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Auto Loans

Are you ready to purchase a new vehicle, but not quite sure where to start?

At People’s we get a lot of questions from members looking for financial guidance. We’ve compiled the most common questions about auto loans and refinancing your vehicle for your reference.

If you need help navigating these big decisions, click the button below to speak to our member services representatives.

Buying a New Car or Refinancing Your Vehicle?

Five Convenient Branches: Hazel Dell | Battle Ground | Fisher’s Landing | Vancouver Waterfront | Ridgefield

Purchasing a new car or truck is a big decision, but it doesn’t have to be daunting if you are equipped with the right information. When it’s time to look into your financial options for buying a new car, we can help answer your questions so you’re prepared before you go to the dealership. And if you’re ready to refinance your vehicle for lower payments or a better interest rate, we’ve got you covered, too. Browse our FAQs below to get answers to our most commonly asked questions!

Car Buying Tips

Guaranteed Auto Protection (GAP) covers that gap between the amount your car is worth (insurance settlement) and the amount you still owe in the event that your car is totaled or stolen and unrecovered.

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Mechanical Breakdown Insurance (MBI) covers car repairs that are unrelated to an accident, much like an extended warranty.

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Yes, you can get an auto loan without credit. Some lenders and car dealers provide loans for people with no credit but it will depend on various factors.

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  • Go through a credit union
  • Get a cosigner
  • Make a down payment
  • Have a steady source of income

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Auto Loan Resources

  1. Establish a Budget
  2. Get Pre-approved
  3. Do Your Research
  4. Take a Test Drive
  5. Negotiate – Determine the Right Place
  6. Read the Contract Carefully

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Advantages of Buying a Used Car

  • Cost savings
  • Less depreciation
  • Faster payoff
  • Lower insurance premiums

Disadvantages of Buying a Used Car

  • More wear and tear
  • Most don’t come with warranties
  • Higher mileage
  • Possibility of being stuck with a lemon

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Yes, you can trade in a car before the loan is paid off. In fact, it’s very common. However, if you have negative equity on your vehicle, you could end up with much higher payments and refinancing may be a better option.

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Forced-placed insurance is an insurance policy lenders force the borrower to pay for to protect their property in the event the borrower drops their insurance coverage or fails to provide proof of insurance. 

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If you’re caught driving without car insurance, you may have to pay fines or your license could get suspended.

If you cause a car accident and do not have insurance, the other driver can sue you for their damage costs and personal injury costs.

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A great auto loan can save you hundreds, if not thousands of dollars when buying a car. But, in order to find a good car loan, you’ll need to know how to compare your options.

One of the most important factors to consider is the Annual Percentage Rate, or APR. Learn about what APR means when buying a car.

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Auto Loan Calculators

Our financial experts have compiled tools to help you calculate everything you need related to taking out a new car loan or refinancing your vehicle.

Apply for an Auto Loan

Whether you’re opening a new auto loan or transferring an existing loan, we have you covered with competitive rates and flexible payment plans.

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Everything you need to find, purchase, and finance a vehicle.

Auto Solution

Auto-Buying made easy!

Auto Solution is dedicated to serving credit union members of the Northwest with their auto buying needs.  Through Auto Solution, People’s provides you a hassle-free car buying experience.

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Enterprise Car Sales 

Haggle-Free Buying, Worry-Free Ownership. For more than 40 years, Enterprise has been selling cars only one way: they select great cars – most from their fleet of more than 700,000 vehicles – offer them at competitive prices, and back each one with one of the industry’s best used car warranties.

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NADA Vehicle Pricing & Information

Know the real price before you buy. You’ll be better equipped in buying a car if you know the true value or cost of the vehicles you consider. NADA can provide you with the information you need to negotiate a great price on your next new or used car.

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Don’t run the risk of buying used cars with costly hidden problems.

Get a detailed vehicle history report from CARFAX’s nationwide database. Additional charges will apply.

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At People’s, All Members Get the Same Rate

People’s provides members with access to affordable credit through low-rate loans. What sets our credit union apart is that all members pay the same rate, no matter their credit score or amount in their account. We are here to help you with your financial needs.

Five Locations in Vancouver WA

Hazel Dell
7403 NE Hazel Dell Ave
Vancouver, WA 98665

Battle Ground
121 NW 20th Ave
Battle Ground WA 98604

Vancouver Waterfront
701 W Columbia Way
Vancouver WA 98660

109 S. 65th Ave, Suite 102
Ridgefield, WA 98642

Fisher’s Landing
16211 SE 12th Street
Vancouver WA 98683

Auto Loans in Vancouver WA

5 Local Branches Serving Greater Vancouver WA:

Vancouver Waterfront | Fishers Landing | Hazel Dell | Battle Ground | Ridgefield | Salmon Creek | Orchards | Minnehaha | Walnut Grove | Hockinson | Baker | Sara | Felida | Cascade Park East