In the market for a new or used vehicle or are you looking to lower your monthly payment on an existing auto loan?
- Local servicing
- Terms up to 84 months
- Protection plans available to cover you and your vehicle in the event of an accident or total loss
- No early repayment penalty
- First Time Auto Buyer program
- Convenient pre-approval process
- Discounted Carfax reports available for all members
- Loan options available for older vehicles
- Rate benefits available with automatic payments
- Check out our Community Advantage Rates!
Get great MCCCU rates and financing right at the dealership! When you visit any of our participating partners, tell them you're an MCCCU member and enjoy the ease of a one-stop auto purchase.
What determines what auto loan rate I receive?
Your loan rate is determined by several factors, including your credit score and the year of the vehicle you're looking to purchase or refinance.
What terms do you offer on your auto loans?
Term is determined by collateral, but we offer terms up to 84 months on our auto loans.
Does the vehicle I'm looking to finance need to be insured?
Yes, all auto loans must carry full coverage insurance while MCCCU is listed as the lienholder.
Should I buy or lease a car?
To make this decision, you should calculate your monthly payments and your total net cost for both options. When you compare these amounts, you can determine which option is right for you. Visit our Financial Resource Center to access our Buy or Lease calculator.
What do I need to purchase a vehicle from a dealership?
To purchase a vehicle from a dealership, you will need a purchase agreement from the dealership, proof of insurance, and (in some instances) proof of income. To help make this process easier for our membership, we've partnered with many local dealerships who can process your MCCCU financing and paperwork without you needing to make a separate trip to the credit union. Just let them know you'd like to finance with us and they will take care of the rest!
What do I need to purchase a vehicle from a private seller?
To purchase a vehicle from a private seller you will need the seller's title, proof of insurance, and (in some instances) proof of income. Keep in mind, you will need to pay taxes and registration on the vehicle. If you are unsure about anything pertaining to this process, ask your Member Relationship Specialist about what your options are!
What auto loan protection products do you offer?
We offer Guaranteed Auto Protection (GAP) Insurance, which offers total vehicle loss protection and more! Typically, the credit union offers this insurace to our members at a much lower rate than what you will be able to get at a dealership. Included in our GAP policy is Auto Deductible Reimbursement (ADR), which will pay up to $500 for an insurance deductible over the life of the loan. We also offer Debt Protection Insurance, which is designed to help you make your payments, or pay off a loan, in the event of involuntary unemployment,disability, or death. If you'd like to learn more about these products, give one of our loan officers a call!
Do you offer mechanical repair coverage?
Yes! MCCCU is glad to be able to offer our members coverage through ForeverCar. Through this partnership you can not only can you save money on unexpected covered repairs, but also receive benefits like rental car reimbursement, 24-hour roadside assistance, and travel expense reimbursement.
What do I do if I've received a notice from MCCCU regarding my car insurance?
In order to serve our membership more efficiently, MCCCU partners with State National to track our insured collateral. If you have a secured loan with MCCCU, you may receive a notice in the mail requesting additional information including, but not limited to, proof of insurance, or proof of lein. If you have any questions please call 1-800-233-8763 or visit www.myloaninsurance.com today.
|Effective Date: Tuesday April 7, 2020|
|Name||Rates as low as||Terms up to|
|Community Advantage||2.99% APR*||60 Months|
|Community Advantage||3.24% APR*||72 Months|
|New Auto||3.75% APR*||72 Months|
|New Auto||4.25% APR*||84 Months|
|Used Auto (2014 and newer)||4.25% APR*||72 Months|
|Used Auto (2014 and newer)||4.75% APR*||84 Months|
|First Time Auto Buyer||8.99% APR*||60 Months|
|Oldie but Goodie (2013 and older)||5.75% APR*||Determined by collateral|
|*APR = Annual Percentage Rate|