Helpful Financial Information
Finding the right repayment plan to successfully pay off your student loan(s) is a big decision. With all the technical language used, even understanding the terms of your loan can lead to confusion. GCU's Financial Literacy Program is here to offer you support from the time you graduate through the life of the loan.
TG™ Learning Center
GCU has partnered with TGTM Texas Guaranteed Student Loan Corporation where you can create an account and complete financial literacy modules including:
Setting Goals, Credit Basics and Monitoring Spending.
Cick here to learn more
Financial Tip of the Month
Buy a Car and Save
Use the following steps and learn how to locate, price and negotiate to buy the new car you want. Using this information could save you thousands of dollars on a new car! It also puts you in charge of the deal-making process — and that feeling of empowerment is a good one.
- Step 1: Use Cash or Get Approved for a Car Loan: If you have the cash, great! Use cash. If cash isn't an option, get approved before you even walk into the dealership. This will be the bargaining chip to get you the best interest rate. Getting approved for a loan from a bank, credit union or online lender will show you what interest rate you qualify for. In the end, you can still accept dealership financing if needed.
- Step 2: Price Your Car and Your Trade-in: Everyone knows that the price of a new car is usually negotiable but how much of a discount can you expect? Use tools such as Kelley Blue Book, NADA or Edmunds.com to find out.
- Step 3: Locate Your New Car: Keep in mind that the more flexible you can be about options and color, the wider the range of the vehicles you'll find for sale. Being flexible will also give you more leverage to negotiate a better price since you are not emotionally connected to one specific car.
- Step 4: Use Dealership Internet Departments: Shop through a dealership's Internet department and it will save you time and money. You can easily communicate with the Internet manager by phone or email. Before you head to the dealership, review all your notes and bring them with you.
- Step 5: Try Negotiating a Lower Price: Request Internet price quotes from at least three local dealers. Take the lowest price, call the other dealerships and say, "If you beat this price, I'll buy it from you." The dealer almost certainly will give you a better price.
- Step 6: Review New Car Fees and Check Dealer Financing: Besides the cost of the car, you have to pay sales tax, registry fees and a documentation, or "doc" fee. Now ask the Internet sales manager to supply a breakdown of all the fees, or a "worksheet," which lists the purchase price, the vehicle's invoice and all related fees. Review the figures carefully before signing the sales contract.
- Step 7: Sign the Paperwork: Make sure there are no dents or scratches on the body or the wheels. Check that all the equipment is included, such as floor mats and the owner's manual. If anything is missing or needs repair, ask for a "Due Bill" that puts this in writing. Review the contract carefully and make sure the numbers match the worksheet and that there are no additional charges or fees.
- Step 8: Take Delivery of Your New Car: Let the salesperson give you a tour of your new car. This could include showing you how to connect your smartphone to the car's Bluetooth system and learning how to use other important features and safety devices. If you don't have time for a complete demonstration when you sign the contract, ask to visit the dealership a week later for this important step.
As you drive away, there is only one more thing to do: Enjoy your new car!