Vehicle Loans

Whatever your need in a car, Princeton Federal Credit Union has the loan for you. New or used car,  whatever the dealer cost, you will save when you finance your car with an automobile loan from us.

Come to us for the best interest rates and payment terms. Don't forget, you can make your loan payments easier with Direct Deposit and Payroll Deduction.

• New Vehicle Loans
• Used Vehicle Loans
• Boat Loans
• GAP - Guaranteed Asset Protection
• Application Requirements
• Online Loan Application

New Vehicle Loans

Take advantage of our low rates, flexible terms, and up to 115% financing of the actual vehicle cost. You can use this loan to buy a new car, truck, van, motorcycle, sport utility vehicle, even a boat!

Check our latest news for special discount loan rates, promotions, and sales! Make a Princeton Federal Credit Union vehicle loan even easier with Payroll Deduction and Direct Deposit.

Used Vehicle Loans

If a pre-owned vehicle is what you have in mind, we offer competitive rates and flexible terms. You can finance up to 115% of the NADA retail book value or the actual selling price, plus taxes, tags, and warranty.

New and Used Vehicle Loans please note the following: Annual Percentage Rate, terms of loan, loan to value and/or amount borrowed are all subject to applicant(s) credit worthiness.

Boat Loans

You can take to the open sea with a boat loan from the credit union. Contact us before you go boat shopping, to verify the requirements, options, and amount you can borrow. Then, set your course.

GAP - Guaranteed Asset Protection

Guaranteed Asset Protection (GAP) is a voluntary program that we offer for your new or used auto loan. (You can also request GAP be applied to your ATV, boat or RV loan). GAP covers the difference of the loan balance on a car and its declared value in the event that it is damaged beyond repair or stolen and never recovered. The insurance company only pays the actual cash value of the vehicle at the time of loss.

No matter how terrific a car is, the minute you drive it out off the show room, it is worth less. Depending on where you live, the established market value could be less than the actual balance you owe on your car. With GAP, if your car is a total loss, the deficiency will be covered.

GAP provides you with:

• All Risk Protection For New And Used Vehicles
  
• Protection Is Provided For The Term Of Your Loan
  
• Deductible Coverage Up To $1,000
  
• Minimal Monthly Cost
  
• Protection Effective With The Execution Of All Documents
• A $1000 down payment credit toward a replacement vehicle (where allowed by law) when financed by PFCU.

GAP PLUS (cost to member)

Motor Vehicle	$249.00
Power Sport (ATV's, snowmobiles etc.)	$249.00
Watercraft	$249.00
Recreational Vehicle's	$299.00

Application Requirements For Vehicle Loans

Purchase Agreement or Buyers Order

A purchase agreement or buyers order must be submitted to the loan department for final approval. However, the application can be submitted before you purchase a vehicle for a preliminary pre-approval.

Insurance Coverage

Full insurance coverage, including collision insurance (maximum deductible-$1,000), must be carried by the borrower for the term of the loan.

If you do not have auto insurance, the credit union will be forced to obtain collateral protection insurance for the vehicle. The cost of the policy will be added to the loan balance.

Title Lien

The credit union must be listed as lienholder on the Certificate of Title. Title will be held at the credit union until loan is paid in full. All owners of the vehicle must sign loan documentation as borrower or owner of collateral.

Online Loan Application

We do business in accordance with the
Federal Housing Law and the Equal Credit Opportunity Act.