Recreational Loans

It takes less than ten minutes to apply for a boat, motorcycle or RV loan. In most cases, you will receive an answer within 24 hours regarding the status of your loan. It can sometimes take a bit longer depending on your credit profile or if additional information is required.

Yes. In fact, we recommend you get pre-approved for your boat, motorcycle or RV loan. Getting pre-approved helps you shop with confidence knowing you are getting the best deal for your loan and protects you from sneaky dealership financing tricks that can cost you thousands of dollars. 

Guaranteed Asset Protection (GAP) is offered for Auto and Motorcycle. GAP pays the difference between what you owe on your vehicle and what your insurance company establishes as cash or market value up to the maximum LTV%.

Currently, Guaranteed Asset protection is offered to TFCU members for as low as $610. Dealers may charge up to $800.  

Auto Deductible Reimbursement (ADR) is also included with the purchase of GAP insurance!

If you suffer a loss during the benefit period which is covered by your Auto Insurance Policy, you may be entitled to reimbursement of the Auto Insurance Policy deductible amount up to $500 per Loss.

The ADR coverage applies not only to the vehicle that the GAP policy was purchased on, but also any other automobile that is titled and insured by the member who purchased the GAP policy

• Pays up to $500 per loss (UNLIMITED losses per year) when a Loss is filed and paid by the auto insurance company for a Covered Auto the Member owns or leases evidenced by the title, registration or loan document, AND insured under an Auto Insurance Policy designating the Member as the Named Insured.

• Loss means an event for which the auto insurance company has approved and paid a collision or comprehensive claim which exceeds the Auto Insurance Policy deductible for the Covered Auto

• Coverage is effective upon date of enrollment and will continue for 3 year(s) depending on the benefit period provided.

This summary is a brief overview of the program and is not to be considered a full disclosure of policy terms. Please refer to the Terms and Conditions for complete forms, conditions, limitations, definitions, and exclusions.

Easy to Purchase
GAP can be included in the amount financed with the loan. Coverage takes effect immediately upon loan dispersal.

60-day Free Look
You may examine your GAP policy for 60 days. If you are not satisfied you may cancel GAP by returning the waiver within the first 60 days of coverage for a full refund of any premiums or amount you have paid.

Mechanical Breakdown Protection offered for Auto and Motorcycle.

Your vehicle is a major investment. That is why purchasing mechanical breakdown protection (MBP) is a wise choice. MBP can help ensure that the investment in your vehicle is protected, and reduces the possibility of out-of-pocket expenses when your vehicle suffers an unexpected mechanical failure. Most important of all, Mechanical Breakdown Protection provides Peace of Mind so you can experience Worry-Free Driving!

Money Back Guarantee!
You may cancel anytime during the first 60 days, contingent on a claim not being filed, and get a 100% refund.

Features and Benefits

• Nationwide Protection

• 24-Hour Roadside Assistance for the term of your coverage

• Rental Vehicle Assistance

• Transferable Coverage if you sell your vehicle before your agreement expires

• Learn More about MBP Features & Benefits

The Cost of Repairs

Did you know that one in three vehicles experience a mechanical failure in a given year?
The typical extended warranty owner will make several claims during the life of their contract. Should your vehicle experience a failure after the manufacturer's warranty expires, without an extended warranty you will have no protection from the unexpected repair costs that can be in the thousands of dollars!

Vehicles today are growing extremely complex and contain high-tech sensors, electronics and computers that suffer unexpected failure and need to be replaced. While engines and transmissions are more reliable than ever, it's these other sophisticated parts that frequently fail. As vehicles become increasingly more complex, associated repair costs rise dramatically!

Yes. Payment Protection is available. There are two types of Payment Protection:

1. Credit Life Insurance pays off or reduces a borrower's loan balance if the borrower dies. Joint Credit Life Insurance protects both a borrower and co-borrower if both are named on the loan application and are jointly and individually liable under the loan.

2. Credit Disability Insurance is designed to make loan payments (up to the contract limit) if the insured becomes disabled and unable to work. Joint credit disability coverage is only available in certain states.

Payment Protection Features Include:

• Maximum loan terms and loan balance (for credit life) and contract limit (for credit disability) vary by financial institution and may vary by state. Check your Payment Protection plan parameters for specific details on your plan.

• A medical exam is usually not required although general health questions may be asked.

• Single and joint coverage is available in all states for credit life insurance. Single coverage is also available in all states for credit disability insurance. Check your Payment Protection plan parameters for the availability of joint credit disability coverage in your state.

• Premiums are regulated by each state and generally result in reasonable monthly premiums.

• Application is usually done at time of loan application and the monthly premium is typically included in the monthly loan payment for added convenience.

• Refer to your financial institution's Payment Protection application/certificate or Product Reference Card for details regarding eligibility requirements.

Payment Protection Benefits Include:

• Protects financial security and credit rating: Credit disability insurance protects a borrower's credit rating by ensuring the loan will not end up in default in the event of disability.

• Reduced financial burden: Protects borrowers and their families from financial hardships as a result of loss of income caused by death, illness or injury.

• Protects borrower assets: Allows borrowers and families to retain their assets, including the collateral and savings, when an income is interrupted during unfortunate circumstances.

• Convenient: A short application makes it is easy to apply at time of loan application or loan closing. The monthly premium is included in the loan payment.

• No Obligation for 30 Days: If the borrower decides the plan is not what they need, they can cancel it within 30 days without obligation. Rarely does this occur, but borrowers appreciate knowing that they have this option.