Auto Loans

In the market for a new or used vehicle? Or are you looking to lower your monthly payment on an existing auto loan? We've got just what you're looking for!

  • 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
  • Easy loan refinance process

Auto Loan Payment Calculator

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Dealership Partners

Get great MCCU rates and financing right at the dealership! When you visit any of our participating partners, tell them you're an MCCU member and enjoy the ease of a one-stop auto purchase.

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FAQ

What determines the 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 MCCU is listed as the lienholder. 

How can I pay on my loan at Monroe Community Credit Union?

We like to make it as convenient as possible for our members to make their loan payments! You can pay through our online banking platform, our mobile app, over the phone, or in-person at any of our locations. You can also make your payment with funds from another financial institution by clicking here--please note, depending on how you choose to utilize this option, a nominal fee may be assessed.

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 MCCU 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 insurance 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!

What do I do if I've received a notice from MCCU regarding my car insurance?

In order to serve our membership more efficiently, MCCU partners with State National to track our insured collateral. If you have a secured loan with MCCU, 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.

Auto Loans
Effective Date: Monday October 7, 2024
NameRates as low asTerms up to
Community Advantage (2023 and newer) 5.99% APR* 72 Months
New Auto (2023 and newer) 6.24% APR* 84 Months
Used Auto (2019 - 2022) 6.74% APR* 72 Months
Oldie but Goodie (2018 and older) 7.74% APR* 60 Months
*APR = Annual Percentage Rate. Rates listed above are estimates, and may vary by term selected.

Drive into Savings

Accelerate your savings with MCCU!

Refinance your auto loan with us and score $200* after closing.

DRIVE LOCAL, SAVE BIG!

APPLY NOW

or stop by any MCCU branch to apply!

*APR = Annual Percentage Rate. Offer valid for refinanced auto, motorcycle, and recreational loans submitted from July 8, 2024, to October 31, 2024. Includes lease buybacks. Existing Monroe Community Credit Union (MCCU) loans do not qualify. Eligible with MCCU Heroes Program. Minimum loan amount is $15,000. $200 awarded for each qualified refinanced loan and paid into borrower's share account within 10 days after closing. Account must be in good standing at payout. Example: $15,000 loan for 72 months at 6.49% APR = $252.11/month. Actual rate may vary based on credit history and underwriting. No early repayment penalty. All programs, rates, terms, and conditions subject to change without notice. MCCU is an equal opportunity lender, federally insured by the NCUA.

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