Banking | Misty McCormick

Tuesday, June 12, 2018

Q. I hear a lot about your Teen Auto Loans. How does that work?

A. Often parents think that "giving" a car to their teenager is a wonderful gift, but at Heritage South we take giving a car to a teen a step further. If you have saved money for the car, we urge you to still consider obtaining a Teen Auto Loan and in the process help your teenager develop good credit history that will be important long after this first car is sold or traded. You will co-sign the loan with him, but he will also be responsible for making payments in a timely manner and build a credit score. With a good credit score, he should have an easier time in acquiring loans in the future. When qualified applicants make this loan with us, we discuss the responsibilities with your teen. We'll monitor their payments and be with them throughout the term of the loan to assist with any questions or concerns. Come by our office to see if you can qualify for this special loan program. Our Teen Auto Loan Program is just another reason our members say, "We help when others won't".