Auto & Vehicle Loans
Finance Your Next Ride with Confidence
Whether you’re buying a new car, refinancing your current loan, or upgrading your vehicle, Energy Capital CU offers flexible auto loan options with competitive rates.
- Loans for new and used vehicles
- Auto loan refinancing available
- Competitive rates and flexible terms
- Fast and simple online application
Best for: Buying or refinancing a vehicle with flexible financing
Take Advantage of 90 Days No Payment!
For a limited time, enjoy 90 days with no payments* on your auto loan! This special offer gives you the flexibility you need. Don't wait - apply today and make your first payment three months from approval!
- Same day approval and financing
- Same day purchase from a dealer or individual
- Low loan rates
- Up to 100% financing
- Direct deposit and autopay are available, so you don't have to worry about missing a payment
- Same rates available for a new or used auto purchase, or refinancing an existing auto
- Skip a loan payment is available twice a year**
- Car leasing loan options are also available
Click below to view your rate with no impact to your credit score.
Vehicle Loan Options Available at Energy Capital Credit Union
What Can You Finance?
ECCU auto loans can be used for:
- New or used cars
- Trucks and SUVs
- Motorcycles
- Recreational vehicles
- Refinancing an existing auto loan
Refinancing Your Auto Loan
Refinancing allows you to replace your current auto loan with a new one—potentially with:
- A lower interest rate
- A lower monthly payment
- A shorter or longer loan term
What Determines Your Rate?
Your interest rate may depend on:
- Credit score
- Loan term length
- Vehicle age and condition
- Loan amount
Applicants with strong credit profiles typically qualify for the lowest rates.
How Auto Loans Work
An auto loan allows you to borrow money to purchase a vehicle and repay it over time with interest.
Your monthly payment is based on:
- Loan amount
- Interest rate
- Loan term
Rate Discounts
Members who elect Ext. Warranty and Omni+ Protection will receive a rate discount (0.25% each). Members who elect GAP coverage will receive a 0.10% rate discount. Members who refinance an auto loan may also qualify for 90 days with no payments (internal refinances excluded) with a credit score of 660 or higher. All loan types are eligible for .15% for automatic payments or ECCU checking account.
Additional Coverages
- GAP Coverage to protect from negative equity.
Example: Your car is totaled, but your loan is more than the insurance company values it at. GAP coverage pays the difference, so you're not stuck paying for that car. - Extended Warranty for peace of mind from mechanical issues.
Example: A car window motor stops working, or a compressor breaks, or a major engine issue arises. An extended warranty can cover those repairs. - MultiShield to protect from road hazards, like windshield cracks and tire blowouts, and comes with 24/7 roadside protection.
Example: A pothole blows out your tire or damages your wheel. MultiShield covers the replacements and the extra fees such as mounting, balancing, labor and sales tax. - Debt Protection gives peace of mind that you'll make your loan payment, even if something happens to you. This coverage protects your loan against death, disability or involuntary unemployment. Additional coverage can also protect against accidental dismemberment, terminal illness, hospitalization, family medical leave and the loss of life of a dependent. This protections could cancel your loan balance or loan payments.
Financing Process
How to Apply for an Auto Loan
Many applicants receive quick decisions.
- Submit your application online. Online applications are broken down into 3 easy steps for added convenience.
- Get a quick decision from Energy Capital CU.
- Choose your vehicle or refinance your current loan. Search for a new car, check out current car values and get advice for negotiations and more via our Car Buying Center.
- Shop and pay at a dealership with an ECCU Premier Check
- Personalized guidance throughout the process.
Who This Loan Is Best For
An Energy Capital CU Auto Loan ideal if you:
- Are buying a new or used vehicle
- Want to refinance an existing auto loan
- Need flexible terms and competitive rates
- Prefer a simple, fast application process
Insurance Coverage
In addition to financing your vehicle, we can also insure it via Energy Capital Insurance!
Get a free, personalized quote. Work with a single agent that will discuss options and help select the best coverage for you.
- Enjoy the same name brand carriers but with the care and customization of your credit union
- No obligation, free quote
- Bundle multiple policies and save even more
Other Vehicle Loans Available:
Motorcycles, ATVs, Boats, Jet Skis, RV, Travel Trailer, Camper Vans
Embark on your next adventure with confidence. Our range of vehicle loans extends beyond autos to include motorcycles, ATVs, boats, jet skis, RVs, travel trailers, and camper vans. No matter your passion or hobbies, we're here to finance your journey.
We understand that every adventure is unique. This is why our experienced loan team works with you to tailor financing solutions that suit your needs. From hitting the trails on an ATV to cruising the open waters on a boat, we've got the right loan for your recreational pursuits.
- Financing options for a variety of vehicles
- Personalized assistance to match your adventure
- Competitive rates and flexible terms for stress-free financing
Frequently Asked Questions (FAQs)
What credit score do I need for an auto loan?
Credit requirements vary, but higher credit scores generally qualify for lower interest rates and better terms.
Is it better to finance through a credit union or a dealership?
Credit unions often offer lower rates and more flexible terms compared to dealership financing.
Can I get pre-approved for an auto loan?
Yes, pre-approval helps you understand your budget and strengthens your negotiating position when shopping for a vehicle.
Can I refinance my current auto loan?
Yes, ECCU offers refinancing options that may lower your rate or payment.
Can I refinance my auto loan if I have bad credit?
Yes, refinancing may still be possible, though your rate and terms will depend on your credit profile.
When should I refinance my auto loan?
Refinancing may make sense if interest rates have dropped, your credit score has improved, or you want to lower your monthly payment.
How long are loan terms?
Loan terms vary based on the vehicle and loan type.
Are there fees for paying off my auto loan early?
Many credit unions do not charge prepayment penalties, but it’s best to confirm your loan terms.
Do I need a down payment?
A down payment may not be required, depending on your application.
How much should I put down on a car?
A down payment is not always required, but putting money down can reduce your loan amount and monthly payment.
Can I finance a private party vehicle purchase?
Yes, many lenders, including credit unions, allow financing for vehicles purchased from private sellers.
What do I need to complete an application?
Drivers license, paycheck stub, etc.
How long will the application process take?
10-15 minutes to complete.
How fast is approval?
Many applications receive fast decisions, often within the same day.
