April 29th, 2014

Seven Things You May Not Know About Seattle Metropolitan Auto Loans

You already know that Seattle Metropolitan Credit Union offers low rates on auto loans and that our loan experts work with every member to find the right loan for them. Those aren’t the only great things about our auto loan program.

Here are seven awesome features of our auto loans you might not know about.

  1. Autoland Auto-Buying Service

    Do your car shopping where you get your loan. We’ve partnered with Autoland, the premier auto-buying service for credit-union members. They’ll help you research the car you want. Then they’ll work with their network of dealers to find it and negotiate on your behalf to get you the best price. You can roll the cost of the service into your loan, so you pay no money out of pocket, and they’ll deliver your new car to you at any Seattle Metropolitan branch.

  2. Hybrid/Electric Vehicle Rate Discount

    Whether it’s because of their gas-sipping efficiency or their almost negligible emissions, more and more people are looking at hybrid and electric vehicles. They can be a responsible choice when you’re trying to minimize your impact on the planet. They also qualify for a rate discount of .25% when you finance your loan at Seattle Metropolitan.

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  3. Sign your loan documents by email

    You research your car and apply for your loan online. Why not sign your loan agreements that way too? Seattle Metropolitan has partnered with electronic document specialists Docusign to allow you to view and sign your loan documents as easily as getting an email. It’s quick, easy, and secure. And, you don’t have to plan a special trip to the branch.

  4. First payment not due for 90 days and you can choose your own due date.

    Once you’ve signed your loan documents, take a vacation – from your car payment. Your new loan payment won’t be due for up to 90 days. That’s as many as three months of car payments that you can use to pay bills, throw into your savings, or even have a weekend away.

    Plus, you get to pick the day of your payment due date, so you can better manage your monthly cash flow.

  5. Anytime Skip-a-Pay

    If you have an auto loan with Seattle Metropolitan, you can elect to skip up to two payments every twelve months. Just pay a nominal skip fee of $29 and your due date gets moved back one month1. That can give you a bit of extra money for emergency expenses or whatever you want to use it for.

  6. Debt Protection

    If you are sick or injured and can’t work, Debt Protection will make your payments until you’re able to return to your job. If the unthinkable happens and your family is left with a loan after you’re gone, Debt Protection will pay the balance giving them one less thing to worry about.

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  8. GAP/Mechanical Breakdown Protection

    Protect your car and your wallet with Mechanical Breakdown Protection (MBP) and Guaranteed Asset Protection (GAP). Mechanical Breakdown Protection (sometimes called an extended warranty) can help you deal with damages and repairs not covered by the original manufacturer’s warranty. All you have to do is get the repairs approved and take your car to a licensed repair shop. MBP will even pay the bills directly, so you don’t have to sit around waiting for a reimbursement.

    GAP helps cover the difference between what you owe and any insurance settlement you receive in the event your car is totaled or stolen. Since cars lose a lot of their initial value as soon as they drive off the lot, the difference can be substantial, especially toward the beginning of your loan. GAP helps make sure that you aren’t left holding the bag if something happens to your car.

    Get your GAP and MBP from Seattle Metropolitan Credit Union, and you can save hundreds or even thousands of dollars versus buying them from the dealer.

When you get an auto loan from Seattle Metropolitan, you also get a package of great features that can save you time, money, and frustration. If you are in the market for a new car or looking to refinance an existing auto loan, talk to Seattle Metropolitan Credit Union.

1See Skip-a-Pay eligibility requirements, details, and disclosures at http://smcu.com/skip-a-pay.

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