Auto Loans

New automobiles or used, you will find us competitive with any other financial institution.

For New Cars, we will lend up to 110% of the MSRP for a maximum of 84 months. Program cars are treated as new cars as long as the new car warranty is available.

For Used Cars,  we lend according to the NADA retail value. We subscribe to the NADA automobile valuation system and will be happy to supply you with average retail and trade-in costs of a vehicle that you are interested in.

GAP & Mechanical Breakdown Protection:

River Valley Credit Union offers Guaranteed Asset Protection (GAP) and Mechanical Breakdown Protection (MBP) for your vehicle. Both products can be essential to a successful auto loan and at River Valley we can offer them to our members at affordable prices.

What is GAP?

Guaranteed Asset Protection (GAP) can cover the “gap” between the vehicle’s value and the amount you still owe on your loan in the event that the vehicle is either totaled in an accident or stolen. River Valley’s GAP also offers the GAP Advantage, which not only pays the difference between the vehicle’s value and the balance of the loan owed in the event of a total loss, but will also cover your insurance deductible and give you $1,000 towards the purchase of a replacement vehicle when you come back to the Credit Union to finance it.

What is MBP?

Mechanical Breakdown Protection (MBP), offered by Route 66 Extended Warranty, is a complete line of coverage designed to keep your vehicle on the road. No matter where you travel in the United States, MBP can protect you against major mechanical expenses, and there is no deductible on covered parts and labor.

All of the extended warranty plans come with: Rental Car Allowance and 24 hour/7 days a week Emergency Roadside Service including:

  • Towing
  • Flat Tire Assistance
  • Battery Jump Starting
  • Lock-out Service
  • and minor adjustments.

If you would like more information or to add GAP or MBP to your new or existing auto loan please contact a member of River Valley’s Consumer Loan Department at 800-728-5871.