Forest Area Federal Credit Union (FAFCU) offers a variety of new and used automobile loans that have a lower interest rate than unsecured loans. Plus, we’re part of the Driven Program, which is designed to approve and fund auto loans to underserved and credit challenged members.
Browse our rates or apply for a loan today and get one step closer to getting behind the wheel of your dream car.
GPS auto loans are perfect for either first time car buyers or those who have troubled credit and are looking to get behind the wheel of a quality vehicle. We offer a better rate than most places so you have the flexibility to drive the car you need.
A GPS (global position system) unit is installed into the vehicle of the members choosing to allow collections to track the location of the car or set an alarm on the vehicle to remind members that the payment is due or that they need to contact the credit union for other issues possibly related to insurance.
Allows members and potential members to procure a loan with the dealership saving them time and money while still being able to get a Forest Area Federal Credit Union loan.
Ask the dealership about getting the loan with FAFCU today to take advantage of our low rates.
Paying a higher loan rate for your vehicle than what we’re offering? FAFCU can refinance automobiles from other financial institutions to save you money. Contact us to set up an appointment today.
Drive your new or used vehicle with peace of mind knowing you’re covered from costly vehicle repairs. With Mechanical Repair Coverage (MRC), FAFCU borrowers can be sure their investment is protected when they’re faced with an unexpected mechanical or electrical failure on their new vehicle. Plus, if something does happen, you’ll have access to fast claims and payment will be submitted directly to the repair facility.
Depreciation protection kicks in if a vehicle is ever totaled or stolen and not recovered at any time over the life of a loan from FAFCU.
It will waive some or all of the loan balance in the event of the total loss of a vehicle. The waiver benefit is equal to the difference between the vehicles MSRP or retail value at the time of DPW purchase, less the amount of your loan balance at the time of total loss. (The benefit cannot exceed the DPW addendum limit or your outstanding loan balance at the time of the total loss)
GAP is a program offered as additional protection on your auto loan. GAP helps borrowers avoid financial loss in the event their vehicle is totaled or stolen. Since insurance settlements are based on the car’s actual cash value, they are often less than the loan balance, which creates a deficiency balance or “gap” that could jeopardize repayment. GAP waives the deficiency balance, saving the borrower and financial institution from a possible loan loss.
1) Automobile Deductible Reimbursement (ADR)
Submit an unlimited claims per year with a $500 deductible. To submit a claim, visit www.assuranceplus.com/Claims.
2) Guaranteed Auto Protection (GAP)
Coverage available for new/used private passenger autos and light duty non-commercial trucks (available on other types of collateral as well). Coverage is provided throughout the loan term, not to exceed 84 months. Pays the difference between the loan payoff and ACV of the vehicle in the event of total loss
3) $1,000 Total Loss Fund
Receive $1,000 towards a new vehicle financed with FAFCU upon the covered vehicle being claimed as a total loss. New vehicle must be financed within 90 days to receive this benefit.
4) GAP is Warranty Vault™
Allows you store all your warranty information to all of your purchases in one spot.
Benefits to having a loan from FAFCU include:
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We proudly serve members in Grand Traverse, Kalkaska, Antrim, Crawford, Missaukee, and Wexford counties who meet our member requirements.
Discover our low rates, refinancing options, and excellent member service. Apply to be a member today!