Auto Loans
Auto Loans at AmeriCU
Buying a car is a major purchase, so preparation is essential. Get insights and knowledge to make the right financial decisions. Knowledge is power! Remember, it pays to get pre-qualified at AmeriCU before you shop for a vehicle. You’ll already know what your rate will be so you’ll be in the driver’s seat when you’re shopping because you’ll know how much you can afford and what you’re willing to pay. Be smart and be prepared!
Refinancing a Vehicle?
Do you have a high interest vehicle loan you’d like to refinance? AmeriCU can help with great rates, low fees, and a friendly local staff. Find an AmeriCU location.
New + Used Auto Loans
Whether you’re buying a brand new or new-to-you vehicle, AmeriCU has the right loan for you!
New Auto Loans
Model years for last year, current year, and next year’s vehicles.
- Minimum loan amount $5,000 for terms up to 75 months
- Minimum loan amount $25,000 for terms 76-84 months
- Loan terms based on credit score, amount financed and model year
- Credit Life & Disability insurance available (subject to eligibility)
Used Auto Loans
Model years for vehicles 2 to 5 years old, previously titled and registered.
- Minimum loan amount $5,000 for terms up to 75 months
- Loan terms based on credit score, amount financed and model year
- Credit Life & Disability insurance available (subject to eligibility)
Older Used Auto Loans
Model years for vehicles 6 to 10 years old, previously titled and registered.
- Minimum loan amount $5,000 for terms up to 66 months
- Loan terms based on credit score, amount financed and model year
- Credit Life & Disability insurance available (subject to eligibility)
Groovecar
Auto Loan Resource Center
Step 1: Get Prepared
Get Pre-Approved
Check your credit score to be sure that you know where you stand, and that there are no surprises (like accounts in collection, charged-off accounts, judgments, or late payments) that could be affecting your score.
Know Your Credit Score
You credit score will determine the interest rate you pay – so having this information will give you more power in negotiation. Visit ANNUALCreditReport.com for more information about your credit score.
If your credit score isn’t quite where you’d like it to be, AmeriCU can help you build and improve your credit! Take one of our quick online courses to learn more about your credit score, or visit one of our Financial Centers and talk to a Member Relationship Advisor today! Find a financial center.
What Can You Afford?
Keep the big picture in sight. Be honest about your needs and your financial situation, too. Carefully assessing your needs and wants is a great first step toward finding the right car for you.
Set a reasonable budget – there’s more than just the monthly payment to consider. Be sure to factor the costs of insurance, gas, maintenance and repairs that may arise. Buy a car that you can afford! Get an insurance quote from AmeriCU Services, LLC.
Step 2: Shopping for a Car
Shop Around
Shop around before you buy a car to avoid impulse buying. Do your research. Get the data – price quotes, NADA, Carfax reports and review consumer reports for valuable information.
Test Drive
Test drive the car! Make sure it drives well, feels good, and doesn’t have any surprises! Look, listen, feel. Walk around the car, check under the hood, try all the doors and windows, open the trunk – be sure to inspect the whole car!
Step 3: Financing
What does the car cost?
Consider your finance options wisely. If you’ve been pre-approved, you’re already in great shape! Think about whether you can you make a down payment to lower your payment. Consider the term of loan and be sure to buy based on the real purchase price – not on monthly payments! Dealers may try to sell you on a monthly payments, but its important to know how much you’re actually paying at the end of your financing, including taxes, car preparation and dealer costs.
Warranties
Research Extended warranties to see if it fits your needs and your budget. Keep in mind; depending on year of the vehicle, there may be a valid manufacturer’s warranty.
Step 4: Close the Deal
You’ve done your research, you know what you want and have your financing in place. You’re in control. Before you sign, be sure you read and verify all documents, understand the terms of any financing, loan protection plans and warranty agreement information.
Most importantly – enjoy your new vehicle!
Shop Around
Shop around before you buy a car to avoid impulse buying. Do your research. Get the data – price quotes, NADA, Carfax reports and review consumer reports for valuable information.
Test Drive
Test drive the car! Make sure it drives well, feels good, and doesn’t have any surprises! Look, listen, feel. Walk around the car, check under the hood, try all the doors and windows, open the trunk – be sure to inspect the whole car!
Are you considering buying a car, but unsure how to pay for it? According to the Federal Trade Commission, the average price of a new car is over $31,000. Auto loans are a popular way to distribute that cost over time, but it’s important to understand how interest and loan terms affect your monthly payments. Take our short Auto Loans course to learn the facts about:
- Financing options
- Fixed and variable interest rates
- Monthly payment calculations
More from AmeriCU
Auto Insurance
AmeriCU Services, LLC provides coverage on not only autos, but trucks, SUVs, snowmobiles, boats, RVs and ATVs. Learn more about vehicle insurance.
Financial Wellness
You face important financial decisions every day. Give yourself the tools you need to be prepared! Learn more about financial wellness.
Questions? Contact Us!
Our Member Service Center is available at 800.388.2000 – 24 hours a day, 7 days a week – to help you with whatever you need. Or visit our Contact page.