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Vehicle Loans and Research

Sometimes, the road to happiness starts with a great auto loan.

Get ready for the green light.

Ready to hit the road in a new set of wheels? Roll into MECU and see how easy it is to be cruising in style — in no time.

Sporty or practical. Spiffy or conservative. New or used. At MECU, we have vehicle loans for whatever strikes your fancy.

With great fixed rates (including refinancing), flexible terms and a desire to give you the green light, we’ve got something you’ll enjoy jumping into — the perfect vehicle loan. With MECU, you can drive off with:

Even your loan payment is hassle-free with automatic transfers that:

  • Transfer funds automatically from one MECU account to another
  • Ensure each payment is made on time
  • Save the time of going to the credit union and the expense of mailing your payments

Our comprehensive range of vehicle loan services includes:

  • Preapproved auto loan check 
  • Full vehicle protection packages 
  • Optional payment protection

So when you’re ready to get rolling, we’re ready to help.

For a list of our fees, please check our fee schedule.

TermAPR As Low As**Bank Average APR
New Vehicle - up to 24 months


New Vehicle - up to 36 months


New Vehicle - up to 48 months


New Vehicle - up to 60 months


New Vehicle - up to 72 months


Used Vehicle - up to 24 months


Used Vehicle - up to 36 months


Used Vehicle - up to 48 months


Used Vehicle - up to 60 months


Used Vehicle - up to 72 months



** Annual Percentage Rate (APR) is based on excellent credit history, and reflects a .50% discount for Express Advantage members (those with MECU checking and direct deposit) who make automatic loan payments from an MECU checking or savings account. APR for new cars applies to 2013 or newer models with a loan to value up to 100%. APR for used cars applies to 2011-2012 models with a loan to value of less than 80%. The APR for used 2008-2010 models is as low as 2.99% APR (48 month term), and for used 2007 and older models is as low as 4.99% APR (48 month term). Your actual rate will be based on creditworthiness, vehicle model year, loan to value, term and Express Advantage status. Rates are subject to change without notice. National average APR may not reflect rate discounts offered by MECU. Payment example: A $20,000 loan with a 48-month term and 1.99% APR would have 47 payments at $434.18 and a final payment of $433.98.

* No bank average is shown because this offering is not commonly available at other financial institutions. Bank average APRs provided by Datatrac, an unbiased research firm that monitors rates from over 20,000 financial institutions nationwide.

Because it’s one of the most expensive purchases you’ll make, you may wish to consider additional protection for your vehicle.

Opting for the MECU auto loan package helps protect your financial investment, vehicle repairs, and even your credit rating. For just a few dollars more a month, enjoy extra peace of mind in knowing you’re covered when the unexpected occurs.

  • Guaranteed Asset Protection (GAP). If your vehicle is stolen or totaled, GAP pays the difference between your primary insurance settlement and your outstanding loan balance, potentially saving thousands in out-of-pocket costs.  Learn more.
  • Mechanical Repair Coverage (MRC). Plan for the unexpected for mechanical repairs outside the manufacturer’s warranty – available for new and used cars that are no more than 10 years old and have no more than 120,000 miles. (Not available for motorcycles or boats.)  Learn more — and get a quote.
  • Payment Protection. Enjoy added peace of mind knowing your loan will be paid in the event of unforeseen, difficult circumstances, including unemployment, disability or death. Learn more.

Compare vehicle loan rates

APRs in this table are for used auto loans of $20,000 with a 60-month term.

Financial InstitutionAPR
Bank of America2.54%
Wells Fargo5.99%

Competitor APRs are for Illinois only and are based on They reflect private transactions and no relationship-pricing discounts. MECU’s APR applies to private and dealer transactions for 2011-2012 models and reflects a .50% discount for a loan to value of less than 80% plus an additional .50% discount for Express Advantage members (those with MECU checking and direct deposit) who make automatic loan payments from an MECU checking or savings account. All rates are effective as of April 22, 2014. For all MECU auto rates and disclosures, click here.

At MECU, you’ll find everything you need to know about buying a car in one convenient place. Makes and models. Prices and rates. Do’s and don’t’s. Even specials deals being offered.

These links can help you make well-informed buying decisions. So when your search is complete, you can be confident that the car you choose is a car you’ll love.

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