of road-tripping your summer getaway, think RVs. Recreational vehicles and their close cousin, campervans, are growing increasingly popular as more families hit the road for a true American adventure that’s easier on the wallet and heavy on the fun. When purchasing an RV, you can go all out with a fully loaded luxury vehicle, or go the less costly route by opting for a campervan, also called a Class B motorhome. 

If you’re still not convinced, here are seven reasons to buy an RV or a campervan

Turning 18 is a significant milestone in many people's lives. While teenagers may have felt grown-up long before the “Big One-Eight,” now they are legally recognized as adults. Adulthood may bring a mixed bag of feelings of freedom and trepidation. Whether you are still at home or setting out on your own, you'll need to prepare for the changes that come with being 18. In this blog we share a quick guide to starting out at 18.

While many people may think they have some tricks up their sleeves to obtain the best deal on their next new vehicle, typically, it’s the car salesman that seems to always come out ahead. However, if you approach your new car shopping with a plan, you might be able to grab yourself a great deal, even when you’re trying to trade in your existing vehicle. Here you’ll learn some tips on how to get the most money for your trade-in.

When it comes to buying a new car, everyone is looking to score a great deal. One of the most common measures of this is the interest rate you pay on your vehicle loan. After all, the lower the rate, the better, right? While that may be true, the actual interest rate you receive may vary significantly from those that are advertised.

Buying a car is an exciting time. There are so many possibilities. While your heart may be into the shiny little sports car on the lot, your budget may have something like a nice modest sedan or SUV in mind. This guide will help you narrow your focus so you really can score a better deal next time you buy a car.

Purchasing a vehicle is a significant financial decision. Right now, we are in what is known as a low-rate environment, which means we are paying less interest on the auto loans that we take out. However, interest isn’t the only thing that affects our monthly car payment. The loan term, or the amount of time we pay on our auto loans, also affects our payments, and can significantly impact what we pay overall.
Here we'll review a couple of examples of the way loan terms can impact how much you'll pay each month, as well as the overall cost of your vehicle.