Titled Vehicles
Conservation Employees' Credit Union Loan Officers are here to help you with all your vehicle and recreational loan needs! It is possible to get preapproval before you shop! We have quick turnaround time so you can drive off in your new automobile as soon as possible.
Vehicles will be accepted as collateral on loans. Loan amounts will be based on 100% of the retail price of both new and used vehicles including insurance and taxes. Retail price will be determined by the vehicle value books (N.A.D.A.).
Titled Vehicles also include recreational - Boat, Motor, trailer, motorcycle, ATV,and RVs.
The credit union will be listed as lien holder on the title and all titles are held at the credit union until the loan has been paid in full. A new vehicle is defined as - never having been titled or current year.
Money may be borrowed using titled vehicles as collateral for other purposes than purchase.
Vehicles less than 6 years old shall procure adequate and reliable insurance coverage with a maximum deduction of $1000.00 (qualifying amount) to protect such items of collateral. A loss payable endorsement listing the Conservation Employees' Credit Union as loss payee or lien holder is required from the insurance company.
With approved credit, we will finance the following models for up to the corresponding number of months.
New & 1-2 model years old Auto / Truck / Recreational - 60 months
New & 1-2 model years old Auto / Truck / Recreational($20,000 or more) - 72 months
Used Auto / Truck / Recreational
3 & 4 Model years - 60 months
Over 4 Model Years - 48 months
GAP – Guaranteed Auto Protection
Most people learn about GAP risk the hard way by believing that their vehicle is totaled or stolen, their primary insurance will pay off their loan balance.
If your vehicle is totaled or stolen, your primary insurance carrier will usually pay only the actual cash value (current market value) of your vehicle less your deductible. This amount could be substantially lower than your loan balance.
“GAP” Insurance is now available on autos, trucks, motorcycles and personal watercraft for a one-time cost of $175.00. This can be included in your loan, and will pay off your remaining loan balance should your automobile be stolen or damaged and is a total loss.
Extended Service Contracts
Protect Yourself from Costly Mechanical Breakdowns
When buying any vehicle, there is always a chance of having a mechanical breakdown. However, you will have peace of mind knowing that most problems can be taken care of with an extended Service Contract from Auto Exam, Inc. Never worry about expensive mechanical failure again. The credit union will now be offering comprehensive benefits including:
Nationwide Coverage – protected across the U.S. and in Canada via a toll free number
Towing and Rental – towing and rental reimbursement
Direct Payment – repair facility of your choice is paid directly with a corporate VISA, MasterCard or American Express payment
Emergency Road Service – Toll Free Number for emergency roadside service
Full Coverage – covered for parts and labor on authorized repairs
For more information just contact the credit union.
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