Auto Loans
New or used, Circle Federal Credit Union offers competitive rates to help you finance your next ride.
How to Protect my Loan
Here at Circle Federal Credit Union, we understand that life happens. Let us help you protect your loan, family, and credit. Protect your investment and drive without worry with the help of GAP,Warranty, and Debt Protection.
Guaranteed Asset Protection
GAP waives the difference between your primary insurance carrier’s settlement and the payoff on your loan. In other words, it protects the “gap” between your vehicle’s value and the amount you still owe in the case it is damaged beyond repair or stolen and never recovered.
GAP also provides you with a $1,000 credit towards the financing of a replacement vehicle if financed or leased with the same financial institution.
Auto Deductible Reimbursement (ADR) is a separate coverage that is automatically included when you purchase GAP. In the event you need to file a claim (not a total loss), the ADR coverage will reimburse you up to $500 toward your deductible (unlimited losses per year) for any vehicle you own and insure.
Consider this...Your one-year-old financed vehicle is totaled beyond repair...
| Your loan balance is | $15,000 |
| Insurance Company Settlement | $10,000 |
| based on your vehicle's market value | $11,000 |
| less your insurance deductible | $1,000 |
| AMOUNT OWED WITHOUT GAP | $5,000 |
| AMOUNT OWED WITH GAP | $0 |
PLUS $1,000 credit towards the financing of your replacement vehicle.
Extended Warranty/Mechanical Breakdown Protection
Route 66 Extended Warranty is the most comprehensive mechanical breakdown coverage for all makes and models of automobiles.
Be ready for the unexpected and ensure you’re covered in the event a mechanical breakdown occurs. Plans are available for both new and pre-owned vehicles, and coverage is transferable if you sell your vehicle before your agreement expires, providing added resale value.
Inclusive Benefits:
- Zero deductible
- Nationwide coverage
- 24/7/365 emergency roadside service
- 30 day money-back guarantee
- Transferable
- Trip interruption
- Direct claim payments via Visa/MasterCard
Choose from 3 Plans:
- Easy Street (Factory Type Coverage)
- Main Steet (Deluxe Coverage + includes all items in First Street)
- First Street (Drivetrain Coverage)
Total Loss Refund
If you car is declared a total loss by the insurance company due to collision or act of God, we will refund the entire original premium of your service agreement.
Vehicle Protection Plan
Auto Essentials is a bundled package of coverage that protects you from normal driving incidents and out-of-pocket expenses that aren’t typically covered by insurance policies, manufacturer’s warranties or extended warranties.
Essential Coverages:
- Key or Remote Replacement: Replacement of lost, stolen, or destroyed keys or remotes.
- Tire & Wheel Road Hazard Protection: Repair or replacement of punctured, cut or flat tires and damaged wheels/rims due to road hazard or pot holes. Includes cosmetic repair of wheels.
- Paintless Dent Repair: Permanently removes minor dents and dings without harming a vehicle’s factory finish.
- Windshield Repair: Repairs chips and cracks caused by propelled rocks or road hazard debris while driving on public roads, streets, and highways.
UNLIMITED CLAIMS | NO DEDUCTIBLE FOR ANY SERVICE | & MORE
What you Need to Know about Buying a Vehicle
- Always get pre-approved for a loan BEFORE you start shopping. This way you know what you can afford and what your lender is willing to give you.
- Be aware of the mileage on a vehicle you are looking to buy. Average mileage is 15,000/year. The lower the mileage, the better!
- It's always good to have a down payment; it will cost you less in interest and lower your monthly payment.
- Most Lenders won't loan greater than the "Book Value" or on a salvaged title.
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