Borrow from us...Vehicle

Learn more about our borrowing for a vehicle options by clicking on one of the links below.

New and Used Auto Loans/Motorcycle Loans
Refinance your Auto Loan
Invest in America
Payment Advantage© Lease-Like Loans
AutoSmart Vehicle Research
GAP Insurance
Mechanical Repair Coverage
Rates

New and Used Auto Loans/Motorcycle Loans

If you're shopping for a new or used car, you're probably looking for the best deal - a competitive price along with all of the features you've decided on. You're probably looking for a similar deal on your auto loan - competitive pricing for a low monthly payment, flexible terms based on the payment you want, and a few extras thrown in. If that's the case, we can definitely help! We offer financing up to 100% of the vehicle cost including taxes, registration, extended warranties, and options. Our rates are extremely competitive, and our terms range from two - six years.

If you want to have a little extra buying power at the dealerships, we can give you a 30 day pre-approval, so you'll know exactly how much you have to spend before you head out. You can apply online for our auto loans, and we even have an auto loan calculator so you can find a payment (or a price) that fits your needs.

Check out our AutoSmart Vehicle Research website to find out new and used auto prices, options, and trade-in values.

Rates are low!  Our Auto Loan rates start at 3.50% APR*.  Check out all of our current rates!

Ready to get started?  Apply for your auto loan online.

*APR=Annual Percentage Rate.  The Annual Percentage Rate listed is our best rate.  The payment for this rate is based on a 24-month term at a payment of $43.20 per month per $1000 borrowed.  Your rate may be higher based on credit worthiness or selected term.  Please add 0.25% to the above rate if loan is not to be automatically paid through a transfer from a MMFCU account.  Offer excludes all loans already financed through MMFCU.

Refinance your Auto Loan

Looking to save some cash? Do you already have a high interest auto loan with another lender? Consider refinancing into a lower interest auto loan with us - if we can reduce the rate you're currently paying, you'll probably have lower monthly payments as a result. And couldn't we all use a little extra cash each month?

Stop by or contact us for details on refinancing your auto loan, or apply online.

Invest In America

Now you can take advantage of two great deals: a terrific discount on most new GM and Chrysler vehicles, plus a low loan rate from MMFCU.  All MMFCU members will receive great discounts and incentives on most new GM and Chrysler vehicles.  And when you finance your new vehicle with us, you'll save even more with our low auto loan rates.  Between the discounts and the low rates, you could save thousands of dollars!  As part of the nationwide Invest in America program, when you buy an American car and finance it through your credit union, you're contributing to your local economy. 

To get started, visit www.lovemycreditunion.org and learn more about GM and Chrysler's discount programs.

Payment Advantage© Lease-Like Loans

In addition to our traditional auto loans, we have a lease-like auto loan option called Payment Advantage©. With a lease-like auto loan, also called a balloon loan, you only pay for the estimated amount the vehicle depreciates or for what is "used" of the vehicle's worth during the term of the loan. This is different from a traditional auto loan in which you would pay the entire cost of the vehicle over the term of the loan.

Essentially, Payment Advantage© can be considered a long-term test drive. You own the vehicle, so you would make monthly payments just as you would for a traditional auto loan, and maintain the vehicle, pay annual license and registration fees, applicable taxes, and maintain the insurance. But at the end of the selected term, you have more options than you would with a conventional auto loan. If the vehicle is worth less money than the residual value at the end of the loan, you can just turn in the vehicle like you would for a leased vehicle. And if the vehicle is worth more, then you have the option to keep the vehicle and refinance the remaining balance, trade it in, or sell the vehicle.

Features and Benefits:

1. All fees are fully disclosed on the contract.
2. There is no down payment or security deposit required.
3. We use a simple interest calculation, which is the fairest lending calculation methodology to help keep the payoff balance lower.
4. There are no early termination penalties.
5. There is an adjustable mileage limit, which means you can choose from an annual mileage of 12k, 15k, 18k or a custom mileage limit in which you choose a mileage amount above 18k.
6. You'll have more options at maturity than you would with a traditional auto loan, such as keep the vehicle and refinance the remaining balance; sell it or trade it in at any time; or turn it in at the maturity date.
7. The vehicle is titled in your name, which means no surprise sales tax if you decide to buy the vehicle at the end of the loan term.
8. GAP Insurance is included. GAP stands for Guaranteed Automobile Payoff, which covers the difference between the settlement amount from the insurance company and the loan payoff amount if your vehicle is totaled or stolen.

Top Reasons Why Members Are Using Payment Advantage©:

1. A lower monthly payment by 20-40%
2. A new car more often
3. Less initial cash outlay
4. More car for your money (get a better car for the budgeted payment)
5. Purchase price savings (you negotiate your best deal on the vehicle)
6. Generally less maintenance costs
7. More safety features in a newer car
8. Latest technology in newer vehicles

Payment Advantage© versus a Traditional Auto Loan:

Below is a comparison between a new vehicle that is purchased with a traditional auto loan and the same exact vehicle that is financed with Payment Advantage©. To keep this scenario consistent, there is no down payment in either situation.

Vehicle: 2007 Honda CR-V, 5 Door 4WD EX
MSRP: $24,300.00
Loan Amount: $21,205.23
Residual: 46.5%
Term: 48 months
Miles: 12,000

Difference in monthly payment: $190.92

Imagine what you could do with the extra $190.92 each month - invest in an MMFCU IRA, pay off your credit card debt or help to pay for your child's educational expenses. The possibilities are endless!

Apply online today!

AutoSmart Vehicle Research

Are you in the market for a new or used vehicle? It doesn't hurt to do a little research before you make the purchase. Check out our AutoSmart Vehicle Research center - research the vehicles you are interested in, get tips on leasing versus buying, read vehicle reviews...you get the idea.

GAP Insurance

Most cars depreciate by thousands of dollars as soon as they are purchased. Unfortunately, if your vehicle is stolen, accidentally damaged beyond repair, or otherwise declared as a total loss, you are still liable to pay the difference, or the "gap," between your insurer's settlement and your loan balance. That gap will come out of your pocket for a vehicle that, for all practical purposes, no longer exists.

Guaranteed Asset Protection (GAP) is a low-cost coverage that pays the potentially high-cost difference between your insurance settlement and your loan balance on items directly related to the purchase of your vehicle. For just a few dollars a month, GAP can save you from making loan payments on a car, truck or other vehicle that's beyond repair, or stolen and not recovered. GAP Plus coverage also includes up to $1,000 toward your down payment of a replacement vehicle (where allowed by law and when financed by our credit union).

You can sign up for GAP when you apply for your vehicle loan. There's no underwriting, no red tape, no hassles. And for your convenience, the amount can be rolled into your monthly loan payment. Contact one of our Loan Officers today to find out more about GAP.

Mechanical Repair Coverage

Getting an auto loan is about more than just the right rate. It's also about having the right protection. Mechanical Repair Coverage (MRC) helps pay for covered repairs on your car when an unexpected breakdown occurs. For a few dollars a month, you can protect your vehicle and your finances from expenses that could total hundreds or even thousands of dollars.

View our detailed brochure to learn more about MRC.

Check out our loan calculator on MRC.

Contact one of our Loan Officers to find out more about how Mechanical Repair Coverage can help you.