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Auto Loans

Ready to buy a new or used car or truck? Get pre-qualified for an auto loan at Straits Area Federal Credit Union and shop with confidence. Know your budget, lock in a great rate, and enjoy a faster, easier car-buying experience.

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Application

Fill out your application online today!

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Coverage Options

Options that protect your loan and your finances.

Rec Vehicles

Easy and affordable options for financing your next adventure!

Auto Loans

Ready to buy a new or used car or truck? Get pre-qualified for an auto loan at Straits Area Federal Credit Union and shop with confidence. Know your budget, lock in a great rate, and enjoy a faster, easier car-buying experience.

Low Rates – Competitive auto loan rates that can save you money
Fast Pre-Approval – Know what you can afford before visiting the dealership
Flexible Options – We work with all credit types
Local Service – Serving Cheboygan, Indian River & Mackinaw City

Get started online or visit us today. Your road to a better car loan starts here.

Woman sitting in driver's seat of a blue sedan holding her hand out of the open window to be handed the keys to the car.
Straits Advantage

Get the best of both worlds with Straits Advantage—our smart auto loan that offers lower monthly payments like a lease, but with the freedom of ownership. Whether you're buying new or used (up to five model years), you'll enjoy flexible terms, multiple end-of-loan options, and all the perks of driving your own vehicle. It could be your low-payment path to vehicle ownership.

Woman wearing sunglasses leaning out of car window with car keys in her hand.
Traditional Financing

With a traditional auto loan from Straits Area Federal Credit Union, you get flexible terms, competitive rates, and no mileage limitations or end-of-term decisions. Whether you're buying new or used, it's easy to drive away with a loan that fits your budget and your lifestyle.

Coverage Options

GAP Insurance

GAP Plus with Deductible Assistance—essential financial protection on your vehicle loan that helps you drive with confidence. Talk to us today about how we can help protect you from sudden out-of-pocket expenses.

Someone speaking to a doctor. Neither person's face is visible, but you can see that one is wearing a white coat and stethoscope. That person is pointing out information on a clipboard.
Credit Life & Disability Insurance

When your family experiences a hardship, the last thing they need is additional worry about how to pay your debts. Credit Life and Credit Disability Insurance could make your loan payments in the event of a covered disability or even your death. Ask us about loan coverage options that have no long-term commitment and are conveniently added to your monthly loan payment.

Straits Area FCU offers value added products like GAP Plus and Credit Life and Disability Insurance to help protect your investment.

Coverage options that protect your vehicle loan – and your finances.
GAP: May reduce or even eliminate the shortfall between what your vehicle insurance will cover and what
you owe on your loan if your vehicle is deemed a total loss.
GAP Plus: Can help reduce your next loan at the credit union, making it easier to get the replacement
vehicle you’ll need.
Deductible Assistance: Designed to provide financial relief when your vehicle is damaged, but not deemed
a total loss. If auto repairs cost more than your deductible, the deductible amount is applied to your loan,
reducing what you owe.

When your family experiences a hardship, the last thing they need is additional worry about how to pay your debts.

Credit Disability and Credit Life Insurance could make your loan payments in the event of a covered disability or even your death.

Financial coverage designed to fit your needs:
• No medical exam required to apply
• Customizable options for your needs and budget
• Premium included in your loan payment
• Allows you to cancel at any time
• Will not impact your loan terms or approval
Call to Action:
Enjoy the security that could come with being covered. Ask Straits Area FCU about Credit Disability and Credit Life Insurance today.

Rec Vehicle Loans

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ATVs & Side by Sides

Don't get left in the dust! Hit the trails with financing that keeps up with the competition.

Motorcycles

New ride, great payment.

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Boats

Low rates, smooth sailing.

An RV camper pulled over at the side of a road. Two people sit on the roof looking out over a nearby lake.
Campers

Get rolling for your next getaway.

Two people riding a snowmobile, a man in front driving and a woman sitting behind him. Both are dressed in snow gear. The man is pointing out something ahead.
Snowmobiles

Financing built for winter fun.

A silver extended cab truck pulling an enclosed trailer down the road. There is flat prairie land surrounding and it is sunset.
Trailers

Hassle-free trailer financing.

At Straits Area Federal Credit Union, we make it easy (and affordable!) to finance your next outdoor adventure. Whether you’re shopping for an ATV, snowmobile, boat, or trailer, our low loan rates and flexible terms are designed to help you enjoy everything Northern Michigan has to offer.

The Cheboygan area is a playground for outdoor lovers, with trails, lakes, rivers, and wide-open spaces just waiting to be explored. We’re here to help you get out there with financing that fits your budget and lifestyle.

Why finance with Straits Area FCU?

  • Competitive rates that help you save

  • Easy, local lending with personal service

  • Quick pre-approvals so you can shop with confidence

Ready to upgrade your gear or replace old equipment? Get pre-qualified today and shop with peace of mind knowing you’ve got a loan that works for you.

Stop by one of our convenient locations in Cheboygan, Indian River, or Mackinaw City, or apply online anytime.

Loan Rates

Rates Effective May 18, 2025

 

Type Rate Term
New Auto As low as 6.75% APR* As long as 108 Months
Used Auto As low as 7.50% APR* As long as 108 Months
New Rec Vehicle As low as 7.25% APR* As long as 180 Months
Used Rec Vehicle As low as 7.25% APR* As long as 180 Months
Debt Consolidation As low as 9.50% APR*
Personal As Low As 9.50% APR
Share Secured 3.00% above the highest savings interest rate. 1-120 Months

* APR is the Annual Percentage Rate.   All rates are subject to change by the Board of Directors, and rates may vary based on the term you select and your credit standing.  Current loan rates are within the ranges shown.  Adjustments within the ranges are made for certain factors such as credit worthiness, account relationships, loan types and loan value ratios.  Please contact our loan department for more details.