Buying a new or used car? Turn to your Credit Union first for financing.
Our rates are below the competition, and you can count on flexible terms and financing up to 120% of the car's Kelley Blue Book value. Interest rates are dependent upon credit worthiness and the term of the loan, with terms extending up to 84 months!
Nikkei Credit Union will also finance the purchase of a car that is 9 model years or newer. For used cars, the term of the loan will vary with the year, make, model and mileage of the vehicle.
What do I need to qualify for a car loan?
When you submit your loan application, we consider your history with the credit union. We'll also be looking at your credit history to determine how much we can finance for you. A good credit history consists of a record of on-time payments to your creditors (e.g. credit cards, other loans).
Are your rates the same for new & used cars?
We have established separate rates for new and used vehicles - check the current loan rates by clicking the buttons above.
Is there an early pay-off penalty?
No. You can make payments toward your loan balance any time and there won't be any penalty fees. Paying off your loan early is certainly a benefit to your finances as it will decrease your total interest payment.
Protect Your Auto Investment
Guaranteed Auto Protection (GAP)
What happens to your car loan if the car gets damaged? Or, what if it's stolen?
What does GAP cover?
Guaranteed Auto Protection (GAP) offers protection against financial liability for individuals who finance a new or used vehicle. GAP protects the individual against financial loss in the event that their vehicle is damaged beyond repair (totaled) or stolen. If GAP is in place, the covered deficiency balance is waived.
In today's automobile market, during the first few years that you own your vehicle, your loan balance can be higher than its actual cash value (ACV). As your car's value declines, your loan balance can be higher than the value.
If your car were to be stolen or destroyed in an accident, you would be liable to pay the difference between your insurance settlement and your outstanding loan balance. GAP covers the difference between the market value of your vehicle (ACV) and the loan balance, less delinquent payments, late charges, refundable service warranty contracts and other insurance related charges. Also, GAP will cover your insurance deductible, up to $1,000.
Loan balance after 1 year
Without GAP coverage, you would have to pay the difference ($5,000 in the example above) out of your pocket in order to pay off your loan. Guaranteed Auto Protection is a loan deficiency waiver and is not offered as insurance coverage.
Mechanical Breakdown Insurance (MBI)
Will you be prepared when the mechanic tells you the repairs are not under warranty?
How does MBI Work?
When your vehicle needs repair, it's nice to know that you are covered by a protection plan with a guaranteed low deductible long after the manufacturer's warranty has expired. Without protection you could be facing large unpredictable bills - and the cost of repairs will only increase during the time you own your vehicle.
How do I get service?
Service is your choice. You can return to the selling dealership or any licensed repair facility. However, if your dealership is not convenient, professional and reliable service is just a phone call away. Just call (800) 654-8455 for service 24 hours a day.
What if I sell my vehicle before my service contract expires?
Coverage is transferable to an individual new owner. So, if you decide to sell your vehicle to a new owner, you can transfer your coverage, thus increasing the value of your vehicle.
When does my coverage start?
Your coverage begins on day one. The program provides coverage during the manufacturer's warranty for items not covered by the manufacturer, i.e. towing, tire coverage, etc.