Woman happy in her car

This is your best new and used car loan option

"every car loan that I have had with them has been easy and stress free." - Larry B.

WHY DO I NEED TO GET PRE-APPROVED?


Well, the truth is you don’t need to. But it might be your best play because:

  • Car icon

    You'll know how much car you can afford

    Don’t waste time shopping for cars you’re not sure you can buy.  With a pre-approval you’ll know exactly how much you can spend.
  • Pre-approval letter

    You'll spend less time at the dealer

    Found your car? Just present your pre-approval to the dealer and they’ll handle the rest for you.
  • Rate lock

    You've got a rate lock for 45 days

    Take the time you need to find the car you love. Your pre-approved rate is guaranteed for 45 days.
  • Calendar icon

    Your term is flexible

    With terms from 1 month to 84 months, you can pick the payoff timeframe that works for you.

HERE’S HOW SIMPLE YOUR CAR LOAN CAN BE

  1. 1

    Apply

    Apply online in as little as 5 minutes
  2. 2

    Shop

    Shop with your pre-approval certification
  3. 3

    Relax

    Relax – your rate is locked for 45 days for stress-free shopping
  4. 4

    Pay

    Pay online with Online Banking or the MHV Mobile App. Or visit any Branch Location.
  5. 5

    Manage

    Access free financial education to help manage your loan.

Professional, Competent Assistance

  • Thank you to the staff at MHVFCU for their professional and competent assistance with my loan process.
    Angel M.
  • Bonnie made the entire loan experience simple and she was very accommodating. We were able to handle everything virtually and now we’re members at MHV.
    Francis M.
  • I’ve been working with Adam Shapiro for the past few days discussing about getting an auto loan done. Great guy! He was very helpful and patient with me and taking me through the steps of the process.
    Shareef Z.

SHOULD I GET PRE-APPROVED FOR A NEW OR USED CAR?


OK, so pre-approval is great. But the big question remains: should you buy a new or used car? Like so many things in life, it depends. There are pros and cons to both – and you need to weigh them both to make the best decision for you.

Pros of New

  • Typically covered by warranty
  • Include the latest technology and features
  • Allow for a wide selection of trim levels, colors, and features

Cons of New

  • More expensive
  • Depreciate instantly

New vs used car

Pros of Used

  • More affordable
  • Avoid rapid depreciation
  • Lower insurance costs
  • Typically inspected and certified

Cons of Used

  • Unknown vehicle history
  • Potentially higher maintenance costs

New? Used? Here's some help.

Here’s your best 2-minute breakdown of buying new vs used.

“I WANT THIS TO BE AS EASY AS POSSIBLE”

Autosmart gif

Remember driving around to dealerships? Save your Saturdays and shop for your next car from home with AutoSmart.

 Apply for your pre-approval 

Research safety features and incentives          

 Build your ideal car and contact dealers directly, or 

Browse local dealership inventory according to the exact make, model, color, and mileage you want


*APR = Annual Percentage Rate.  Rates effective 11/24/2023.  All rates as low as: Rates are based on credit ratings, term of loan and in some cases year of vehicle.  Rates reflect a .25% discount for automatic payments from your MHV checking or savings. Discount excludes leases and other select products. Your rate may vary.  Rates are subject to change.  All loans subject to approval. For example: 36 monthly payments of $30.69 per $1,000 borrowed at 6.59%. Federally Insured by NCUA.