Auto Loans
Shopping For a New or Used Car or Truck? Or Motorcycle?
You've already got plenty to think about: makes, models, optional equipment, colors and so on. When it comes to financing, make it easy on yourself with an auto loan from 1st University Credit Union. We have loans available for new and used cars, trucks, and motorcycles. Our loans feature competitive interest rates and the kind of efficient, personalized service that only your credit union can provide.
Please contact us for more information on loans or click here for a loan application.
Want to be well-prepared to make an informed decision and secure a vehicle that meets your needs and budget? Here are five questions to ask yourself before you start to shop.
Not Yet a Member? Come Join Us!
Most of our current members are people who live, work or worship in the Waco area, are relatives of our current members, or are affiliated with Baylor University, including members of the Baylor Alumni by Choice organization.
How to Join:
Once your loan is approved, we'll set up a savings account for you as well. After an initial deposit of $5.00 or more, you’ll unlock access to all of our credit union services. By maintaining a minimum balance of $5.00 in your savings account, your membership remains in effect.
Auto and Motorcycle Loan Rates
| Type | Term | APR* as low as |
|---|---|---|
| New Auto | up to 48 months | 5.75% |
| -- | up to 60 months | 5.85% |
| -- | 61 to 75 months¹ | 5.95% |
| -- | 76 to 84 months¹ | 6.50% |
| Used Auto Secured on Models up to 5 Years Old $15,000.00 or Less |
up to 36 months | 6.00% |
| -- | up to 60 months | 6.25% |
| Used Auto Secured on Models up to 5 Years Old $15,000.00 or More |
up to 36 months | 6.00% |
| -- | up to 60 months | 6.00% |
| -- | up to 75 months¹ | 6.25% |
| Used Auto Secured on Models older than 5 years |
up to 48 months | 8.50% |
| Motorcycles | up to 48 months | 9.25% |
| -- | up to 60 months | 9.75% |
1: Conditions apply
Rates and terms are effective April 30, 2024, are subject to change, and are based on credit qualification.
GAP Plus Protection
GAP PLUS PROTECTS YOU WHEN YOU NEED IT MOST – WHEN YOUR VEHICLE IS DECLARED A TOTAL LOSS OR IS STOLEN AND NOT RECOVERED.
It pays the difference between your primary auto insurance settlement and the unpaid net balance of your loan. GAP will even cover your primary auto insurance deductible, up to $1,000.00, and is available for both new and used vehicles. Also, with GAP Plus Protection, if your vehicle is declared a total loss or is stolen and not recovered, and you finance your replacement vehicle with 1st University Credit Union, within 90 days, you will receive a $1,000.00 credit towards the replacement vehicle. GAP Plus can be added to new or used vehicle loans, at any time! So call the Credit Union to add this valuable protection today!
Vehicle Service Contract
YOUR VEHICLE IS NOT ONLY AN INVESTMENT, IT’S YOUR TRANSPORTATION LIFELINE.
Our VSC (Vehicle Service Contract) plans, provide you the peace of mind knowing your investment is protected. With over 13,000 mechanical parts that can break down on a vehicle, repair bills can be costly. With our comprehensive VSC plans you will avoid these expensive repairs to your vehicle. You choose the repair facility of your choice and all plans include: Roadside Assistance, Rental Car Assistance, Tire Protection, and Trip Interruption. Our prices are usually hundreds of dollars less than the dealerships and provide the same, or better coverage. Coverage is available on most vehicles, with unlimited miles currently on your vehicle, and can be added at any time, so you are eligible.