Trying to find a used car requires a lot of time and patience. The Credit Union can make
getting a loan quick and easy. Check out these three steps below and see how easy buying
a used car or refinancing is with SECU!
Step #1 CARFAX® Vehicle History Reports™
The credit union has partnered with CARFAX® to provide vehicle history reports to our members.
For a $10.00 fee, the Credit Union can provide you with a detailed history report on a vehicle
you are considering purchasing or on a vehicle that you are attempting to sell.
For more information or to obtain a CARFAX® Vehicle Report, please contact your local branch or
the Call Center at 1-888-732-8562.
Step #2 Basic Loan Information
The Credit Union offers fixed rate financing for used vehicles. We will finance up to 110%
of the value of the vehicle based on the NADA retail value. To determine the value of the
vehicle, please use the link for Used Car Values located in the Auto Center in Member Access.
Applying for a used vehicle loan is quick and easy! Simply view our current terms, then log
onto Member Access and apply today.
Step #3 Insurance and Gap Coverage
Collision and comprehensive insurance protection is required on used vehicles with a maximum
deductible of $500 for the duration of the loan. The Credit Union offers very competitive
automobile insurance rates
through a partnership with AAA Insurance.
The Credit Union also offers Guaranteed Asset Protection (GAP) on used vehicle loans. GAP
Coverage is a debt cancellation product that covers the difference between the insurance
settlement amount and the outstanding loan balance if your vehicle is involved in a total
loss claim.
There is a one time fee of $135 and the following specifications
are required to receive GAP coverage.
