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Vehicle Loans

Auto Power Program - For New and Used Vehicles
If you want the flexibility to purchase a new or used vehicle at your convenience without the hassle of dealer financing, our Auto Power program allows you to shop at your leisure and make a deal on the spot. Auto Power provides you with a pre-approved check, up to a specific dollar amount, for the purchase of a vehicle from a licensed auto dealer. With an Auto Power check in hand, you can make the deal and drive away in your vehicle without ever going to a Credit Union branch!

Apply for a car loan online through Press Pass, by calling Member Services at (888) 732-8562 or by visiting your local branch.1

Note: Member Services offers Lending Services from 8:00 am – 9:00 pm (Eastern).

New Vehicle Loans
We offer fixed-rate financing for new vehicles with terms up to 72 months.2 We can finance up to 100% of the Manufacturer’s Suggested Retail Price (MSRP), plus an additional 10% to cover other purchase-related expenses such as tax, tags, extended warranties, etc. Vehicle financed must be prior, current or upcoming year model with 10,000 miles or less.

Apply for a New Vehicle Loan
36 Months
% APR3, 4
60 Months
% APR3, 5
72 Months
% APR3, 6

Used Vehicle Loans
We offer fixed-rate financing for used vehicles with terms up to 60 months.2 We can finance up to 110%7 of the vehicle NADA retail value. Cash-out refinances are limited to 100% of the vehicle NADA retail value. Determine the estimated value of the vehicle in the Auto Center section of Press Pass.

Apply for a Used Vehicle Loan
  • 60-month financing8 available for vehicles that meet both of the following conditions:
    • Model years between 0 and 5 years
    • Mileage does not exceed 100,000 miles
  • 48-month financing8 available for vehicles that meet both of the following conditions:
    • Model year does not exceed 10 years
    • Mileage does not exceed 150,000 miles
  • $30,000 maximum loan amount
60 Months
% APR3, 9

GAP Coverage
If your vehicle is subject to a total loss claim,10 the insurance settlement may not cover the outstanding loan balance. The insurance settlement is based on the actual cash value of your vehicle, not your outstanding loan balance. If you owe more on your auto loan than your primary insurance settlement pays, the difference creates a “gap” that you are responsible to cover out of pocket.

GAP (Guaranteed Asset Protection) coverage is an optional debt cancellation product that covers the difference between the insurance settlement amount and your outstanding loan balance.11 The Credit Union offers GAP coverage on new loan originations12 for a flat fee of $675.00.

  • 90-day “free look” period13
  • Eligible for new and used cars, light trucks, vans and SUVs14
  • Maximum market value of the vehicle is $40,000 for a new vehicle and $30,000 for a used vehicle15
  • Maximum claim benefit of $40,000

Auto Insurance
Collision and comprehensive insurance coverage with a maximum $1,000 deductible is required for the duration of the loan. We offer auto insurance through AAA Carolinas16 and can provide you with a quote.

Learn more about insurance coverage options »

1 Members must be 18 years of age or older to be eligible for lending services. Lending is limited to residents in North Carolina, South Carolina, Georgia, Tennessee and Virginia.
2 Vehicle title held as collateral until the loan is repaid. Commercial vehicles or vehicles with branded (flooded, salvaged or reconstructed) titles or motorcycles, boats and RVs are not acceptable collateral.
3 APR = Annual Percentage Rate. APR is your cost over the loan term expressed as a rate.
4 Payment example: 36 monthly payments of $753 for $25,000 borrowed at 5.25%.
5 Payment example: 60 monthly payments of $481 for $25,000 borrowed at 5.75%.
6 Payment example: 72 monthly payments of $418 for $25,000 borrowed at 6.25%.
7 Cash out is not allowed on vehicle purchase transactions.
8 Financing is not allowed on vehicles older than 10 years or those with mileage in excess of 150,000 at the time of origination.
9 Payment example: 60 monthly payments of $294 for $15,000 borrowed at 6.50%.
10 As determined by your auto insurance provider due to an at-fault or not-at-fault accident. Theft or flood.
11 GAP may not protect the entire deficiency between the insurance payment or actual cash value and your outstanding loan balance. You are responsible for any remaining balance due on the loan after the request for benefits is processed. A copy of the GAP Agreement can be provided upon request for additional information.
12 GAP coverage cannot be added to an existing auto loan. To add GAP, the loan must be refinanced and coverage must be selected during the new origination.
13 During the first 90 days of the loan, coverage may be cancelled for a full refund. The refund is applied to the outstanding loan balance and will not affect scheduled payments.
14 Gross vehicle weight must be 14,000 pounds or less. GAP coverage is not available for salvaged vehicles, flood vehicles, vehicles with a reconstructed title, classic vehicles (vehicles that are 20 years old or older) or vehicles used for ride-sharing.
15 Based on MSRP or NADA average retail value.
16 SECU Insurance Services has partnered with AAA Insurance to provide auto and other personal lines insurance. SECU Insurance representatives are licensed to sell insurance in North Carolina only. You can contact an SECU Insurance representative toll free at 1-888-732-8562 or locally in Raleigh at 919-857-2150 Monday - Friday from 8:00 am to 5:30 pm.