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Auto Loans Options

Preapproval. Purchase. Refinance. 

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Your Dream Car Awaits

We have you covered with flexible options.

Fast. Seamless. Hassle-free. Purchasing made easy!

  • Terms up to 84 months
  • Financing available up to 125% for qualified borrowers
  • Get pre-approved with a quick and easy application process
  • Debt protection, Mechanical Repair Coverage, and GAP coverage available

Finance Your Next New or Used Auto

Low and competitive rates as low as 3.74% APR1 for new vehicles

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If you already have a great interest rate, our exceptional auto loan recapture program may save you even more!

Refinance your current auto loan from another lender, and you will receive a $1003 bonus. Plus, we will either lower your existing rate by 1% APR4, or give you our standard rate whichever is lower. 

  • Rates as low as 3.24% APR4
  • No payment for 100 days5
  • Flexible terms
  • No early payment penalty

Use our auto refinance savings calculator to estimate your savings now. 

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Guaranteed Asset Protection (GAP) Coverage6

GAP also known is Guaranteed Asset Protection is a voluntary, non-insurance product offered by the credit union that may help cover costs that typical car insurance can’t. It is an optional plan designed to waive the remaining loan balance not covered by an insurance settlement in the event of a total loss or unrecovered theft. GAP Plus also provides you with a $1,000 credit towards the financing of a replacement vehicle financed with the credit union.

You may want to consider GAP if

  • Your loan had a low down payment
  • You drive frequently (more than 15,000 miles a year)
  • You purchase an auto model that depreciates rapidly

How Much Does GAP Cost?

For new and eligible used vehicles, we charge a flat enrollment fee of $499.  We allow you to  pay for it in a lump sum or finance it into your loan (would increase the overall cost of the loan).

How does GAP work?

In some cases, the actual cash value of your vehicle (determined by your insurance company) could be less than your actual loan balance. In the unlikely event of a total loss or theft, GAP waives the difference between your outstanding loan balance, and the actual cash value up to the maximum LTV%. Additionally, GAP may reduce your next auto loan financed at the credit union by up to $1,000.

  • Remaining Loan Balance $20,000
  • Insurance Settlement $17,000
  • Amount GAP covers $3,000

GAP Brochure

Gap is subject to limitations and exclusions, including, but not limited to, loan-to-value (LTV) maximum, delinquent payments, late charges, refundable service warranty contracts, and other insurance-related charges. May not be available in all states. Please contact us for more information.

Whether you depend on your vehicle for work or getting your family to school and activities, you need transportation that’s safe and reliable. As your vehicle gets older, it becomes more expensive to keep it in good working order. Not making small repairs can lead to even more expensive repairs and ignoring other repairs can be dangerous.

With different coverage levels and deductibles to choose, there’s a plan to fit your family’s budget. Drive with the peace of mind knowing that you have protection against the increasingly high cost of parts and labor.

Benefits of MRC:

  • Rental reimbursement: up to $35 per day (5-day maximum, 10-day maximum for parts delay); available on the first day of a covered repair
  • 24-hour emergency roadside assistance: up to $100 per occurrence; includes towing, battery jumpstart, fluid delivery, flat tire assistance and lock-out service
  • Good at any authorized repair facility: in the continental United States of America, Alaska, Hawaii and Canada
  • No out-of-pocket expense (except for any deductible or repair not covered by the policy): the administrator pays the repair facility directly for the covered repair
  • Transferable: if you sell your vehicle privately, the coverage can be transferred (for an administrative fee), may add resale value and appeal
  • Cancelable: receive a full refund for an unused agreement within the first 60 days, or a prorated refund thereafter less an administrative fee

MRC Brochure

1APR = Annual Percentage Rate. The listed APR assumes new vehicle with 42-month term, exceptional credit, and rate reduction of .50% APR with 20% down payment. The advertised rates can vary based on creditworthiness, age of vehicle, loan term and our internal lending criteria which means your rate may be higher. Not all borrowers will qualify. Loans are subject to credit approval, and rates are subject to change. Your actual rate will be determined at time of loan application and may be higher than the lowest advertised rates. Auto refinances are excluded from down payment rate reduction discount.

Payment example: New auto loan of $25,000 for 42 months at 3.74% APR will have a monthly payment of $637.03.

2APR = Annual Percentage Rate. The listed APR assumes new vehicle with 42-month term, exceptional credit. The advertised rates can vary based on creditworthiness, age of vehicle, loan term and our internal lending criteria which means your rate may be higher. Not all borrowers will qualify. Loans are subject to credit approval, and rates are subject to change. Auto refinances are excluded from down payment rate reduction discount. Your actual rate will be determined at time of loan application and may be higher than the lowest advertised rates.  Other restrictions apply.

Payment example: Auto loan of $25,000 for 42 months at 4.24% APR will have a monthly payment of $642.75.

3Existing Credit Union of Richmond loans are not eligible for this offer. Auto refinance loan must be at least $5,000. The $100 will be deposited to the account once loan is funded.

4APR = Annual Percentage Rate. Not all borrowers will qualify. This offer is only available for existing auto loans financed at another lender. To receive a rate reduction up to 1% APR, we will match the term of your current auto loan, and discount the current rate up to 1% APR. The total rate reduction may not result in a rate lower than the best possible floor rate. Terms and conditions apply. Your actual rate will be determined at time of loan application and may be higher than the lowest advertised rates.

Payment example: Used auto loan of $25,000 for 42 months at 3.24% APR will have a monthly payment of $631.34.

5Loans will still accrue interest with no payments for 100 days.

6Gap is subject to limitations and exclusions, including, but not limited to, loan-to-value (LTV) maximum, delinquent payments, late charges, refundable service warranty contracts, and other insurance-related charges. May not be available in all states. Please contact us for more information.