Loans
We can help you save money when purchasing a new or used vehicle.
Be careful where you place your trust. For 73 years we have been assisting our members
with excellent rates, terms and advice. You can apply online with MyCU@Home home banking or with our extended service call center!
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New & Used Vehicle Loans
There are many advantages to obtaining your financing at the credit union.
The following chart compares dealer financing with credit union financing:
| |
Dealer Financing |
Credit Union Financing |
| Loan Rates: |
Dealers earn income for placing loans with lenders. Your best interest is seldom considered. |
If you finance a dealer purchase at the credit union, you will get a lower interest rate than you can obtain at the dealership! You can also obtain an additional rate reduction by redeeming your STAR Reward points. |
| Loan Terms: |
Dealer's terms |
Your terms |
| After the loan |
You're left dealing with a new organization |
You keep your financing where you do your other business. |
| Release of Lien: |
With GMAC, there is no local office. You can only get a lien released by mail. |
Local offices. You can get a lien released in person. |
| Price and Discounts |
When you place your trust in all matters with an organization that profits from you, you are asking to pay more than you should. Discounts are usually marketing tactics. |
When you finance with the Credit Union, you take control of the sale and deal on YOUR terms. |
| STAR Rewards |
Finance elsewhere and you lose valuable STAR Reward points. |
Finance with the credit union and you will earn valuable STAR Reward Points that can be used to save on other credit union services. |
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Low Payment Loans
The low payment loan is an innovative way to finance a vehicle with a very low monthly payment. We are able to keep the payment low because we only require that
the balance be paid down to the resale value of the vehicle being financed. That is different from conventional financing where the balance must be paid down to zero by
the last installment.
We estimate the trade-in value of the vehicle at the time you apply for a loan. After the last payment you can either:
- Refinance the vehicle at the Credit Union.
- Sell the vehicle.
You can purchase GAP insurance from the Credit Union at a price that is much lower than a policy sold elsewhere.
In our current vehicle market, the balance owing on a loan may exceed the book value of the vehicle. If the vehicle is stolen or totaled, a borrower will only be reimbursed for the book
value of the vehicle by the insurance company. GAP insurance will pay off the difference between your loan balance
and vehicle valuation in the event your vehicle is totaled or stolen during the term of the loan.
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Recreational Vehicle Loans
We can finance a boat, motorcycle, motor home or travel
trailer. Be sure to check with your credit union. You will find our rates and flexible terms very competitive.
Remember... if you finance through your credit union, you not only have the convenience of maintaining your loan
where you do your other business, but you become a Sage member and qualify for discounts on other credit union services!
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Refinance Your Current Vehicle Loan
Do you know that you can refinance your current vehicle with the Credit Union?
We may be able to reduce your finance charges and save you money.
You can also refinance a vehicle to get cash for other needs.
Members are often astonished to find out that we saved them hundreds of dollars!
