- Members must be 18 years old or otherwise eligible for lending services to apply. Lending is limited to North Carolina, South Carolina, Georgia, Tennessee, and Virginia residents and titled vehicles. Other restrictions apply.
- To be eligible for this discount, members must be a current full-time or retired employee of the state of North Carolina (including public school employees) and members’ state payroll or retirement benefits from a plan administered by the North Carolina Retirement Systems division of the Department of State Treasurer must be on direct deposit with SECU (if on partial direct deposit, total monthly direct deposit amount must be $500 or greater). Additional terms and conditions apply.
- Cash out is not available on vehicle purchase transactions.
- Vehicle title held as collateral until the loan is repaid. Commercial vehicles or vehicles with branded (flooded, salvaged, or reconstructed) titles, motorcycles, boats, and RVs are not acceptable collateral.
- Financing is not allowed on vehicles older than ten years or those with mileage over 150,000 at the time of origination.
- SECU uses FICO® Score 8 credit scores to determine loan rates.
- Auto, home, and other personal lines of insurance are subject to underwriting. Insurance products are not guaranteed by, a deposit of, or an obligation of, any credit union and are not insured by NCUA or any other federal government agency. Insurance specialists are licensed to sell in North Carolina only.
- GAP claims are processed through TruStage.
- Your purchase of Guaranteed Asset Protection (GAP) is optional and will not affect your application for credit or the terms of any credit agreement you have with us. Certain eligibility requirements, conditions, and exclusions may apply. You will receive the GAP Waiver Agreement (”Agreement”) before you are required to pay for GAP. You should carefully read the agreement for a full explanation of the terms. If you finance the GAP fee, interest will be assessed against the fee which will increase the cost. You may cancel GAP at any time. If you cancel GAP within 90 days you will receive a full refund of any fee paid. If you cancel on or after the 91st day you will not receive a refund.
- GAP may not protect the entire deficiency between the insurance payment or actual cash value and your outstanding loan balance. You are responsible for any remaining balance due on your loan after processing the request for benefits. A copy of the GAP Agreement can be provided upon request for additional information.
- GAP coverage can be canceled at any time; however, a refund is available only during 90-day free-look period under certain circumstances. Loan payment amount may be modified if cancellation occurs during 90-day free-look period.
- GAP coverage cannot be added to an existing auto loan. To add GAP, the loan must be refinanced, and coverage must be selected during the new loan origination.
- Gross vehicle weight must be 14,000 pounds or less. GAP coverage is unavailable for salvaged vehicles, flood vehicles, vehicles with a reconstructed title, classic vehicles, or vehicles used for ride-sharing.
- Based on MSRP or JD Power average retail value.
Car shop with confidence
For members 18 years or older,1 SECU provides vehicle loans with flexible terms and competitive interest rates. We are offering an additional 0.50% interest rate discount to certain qualifying2 North Carolina state employees and state retirees.
Explore our auto loan programs and offerings:
Estimate your auto loan rate
Provide an estimate of your credit history and the type of vehicle loan you need to obtain an approximate loan rate.
- SECU uses FICO® Score6 to determine loan rates in addition to loan term and model year.
- You can see your FICO Score in Member Access or the SECU App if you already have a lending relationship with SECU.
- This tool is for estimation purposes only. Contact your local branch, Member Services Support at (888) 732-8562, or apply online to get your actual rate.
Features of GAP:
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90-day "free look" period: During the first 90 days of the loan, coverage may be canceled for a full refund. The refund is applied to the outstanding loan balance.11
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Available for new and used cars, light trucks, vans, and SUVs.13
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Maximum claim benefit of $50,000.
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Maximum market value of the vehicle is $100,000.14
GAP should be considered when you:
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Drive a lot of miles annually; this decreases your vehicle’s value more quickly.
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Finance the purchase of a vehicle with a minimal down payment, resulting in a high loan-to-value.
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Trade in a vehicle with negative equity and the amount still owed is rolled into the new vehicle loan, resulting in a high loan-to-value (LTV is the ratio comparing the amount of your loan with the appraised value of the vehicle).
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Have a loan term that is longer than 60 months.