Vehicle Equity Loan

Vehicle Equity Loan

Did you know that you can use the equity in your home to finance your next new or used vehicle?

It’s called a Vehicle/Equity Loan and here is how it works:

  • You need to be a homeowner.
  • You need to have enough equity in your home to cover the value of the vehicle.
  • We use the vehicle as collateral so this is a vehicle loan.
  • We record a mortgage on your home, where the interest on the loan may be tax deductible.*
  • For you, this means additional savings at tax time by claiming the interest.*

Contact a Fox Communities CU experienced lender to get the process moving!

ADDITIONAL OPTIONS FOR YOU TO THINK ABOUT WITH YOUR LOAN AT FOX:

Mechanical Breakdown Protection

An extended warranty that will protect you against unexpected vehicle repairs:

  • Nationwide protection.
  • Transferable coverage if you sell your vehicle.
  • 24-hour roadside assistance.
  • Four protection plans to choose from.

Guaranteed Asset Protection (GAP)

Most insurance policies only cover the value of your vehicle. Your loan balance could be higher than the value. Guaranteed Asset Protection (GAP) is a non-insurance product that cover the “gap” between your vehicle’s value and the amount you still owe. GAP coverage will help you if your vehicle is stolen and isn’t recovered, or is totaled in an accident and can’t be repaired. Included in this difference is your insurance deductible up to $1,000.00. GAP is available on autos, boats, motorcycles, or RVs. There is a cost for this protection. Talk to a lender about GAP today.

Fox Debt Protection

  • For a minimal cost, this eases your loan payments in case of death, disability, or involuntary unemployment.
  • Protects your family.
  • Safeguards your credit rating.
  • No obligation for 30 days.
  • Many options to choose from – customize to fit your needs.

 

*Check with your tax adviser for tax deductibility.

Additional Banking Resources

APPLY FOR A LOAN

GET STARTED

ATM/BRANCH LOCATOR

CONTACT US

CLICK HERE

Attention

You are about to leave Fox Communities Credit Union's Website

Any external site listed here is not under the control of Fox Communities Credit Union, and The Credit Union makes no representation concerning the content of this site, nor does a link serve as an endorsement by Fox Communities Credit Union of any site. Fox Communities CU does not represent either the third party or the member if the two enter into a transaction.

Please note that when you exit our site, our Privacy Policy is no longer in effect. Privacy and security policies may differ from those practiced by the Credit Union.

Thank you for visiting. Please return when you need information about Fox Communities CU's products and services.

CONTINUE

Attention

You are about to leave Fox Communities Credit Union's website. Any external site listed here is not under the control of Fox Communities Credit Union. Thank you for visiting. Please return when you need information about Fox Communities CU's products and services.

CONTINUE