Vehicle Loans

Auto Loans and RV Loans
We provide financing for new and used vehicles, boats, campers, ATVs, and snowmobiles at some of the best interest rates and terms.
    • 100% financing available.
    • No Prepayment penalties or application fee.
    • Simple application process.
    • Fast turnaround - Same day approval in most cases.
    • Payments can be made through direct deposit, auto transfers, TEX or e-TEX,
      by mail or in person.*
    • Make weekly or biweekly payments and pay your loan off quicker and save interest
      (see example below).
    • Financing with CoVantage Credit Union is available at many new car dealers, or by using an
      Auto Draft before going to the dealer lot. (See below.)
    • Credit Disability and Life Insurance are available on the loan
    • Guaranteed Auto Protection (GAP) can be purchased for your Vehicle

Draft Pre-approved Auto Loan
Auto Draft is a pre-approved auto loan that gives you the bargaining power of cash and ensures you can negotiate the best price on the vehicle you’ve selected. Once you’re approved, and after you’ve negotiated the best price on your car, just sign over your Auto Draft. It’s like writing out one of your own checks!

Additional benefits:

• 1% Cash Rebate on the amount of your Auto Draft Loan. (for example: use an Auto Draft for $20,000, and you'll get $200!)*
• Use it at any licensed car dealer.
• Get approved today...use the check when you’re ready to make a vehicle purchase. 
• There’s no need to come to the credit union to sign additional papers.
• Your rate will be CVCU's current auto loan rate at the time you make your vehicle purchase.
• Interest accrues after you’ve signed the check over to the dealer.
• Auto Draft minimum is $5000.

*The cash rebate check will be sent to the borrower after the loan has been active for 90 days. Auto Draft requires borrowers to meet CVCUs usual underwriting standards. Minimum loan is $5,000. Rebate offer available until further notice.

First Time Car Buyers Program

• Finance a new or used vehicle up to 100% of its value.*
• If you have no credit score due to lack of previous credit...no problem! We'll treat you fairly and you could even get our best rates.**

*The actual amount approved will depend on whether income is sufficient to cover the payment plus normal expenses.
**Individuals who have not yet established a credit score, due to not previously using credit, will be given the benefit of using our Tier 1 rates. Offer available to those who have never financed a vehicle before and have a minimum of 6 months with current employer. Those with derogatory credit may pay higher rates, or may not be eligible for financing. All first time car buyers are required to have a co-signer on their loan. Only eligible borrowers who meet CVCU membership and credit requirements may qualify.

Refinancing Your Current Vehicle Loan
Already have a loan? We may still be able to help you. If our rate is lower than what you’re currently paying, you may be paying too much. Call our loan department to see how we can help.

The Truth about 0% Financing
Learn how a Credit Union auto loan may be a better than the 0% financing offered by car manufacturers. There's also a special calculator to compare monthly payments with a dealer financing plan to the payments you'd make by taking the rebate and financing with CVCU. The results may surprise you! Click here for more info

Calculation examples are estimates based on 5.75% for 60 months.

Try your own example by clicking here!