Navigating Your Next Auto Loan

At Garden State Federal Credit Union, we’re here to help you save on a new car purchase. We can also help you to examine your financing choices – with less hassle and for less money than from the dealerships or megabanks. If coming up with a down payment’s a problem, don’t worry. We offer up to 135% financing.

Still, it’s not so much about us getting the financing. The bottom line? We care about you and want to ensure the loan is easy on your budget. Often, members get into financial trouble when they choose more car than they can comfortably afford. For that reason, we can help you to select a financing plan – and the loan amount – that’s right for you.

Consider a loan with us when:

It’s Time to Trade-Up – Consider trading in your current car for a better ride, especially if your current vehicle is beginning to falter.

You’re Ready to Buy – We can help you to stay within budget with a preapproved loan – which can help you to negotiate a lower price for the car.

You Want to Refinance and Save – If you have a loan from another lender, see how much you could save with an easy refinance. More than likely, we’ll be able to lower your rate or monthly payment.

Navigating the car buying process can be a challenge. But remember, we’re here to help. Just call 800-713-2274.


Finance Your Vehicle With Us!

New & Used Vehicle Loans

As Low As 2.74% APR*

Or refinance and save.

Bring us that higher-interest loan from another financial institution and save money on your monthly payments.

To learn more or apply online, click here.

*ARP = Annual Percentage Rate. 2.74% APR rate is for 36-month term and will vary based upon term and your credit worthiness.

What Every Borrower Needs To Know

Why Is Prequalifying For An Auto Loan Helpful?

With a preapproved loan, you increase your purchasing power. This is particularly important when buying a new car. It also enables you to step back before you buy to review both your budget and driving needs.

Before stepping onto a dealer’s lot, stop in and see us or call. Together, we can help you determine an appropriate amount that works for your budget. Also, try to budget by the vehicle’s purchase price rather than monthly payment; shopping by payment amount can often tempt buyers into spending more on the car than originally planned.

When you’re prequalified for the loan before you start serious shopping, you’re more apt to stay within budget. And at Garden State Federal Credit Union, our rates are low, and we offer a variety of methods for convenient repayment.

The best way to get a better deal? Get approved first, then negotiate the vehicle’s purchase price, NOT by monthly payment.

Extra Coverages For Your Auto Loan

For Added Peace of Mind

Debt Protection

This insurance will safeguard your loan and more importantly, your family, in the event of death, disability, or loss of employment.

Nobody wants to think the worst, but it feels good to plan and prepare for any unexpected life event. Debt protection is an additional insurance policy, and it’s an excellent way to prevent your loved ones from inheriting an unwanted debt.

How does it work?

You purchase the coverage with your loan. It will pay off your loan in the event of death, disability, or loss of employment. It is peace of mind coverage and available on any auto loan. Call us for details or to enroll.

GAP Coverage

Protect yourself from the added cost if your car is totaled or stolen.

GAP coverage is another type of insurance that helps to protect you in case you become “upside-down” with your loan or have negative equity – and owe more than your car is worth. This usually occurs when you finance more than the car’s value – for example, if you add in tax, title, and license with the purchase price. It can also occur in more expensive vehicles which tend to depreciate faster or longer-term loans.

How does it work?

If you are in an accident, and the car is a total loss, GAP coverage pays the difference between the loan amount and the value of the vehicle. It also covers your full loan amount if your car is stolen and not recovered.

In addition, GAP insurance will also give you $1,000 towards your next vehicle purchase if you finance the loan with us. And, our AUTO Deductible Reimbursement will cover your deductible on any vehicle under your auto policy.

How much does it cost?

For $350, this insurance gives you peace of mind; and you won’t have to worry about making up for the deficient balance in case the loan is not paid in full by insurance.

If you feel you may be upside down in your loan, consider GAP coverage.

Mechanical Breakdown Insurance

How does it work?

With mechanical breakdown protection, you’ll have extra coverage if something breaks down on your vehicle. It’s available for new and used cars, and you can have repairs done at the licensed repair shop of your choice. It’s also transferable to the next vehicle owner.

Another flexible feature – you don’t have to have your auto loan with Garden State to purchase the coverage. You can purchase mechanical breakdown protection if you have your auto loan elsewhere.

Call us at 800-713-2274 to learn more about any of these affordable coverages.

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