Tax-Deductible Auto Equity Loan

If you're a homeowner, your equity can be a source of low-cost funds for buying a new or used car… usually with a tax deduction!* MCCU's tax-deductible Auto Equity loan offers these benefits:

• NO appraisal or title search fees and NO prepayment penalties- The tax-deductible Auto Equity loan places a courtesy lien on your home as collateral, but without the usual requirements.
  
• FAST ACCESS to funds- Immediately upon loan approval, a standard MCCU auto loan is funded, and a courtesy equity lien is added a few days later.
  
• Low, FIXED interest rates- Enjoy the same affordable rates and convenient financing terms offered by regular MCCU auto loans.
  
• Finance any new or used car, or...
  
• REFINANCE higher-rate car loans from other lenders.
  
• More Buying Power- By using the equity in your home as collateral, you may be able to afford a higher-cost vehicle than with conventional auto financing… and you can arrange pre-approval to help you bargain for a better deal!
  
• Potential Tax Benefits - The interest payments on home equity loans, including those used for vehicle financing, generally are tax-deductible.*

* Whether or not the finance charges are deductible depends on your individual circumstances. We recommend that you consult a tax advisor to verify your eligibility for tax deductions.

Applying is Easy!

- Apply online for a fast response using InstaLoan!

- Print an application and fax it, mail it, or bring it in to a branch!

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