Take a break from paying your auto loan with Evansville Federal Credit Union's Skip-a-Pay!

 

We've all been there... unexpected expenses, school expenses, medical bills, upcoming vacations, shopping for the holidays... it's so nice to be able to relax and enjoy some extra cash in your pocket. With EFCU's Skip-a-Pay, you can postpone your auto loan payment, up to twice a year... and the best part... it won't hurt your credit!

 

How it works: Letters will be sent out to all qualifying members via mail. If you lose your Skip-a-Pay form-don't worry! We will have fillable forms at all 3 of our branches. You must provide a $35 processing fee for each loan you are skipping (ex: if you are eligible to skip two loans, you will need to provide a total of $70 to process). See below for all exclusions and qualification details.

 

To Qualify: Must be due within the month you want to skip. Must have paid no less than 3 full payments in a row.

 

Exclusions and Details: Promotion occurs two times per year- in June/July & November/December. No one is guaranteed a skip- must be approved and eligible. Eligible members will get a skip-a-pay form in the mail, and the members who qualify after the list is generated will be able to fill out a form in-branch. This promotion is not valid on mortgage loans, Share/CD secured loans, VISA/HELOC or business loans. Signatures of all parties must be obtained to be eligible. Must pay $35 processing fee for each loan member is wanting to skip. Form states that skip will take up to 2 weeks to process- if skip is turned in too close to the due date on an auto loan that is set up for automatic payment or an ACH'd payment, there is no guarantee the skip will be processed in time. There is a lifetime limit of 4 skips per eligible loan.

Protect your new vehicle with the right mix of insurance products. They're very affordable and may save you a lot of money (and headache) down the road.

  • Extended Warranty - Don't get caught making expensive repairs on your new and pre-owned vehicles! Many breakdowns occur after the manufacturers warranty expires, so protect yourself from expensive repairs. Call us today for information on this money-saving program.
  • Debt Protection - Unexpected events could leave you scrambling to pay your monthly payments. Debt Protection can help relieve financial pressure in the event of death, disability, or involuntary unemployment. Talk to a loan officer today to add Debt Protection to your loan.
  • Guaranteed Asset Protection Insurance (GAP) - Guaranteed Asset Protection covers the difference between the loan or lease balance and up to 125% of the market value of your vehicle, including up to $1,000 of your insurance deductible, if your vehicle is stolen or totaled. Protect your auto investment by calling a loan officer to sign up for GAP insurance today.

For more information or a quote on our insurance products, click here.

 

TruStage

Did you know that your credit union is the place for car insurance? That's because the TruStage Auto & Home Insurance Program is built on the same foundation as we are: Good rates,excellent service and solid value. With discounts for being a member and easy switching from your existing carrier, it's worth a quick phone call to get a quote*. To get started, just call 1-888-380-9287 or visit TruStageAutoHome.com.

 

TruStage Auto & Home Insurance Program is made available through TruStage Insurance Agency, LLC and issued by leading insurance companies.

AHE, AHL-909133.1-0414-0516

 

*The insurance offered is not a deposit and is not federally insured by NCUA. The insurance is not guaranteed by the credit union nor an obligation of the credit union. The insurance may lose value. 

Zero percent financing offers might sound great, but are they? Not always. If there’s a manufacturer’s rebate, don’t give it up in lieu of zero percent financing. It may cost you more in the long run. Compare the cost of a $20,000 vehicle with a loan term of 36 months:

  EFCU Manufacturer
Interest Rate 4.25% 0%
Manufacturer's Rebate $3,000 none
Amount to Finance $17,000 $20,000
Total Interest Paid in 3 years $1,138 $0
Total Payments $18,138 $20,000
Financing with EFCU saves you... $1,862  
 

And, even if you don’t give up the rebate, it can still cost you. Experts warn that when consumers get good financing - and many believe 0% is the best deal available - they don't negotiate on price. As a result, car payments can be much higher than the budget can bear.

Don't let manufacturer incentives lure you into a trap that leaves you cash-strapped. Call us at 812.424.2621, option 3 to help you sort out your options and figure out the best financing for your car - and your cash flow.