If you pass away and your claim is payable, your eligible loan balance is reduced or paid off
If you are disabled due to injury or sickness, after 30 days your loan payments will be paid until you are no longer disabled, your loan is paid off , or you reach the policy maximum.
If your vehicle is stolen, accidently damaged beyond repair, or declared a total loss, GAP will pay the potentially high-cost difference between your insurance settlement and your loan balance. GAP will also give you $1000.00 towards the down payment of your replacement vehicle when you finance the replacement vehicle with Midwest Community Credit Union
within 60 days.
MRI pays for covered repairs(cost of parts and labor) on your vehicle during the life of your loan. MRI also includes 24 hour roadside assistance and more.
|Effective February 2016|
|New & Used Cars, Motorcycles, & Boats (Based on Blue Book Values)|
|2017 (new, never titled)||3.49% APR||60 months|
|4.50% APR||72 months|
|2014 - 2016||3.99%APR||60 months*|
|2010 - 2013||4.50% APR||48 months*|
|2007 - 2009||6.00% APR||36 months*|
|2006 or older||9.25% APR||24 months*|
|Vehicles,motorcycles and boats, the term of the loan may be increased by adding 1% to the APR* for every 6 months. Max of 12 months. Max of 72 months.|
|New - 2015||5.99% APR||60 months|
|Used||6.99% APR||36 months|
Other Recreational Vehicles (ATV's, Snowmobiles, Waver runners, Jet Skies)
|New||5.99% APR||36 months|
|3.49% APR for 66 months|
|5.5 year balloon, 15 year amortization available, can borrow up
to 80% of the assessed value of the home
|9.99% APR 36 months $20,000.00 max (based on 10% of annual gross income)|
|share rate + 4% APR|
|4% APR above the rate of certificate is used as collateral. Rate is charged for length of loan regardless of renewal rate on CD.|