Auto & Recreational Loans
If you’ve been thinking about a new or used auto, boat, RV, or motorcycle come to your credit union first. Along with competitive rates, you’ll enjoy flexible terms up to 84 months, up to 100% financing, FREE pre-approvals and no pre-payment penalties.
At Directions Credit Union, these loan rates are based on your credit qualifications, not the vehicle. So new or used, short terms or long terms, we strive to give you the best deal in town!
First Time Car Buyer Program
If you have never purchased a car before in your own name, you are eligible to join the program.
While shopping for a vehicle is often exciting, it can also be complicated and time-consuming. It involves balancing your desires with your economic reality, deciding whether to buy or lease, and knowing what is the best deal for you.
Get educated on your first auto purchase and loan and receive .25% discount* off the rate by completing and passing an on-line credit course.
Click http://www.balancetrack.org/driveawayhappy/index.htm to get started.
*Must correctly answer 7 of the 10 questions (70% grade) to receive a "passing grade" and receive the discount on the auto loan rate.
Click here to view our Auto & Recreational Rates!
It’s Easy to Apply
With three convenient ways to apply for your auto loan, Directions Credit Union makes financing the easiest part of purchasing your vehicle. Choose the option that works best for you:
1. Apply for your loan from the comfort of your home or office with our online applications.
or
If you are a user of Directions Credit Union CUOnline (home banking), you can log on and click the tab "Loans" to apply for a loan.
2. Get your auto loan right at the dealership! Your loan application can be completed and approved at the dealership. Most Toledo and Central Ohio auto dealers are participating. Just tell the dealer you are a Directions Credit Union member.
Download a complete list of our participating dealers in Toledo or Central Ohio.
3. Stop by one of our locations to apply for your loan. Our Member Service Representatives are happy to help you complete your application and will answer your questions to make sure you get the financing program that best meets your needs.
Don’t be Fooled by 0% Finance Offers
At times, the small print in all of the "special offers" gets confusing. We will be happy to help you sort through your options. With Directions low vehicle loan rates, we like to boast that the majority of the time, if you take the manufacturer and/or dealer rebate, and then finance your loan through us, you can save hundred’s over the life of your vehicle loan. This is easier to demonstrate through the following example:
| Dealer Financing | Directions Credit Union Loan | |
|---|---|---|
| Loan Rate | 1.9% APR* | 4.85% APR* |
| Loan Term | 36 Months | 36 Months |
| Purchase Price | $20,000 | $20,000 |
| Auto Dealer Rebate | $0.00 | $2,000 |
| Loan Amount | $20,000 | $18,000 |
| Monthly Payment | $572.01 | $538.19 |
| Total Amount Paid | $20,592.36 | $19,374.84 |
| With Directions Credit Union, you save: | $1,217.52 |
As is shown above, the cost of the low dealer financing is ultimately reflected in the final price you pay for the car. Also, at Directions Credit Union we offer longer term financing, up to 84 months, which will lower your monthly payment even more.
For great price-negotiating leverage, get your Directions Credit Union loan pre-approved before you visit the dealer.
*APR means Annual Percentage Rate. All loans subject to credit approval. Actual rate received is based on your credit qualifications. Rates are subject to change. Directions Credit Union car loan rate is fixed. Members who have a Directions Credit Union Basic Advantage or Investment Checking Account receive a 1/2% rate discount. For current rates, see our Auto & Recreational Loan rates section.
**Information shown is for illustration purposes only.
We do business in accordance with Federal Fair Housing Law and the Equal Credit Opportunity Act.
