America First Credit Union Repos are some of the best available.
Although they exercise prudence in lending, a byproduct of a large lending portfolio is a small percentage of non-performing loans. The vast amount of America First Credit Union repos are a result of these defaulted loans. Buyers looking to purchase credit union owned assets at AFCU will find a wide variety of several cars, ATVs, RVs, boats, and other real property assets being turned back to the credit union.
America First has found that by selling these repossessions back to the public results in both covering losses and occasionally generating new revenue if the buyer chooses to finance the purchase with America First CU again.
America First has a portal on it’s website which offers consumer a chance to view pictures of the credit union repos for sale. Every Wednesday at 9 am MST they release new listings for the week. They have live customer service and other options to welcome buyers into their bidding market.
Who is AFCU?
According to Wikipedia, “America First Credit Union (AFCU) is a federally chartered credit union headquartered in Riverdale, Utah. AFCU is the 7th largest credit union in the United States in terms of total membership and 11th largest credit union in assets in the U.S. As of October 2011, America First has 101 branch locations, more than 550,000 members, and has over USD 5.3 billion in assets”. Considering the size of America First Credit Union they have a large footprint throughout Utah and Nevada to provide vehicle and real estate lending options for consumers.
Where to find America First Credit Union Repos:
For Utah and Nevada car buyers who want to search their credit union repo’s they are listed for sale on the America First Union repo list.
Here are some tips to help you buy credit union-owned assets successfully. Buying from a credit union can be both simple and rewarding. Not only do credit unions specialize in financing, but they also make the entire process smoother. Below, you’ll find a step-by-step guide on how to make the most of this opportunity.
Why Buy From a Credit Union?
First and foremost, credit unions are focused on auto and home financing, not on selling cars. This makes them unique compared to dealerships. Since they handle all the necessary paperwork, the process becomes less stressful for you. Additionally, you can easily browse their repo cars, boats, and even real estate online. For example, many credit unions, such as America First Credit Union, offer incredible deals on these repossessed items. So, if you’re looking for a good deal, credit unions should be one of your first stops.
Steps to Buy Repossessed Vehicles or Real Estate
1. Search for Assets Online
To begin, start by browsing the credit union’s website for updated listings. Whether you’re looking for cars, boats, or real estate, you’ll find detailed information right at your fingertips.
2. Contact the Credit Union Quickly
As soon as you find a vehicle or property you’re interested in, contact the credit union immediately. Repossessed items often sell fast, so it’s crucial not to delay.
3. Research the Vehicle or Property Thoroughly
Next, take the time to research the item thoroughly. Whether it’s a car, boat, or piece of real estate, you want to make sure you understand its history and current condition before making an offer. This research will help you avoid any surprises down the road.
4. Review the Disclaimer Carefully
In addition, always read the disclaimer provided by the credit union. This disclaimer typically releases them from responsibility for any issues that might arise after the sale. Therefore, it’s important to understand what you’re agreeing to before finalizing the purchase.
5. Seek Expert Help
Furthermore, if you’re unsure about the process, don’t hesitate to reach out to local auto or real estate experts. These professionals can provide valuable guidance, ensuring you make a smart investment.
What to Expect from America First Credit Union
When buying from America First Credit Union, you can expect a wide selection of repossessed vehicles and foreclosed real estate. Their inventory ranges from cars to homes, so there’s plenty of variety to choose from. By following these simple tips and familiarizing yourself with the process, you can secure a great deal on a credit union-owned asset.