Auto Loans

84 Month Terms Available with up to 90 Days NO Pay!    

CPM Federal Credit Union is committed to offering our members competitively priced auto loans to meet a variety of needs and budgets.      lady with car keys 

Applying for an Automobile Loan is simple and easy!

  1. Apply Online
  2. Apply at any CPM branch location
  3. Apply by calling our Contact Center at 800.255.1513  
     

Loan Protection Products are available to you:

GAP (Guaranteed Asset Protection)
Our GAP product just got better! We now offer Auto Deductible Reimbursement on any auto or truck with purchase of our GAP Advantage product. Our Auto Deductible Reimbursement program pays up to $500.00 when a claim is filed with your insurance company and paying auto deductible is required. Best part, it’s not just on the auto that has the GAP protection. Call for more details!

MBP (Mechanical Breakdown Protection)
Expect the unexpected. You never know when your car is going to break down. CPM offers three levels of options! Let us help you choose the right one for you.

Debt Protection
Preserve the standard of living you worked so hard to achieve. With options including involuntary unemployment, let us make your payments! Ask us how.

Applying for a Loan

You'll need the following to complete an application:

  1. Member number
  2. Social Security number
  3. Employment information
  4. Current salary
  5. Supervisor's information
  6. Co-borrower's information (if applicable, listed below)
  • Full name
  • Social Security number
  • Physical address
  • Phone number(s)
  • Employment history

Collateralized purchase or refinance:

  1. Year, make, and model
  2. Verification of insurance

Vehicle Loan Rates (Last Modified: Nov 03, 2017)

TypeTermAPR
New AutosUp to 36 monthsas low as 1.89%
Financing 37 - 60 monthsas low as 2.29%
Financing 61 - 72 monthsas low as 2.59%
Financing 73-84 monthsas low as 2.99%
Used Autos Up to 36 monthsas low as 2.19%
Financing 37 - 60 monthsas low as 2.69%
Financing 61 - 72 monthsas low as 2.99%
Motor Homes, 5th Wheels, Travel Trailers,
and Other Secured
Up to 120 months
Minimum to Finance $30,000
as low as 5.99%
Up to 84 months
Minimum to Finance $20,000
as low as 5.49%
Up to 60 months
Minimum to Finance $5,000
as low as 4.99%
Boats85-120 months
Minimum to Finance $30,000
as low as 5.99%
61-84 months
Minimum to Finance $20,000
as low as 5.49%
Up to 60 months
Minimum to Finance $5,000
as low as 4.49%

APR - Annual Percentage Rate
New vehicles are either current or previous year auto with less than 12,000 miles.
Rates listed are best available based on approved credit; actual rate offered may be higher depending upon applicant credit rating and other underwriting factors.
All advertised rates are subject to change without notice.


1APR - Annual Percentage Rate. Membership rules and restrictions apply. Rates, terms and conditions subject to change without notice. Rates based on credit approval. New auto loan rates as low as 1.89% APR for 36 months. Used auto loan rates as low as 2.19% APR for 36 months.
2Interest begins accruing at disbursed date of loan. Must begin repayment of loan 90 days after loan effective date. Not all borrowers will qualify for deferred payments. For a $15,000 vehicle loan at 3.39% APR and a payment term of 60 months, your monthly payment will be $272.28. This amount does not include optional vehicle protection coverage. For a $30,000 vehicle loan at 4.19% APR and a payment term of 84 months, your monthly payment will be $412.92. This amount does not include optional vehicle protection coverage.