Buy new, buy used or refinance
Whether you’re just browsing or you’re in need of something right away, buying a new automobile is a big commitment.
With great rates and quick online approvals, we can help get you into the car of your dreams — or refinance your current one — on your timeline.
Benefits of an OCCU auto loan
- Members enjoy rates as low as 6.49% APR for purchase or refinance14
- Preapproval online or in-branch
- In-house Insurance Services team to help you find coverage and discounts
- Guaranteed Asset Protection (GAP) available
- Local, friendly, personal member support available in-branch, by phone or online
Shop locally online, finance locally with us
With AutoSMART you can compare cars from local dealerships of all makes and models. Then get preapproved for an OCCU auto loan and one step closer to hitting the road in your new (or new-to-you) car!
With preapproved financing, you’ll know just how much car you can afford and what your monthly payments will be. Apply online or visit our branch locations in Eugene/Springfield, Bend/Redmond, Salem/Keizer, Corvallis, Roseburg, Junction City and Cottage Grove — with more on the way! (Road trip, anyone?)
If you opt to shop around and find financing at the dealership, be sure to request OCCU. Most dealerships have access to a network of credit unions (known as CUDL — credit union direct lending). Let them know you want to finance your new car with OCCU.
Need insurance for your new car or truck? We got you covered.
OCCU offers Guaranteed Asset Protection (GAP) for every auto and RV loan. If something unfortunate happens to your new car or RV within the first years of ownership, you can easily find yourself owing more than the car or RV is worth. GAP protects you from the unexpected.
And for vehicle insurance and beyond, our Insurance Services team is here to find the coverage you need to feel secure on the road. With more than 100 years of experience and partnerships with local insurance companies, our team will help you make sure you’re covered.
What’s next?
Use our loan calculator to build a budget.
Search our local dealership partners with AutoSMART to find the right new or used vehicle.
Connect with our Insurance Services team to get the coverage you need.
FAQs
How competitive are OCCU’s car loan rates?
Credit unions typically offer better rates than traditional banks, and OCCU is no exception. We offer some of the best loan rates for cars and trucks. Apply to get preapproved for a car loan or just ask for an OCCU auto loan at the dealership.
How much can I afford to spend on a car or truck?
Use our loan payment calculator to help you budget for your next new or preowned car or truck. Calculate the payment on your next ride or enter your target monthly payment and see how much you may be able to borrow.
How long does it take to get approved?
Apply online and get your preapproval the next business day. Or just go to the dealership and ask for an OCCU car loan.
Can I get an OCCU loan at the dealership?
Yes! You can get OCCU’s best auto loan rates at dealerships across Oregon and Washington. Search our local dealership partners with AutoSMART to find the right vehicle for you. Then just ask the dealer for an OCCU car loan for our best rates.
What is the difference between getting a car loan from OCCU or a dealership?
Nothing. You can get our great auto loan rates online, in-branch or by asking for them at the car dealership.
Are there any prepayment penalties?
We have no prepayment penalties. If you want to pay off the loan on your car or truck faster, go for it!
Can I refinance my car loan later if I get a better interest rate?
Yes. If you’re looking to save money on an existing loan or looking to access the equity in your car or truck, we can help you refinance.
Does OCCU provide payment or loss-of-vehicle protection?
Yes!
OCCU offers Guaranteed Asset Protection (GAP) on car and truck loans. When you finance with OCCU, you can easily add GAP to your loan, with the option to pay either a one-time fee or roll the cost into your principal loan balance.
Major Mechanical Protection can help you feel more secure when faced with unexpected auto repairs. It's available on any vehicle, whether it’s financed through us, another institution, or owned outright.
Do you have a "Skip-a-Payment" option?
Yes. OCCU’s Skip-a-Pay program can give you a break from car and truck loan payments for up to two months if you have an eligible loan with us.
Keep in mind, skipped payments can affect payment protection and GAP coverage.
Is it better to get preapproved for an auto loan before going to the dealership?
Having an auto loan preapproval in your pocket can help strengthen your bargaining position at the dealership. It also helps you stay within your budget, since you’ll know how much you’re approved for and what your interest rate will be before you set foot on the car lot. But it’s not a requirement.
Can I use this loan to buy a car or truck from a private seller or only from a dealership?
Yes, you can get an OCCU vehicle loan to purchase from a private seller.
How do I get OCCU's lowest loan rate?
OCCU offers some of the best loan rates for both new and used cars or trucks. And by signing up for eStatements and enrolling in automatic loan payments, you’re assured the best rate.
Why should I refinance my car?
When conditions are right, refinancing could mean saving money and paying off your auto loan sooner.
When to consider refinancing your car or truck:
- If rates are lower than they were when you took out the vehicle loan. Refinancing when rates are low is a smart financial move if the potential savings outweigh the loan fees. Use our loan calculator to estimate how much even a 1% difference could save you.
- If your credit has improved. Since your credit rating is one of the factors that determine your interest rate, a bump in your credit score could qualify you for better auto loan terms.
- If you have a longer-term vehicle loan. Many car buyers opt to lower their monthly payment by extending the life of their loan. The downside is that they end up paying more interest in the long run. If you chose a longer loan term because it made sense at the time, consider whether that’s still true today. Refinancing your loan at a lower rate could allow you to shorten your term without significantly increasing your monthly car payment.