Vehicle Loans

New and Used Vehicles

“Local loans that fit your life and your budget."

Whether you’re purchasing your first car in high school, or an SUV for family adventures, or refinancing from another bank to lower your payment – East River Federal Credit Union has the right auto loan for you.

Competitive rates, flexible terms and same-day closings are just a few of the benefits we offer to make your auto purchase or refinance an easy and positive experience.

Plus, decisions are made right here, not off in some corporate office in a big city. We take more into account than just your credit score, we get to know you and understand your goals. And servicing on your loan is always done right here at our branch.

You can also get pre-approved! You’ll be able to shop with confidence when you apply for an East River FCU auto loan before you begin your search for the perfect car. 

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Minimum loan term 1 month, maximum 84 months. Maximum annual percentage rate: 15.75%. A member's individual rate will be determined by the collateral offered, term of the loan and member's credit history. Rates are subject to change. Consumer loan processing is $75. No pre-payment penalties.

Need a little guidance before purchasing your vehicle?

Purchasing a car can be complicated and sometimes a little confusing. Is it better to buy new or used? Should you lease or buy? What other expenses do you need to consider? Use this financial course will help you navigate the process of purchasing a car.

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We also have other great auto services. Take a look:

Guaranteed Asset Protection (GAP)
In the event of total loss of the vehicle, your insurance coverage may only pay the fair market value of the car (minus the deductible) and may not be sufficient to cover the balance of your auto loan. GAP covers the difference between the auto loan balance and the insurance settlement.

Auto Deductible Reimbursement (ADR)
Included with your purchase of GAP protection (autos and trucks only).
This coverage helps cover out-of-pocket expenses, such as, your insurance deductible, when you have an accident or mishap with your vehicle. It pays up to $500 per loss (limit of two losses per year for 3 years) when a claim is filed and paid with primary insurance carrier.

Not only does it provide this benefit on the vehicle for which the GAP was purchased, but also any other insured and registered vehicle in the member's name, within the same household. This can be a significant added-value benefit to those of you with more than one vehicle in the household!

Mechanical Breakdown Protection (MBP)
This coverage helps you enjoy your new purchase and maintain "Peace of Mind" because even the most reliable vehicle can develop a mechanical problem. No matter where you travel in the United States you are protected against major mechanical expenses, and there is no deductible on covered parts or labor.

As a credit union member, this valuable coverage can be obtained with or without an existing loan.

Credit Life and Disability Insurance
This insurance is designed to pay your auto loan in the event you die or become disabled and can no longer work.