Loans
Whether you are purchasing a new or used vehicle or refinancing a vehicle you currently have financed with another institution, L.C.E. Federal Credit Union can serve all of your financing needs.
The credit union uses performance-based lending, so your rate will be determined by a number of factors, your credit score, the year of the vehicle, and how long you want to finance the vehicle. We also run frequent loan specials, which can further reduce your interest rate. Click below to use our loan calculator to help you figure out a monthly vehicle loan payment.
L.C.E. Federal uses N.A.D.A., the official used car guide to determine the value of a vehicle for loan purposes. N.A.D.A. vehicle values are also available online. Whether you are selling your vehicle, or purchasing a used one, you can use this resource to check the value.
We Offer GAP - For the Unexpected!
Guaranteed Asset Protection (GAP) is a voluntary program that we offer for your new or used vehicle loan. This financial protection covers the difference in the balance on a car and its declared value that there is, as determined by your primary insurance carrier, in the event that it is damaged beyond repair or stolen and never recovered. GAP is not an offer of insurance and does not replace your standard Comprehensive, Collision and Liability coverages, it only enhances them.
No matter how terrific a car is, the minute you drive it out of the show room it is worth less. Depending on where you live, the established market value could be less than the actual balance you owe on your car. With GAP, if your car is a loss, 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 insurance related charges. Included in the GAP payment is your primary insurance deductible, which is covered up to $1,000 if a deficiency exists. In addition, you are eligible for an additional $1,000 towards the financing of a replacement vehicle financed through L.C.E. Federal Credit Union.