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Southfield Office
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Novi Office |
| 22250 Providence Drive |
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26850 Providence Parkway
Suite #110
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| Southfield, MI 48075 |
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Novi, MI 48374 |
| (248) 996-6070 |
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(248) 662-0383 |
| Fax: (248) 849-5391 |
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Fax: (248) 662-0385 |
Credit Union Advantage lends money to members purchasing new and used vehicles. Loan interest rates are reviewed monthly to ensure they are competitively priced.
CU Advantage offers several services where you will experience an easy, hassle-free way of buying a new car.
New Vehicle
CU Advantage will finance up to 100 percent of the cost of a new car, truck or van, including tax and license. The maximum term for this loan is 72 months (84 months for amounts more than $20,000).
Used Vehicle
CU Advantage will finance up to 100 percent of the high Blue Book value (call us for Blue Book details or click on CU Auto). Terms up to 72 months are available.
Motorcycle Loan
CU Advantage will finance 100 percent of the purchase price (tax and license included) of a new motorcycle, and 100 percent of the blue book value of a used motorcycle. Maximum term is 60 months.
Pre-Approvals of New and Used Vehicle Loans
Fill out an application before you start shopping for a vehicle. Once it's approved, you may select a vehicle at your leisure. A pre-approved vehicle loan is valid for 60 days. Pre-Approved financing will give you an advantage when bargaining for the price of the vehicle.
Leasing Program
Credit Union Advantage is looking into a leasing partnership on Ford Motor Company and General Motors vehicles. Watch for details.
Recreation Vehicles
Looking to go boating or vacationing in your motorhome BUT you need the boat or the motor??? We can finance them for you!! Preapprovals are available!! We can finance for up to 120 months.
** All loans are subject to credit approval. **
GAP Coverage
Guaranteed Asset Protection (GAP)* is an optional program that we offer for your new or used vehicle. This financial protection covers the difference in the balance on a car loan and its declared value, as determined by your primary insurance carrier, in the event that it is damaged beyond repair or stolen and never recovered. GAP is a supplemental coaverage and does not replace your standard Comprehensive, Collision and Liability coverage, only enhances it.
Why get GAP? No matter how terrific a car is, the minute you drive it out of the show room, its value decreases. Depending on where you live and how much you financed, the established market value may be less than the actual balance you owe on your car. With GAP, if your car is totaled or stolen, the deficiency will be covered. That includes the difference between your primary carrier's insurance settlement and the payoff of your loan, less delinquent payments, late charges, refundable service warranties, and other isurance related charges. Included in the GAP payment is your primary insurance deductible, which is covered up to $1,000 if a deficiency exists.
Consider: You buy a car. The loan balance after one year is $15,000. The market value is $11,000. Your insurance deductible is $1,000. You total the car, and your insurance company pays $10,000. That leaves a difference of $5,000. That is $5,000 you would have to pay for a car you no longer possess! With GAP, that $5,000 is paid.
The one-time charge for GAP is $250 per vehicle for a five year loan. This equals $25.00 every six months. Other features are:
- The primary insurance deductible will be reimbursed, up to $1,000,
- Available from terms up to 72 months,
- Maximum claim benefit is $50,000,
- Maximum vehicle value at financial agreement inception of $100,000,
- GAP pays $1,000 towards the purchase of a new vehicle
Do you have any questions?....Call our loan experts for more information.
*Insurance products sold through or in the credit union are not insured by the National Credit Union Administration (NCUA), and are not issued, guaranteed, or underwritten by the credit union or the NCUA or any other federal government agency. There is no requirement or obligation to purchase insurance from the credit union or any subsidiary, affiliate, or particular unaffiliated third party as a condition to obtaining a loan, and a decision as to insurance agents will not affect the credit terms in any way. The credit union may not condition an extension of credit on an agreement not to obtain, or a prohibition on the applicant from obtaining an insurance product or annuity from an unaffiliated entitiy
Mechanical Breakdown Insurance
