We will loan up to 125% of the MSRP (Manufacturer Suggested Retail Price) plus refundable adds, (such as GAP Insurance and Mechanical Repair Coverage) for our most qualified borrowers. On used cars, we will loan up to 125% of the NADA (National Auto Dealers Association) retail value, plus refundable adds

Terms vary. The most common new and used vehicle terms are three to five and a half years. New and used vehicles with values greater than $15,000 qualify for a six-year term.

Our loan representatives have the NADA Guide available to them, which can provide valuable information regarding MSRP and appraisals for new and used vehicles.

Many area dealers in Champaign-Urbana and in the surrounding area can take your application and close your loan right in their dealership.

The credit union will need a copy of the buyer order, purchase agreement, or worksheet. This sheet provides all the information on the vehicle you are purchasing in addition to the purchase price, your trade (if applicable), plus tax, title, and license.

Applying the dealer cash rebate to the purchase price can reduce your loan amount. But it isn always the best choice. Don't be at a disadvantage- call and ask us to run the numbers for you

If you are borrowing more than the car's market value, you may want to consider Gap Protection. Loan Protection Calculator

Our team of lending professionals can help you make the right choice for your situation. Call or stop by the credit union to review your options.

It is any auto loan that converts a regular vehicle loan to a loan with deductible interest payments, in most cases. (Usually, the interest is deductible on these types of loans, but you should always consult your tax advisor for advice.

UIECU recommends that you seek the advice of a tax consultant. Another source of information is the IRS.