Auto Marketplace
We not only have great auto loan rates — we can also make your auto-buying experience easier. Plus, we offer affordable ways to protect your investment.
Auto Buying Services
Autoland
If you don’t have the time or inclination to visit dealerships all over Southern California, let an Autoland‡ professional search for you.
- Apply for a preapproved Schools Federal Credit Union auto loan.
- Contact Autoland and describe the model, color and options you want.
- Autoland will search its network of dealers to find your vehicle.
- Pick up your vehicle at the nearest Schools Federal Credit Union office.
You can use Autoland online or call 800/ 234-6999 to speak with an Autoland representative.
Enterprise Used Car Sales
Enterprise offers clean, professionally maintained cars, trucks, vans and SUVs from its rental fleet at special prices to credit union members. The vehicles come with a 7-day/1,000 mile buyback policy and 12-month/12,000 mile limited warranty. Shop online‡ Vehicle locator services are provided as a service to members. Schools Federal Credit Union does not endorse nor guarantee their services.
Kelley Blue Book — The Authority
Find out what your trade-in is worth, or how much to sell your old car for. The Kelley Blue Book‡ is the authority on used car values, and provides invaluable information.
CarFax Vehicle History Report
A CarFax‡ Vehicle History Report can help you make an informed decision on any used car you’re thinking about. It will tell you if it’s been in an accident, is a lemon or salvage title, if the odometer’s been rolled back and more. CarFax reports usually cost $14.99 each, but if you finance the vehicle with Schools FCU, we'll pay for the report.
Protect Your Investment
Guaranteed Auto Protection (GAP)
GAP covers the difference between what your insurance pays — usually only the fair market value — and what you still owe if your car is stolen or totaled. Our GAP program also gives you $1,000 toward replacing your vehicle. Purchase GAP when you finance your next vehicle.
Mechanical Breakdown Insurance (MBI)
Our Mechanical Breakdown Insurance provides the same coverage as a dealer’s extended warranty, but at a fraction of the cost. Your premiums can be financed with your loan.
Used Car Buying Tips
Read car and consumer magazine articles comparing performance, maintenance and safety. Call the National Highway Traffic Safety Administration’s Auto Safety Hotline at 800/ 424-9393 to learn about any defects requiring correction, or log on to the Department of Transportation‡ site.
Use an Official Used Car Guide to learn what used cars are worth, and check prices in the classified ads. Also check the Kelley Blue Book‡ value, and expect to pay somewhere between the wholesale and retail book value.
Look For The “Buyers Guide” sticker
If you’re buying from a dealer, check the "Buyers Guide" sticker on the car window. It describes the exact terms of the dealer warranty. "Implied warranties only" means that the car is covered by state implied warranty laws. If the sticker says "as is," any future repairs will be your responsibility.
Private sales generally are not covered by state implied warranty laws, so any sale would be on an "as is" basis.
Give It The Once Over
While looking the car over, ask yourself:
- Is it level with the ground, or could there be a broken spring? Do the body parts fit together evenly?
- Is the paint job even? Is it too new given the age of the car? Is there overspray on the rubber trim? Are there lumps or irregularities on the body panels?
- Are the wheels out of line with the body? Do the tires show signs of heavy wear? If the odometer reads in the neighborhood of 24,000 miles, the tires should be original and have the same tread design. Does one of the tires show excessive wear? Poor alignment may be the cause.
- Is the engine clean? An oily engine block may point to a leaky gasket.
- Compare the odometer reading with the mileage on the lubrication stickers, usually on the underside of the hood or on the inside door panel. Was it serviced frequently by the last owner?
Behind The Wheel
Take a test drive through a variety of traffic conditions. If the steering has more than two inches of play, or the brakes go almost to the floor, there could be a problem.
Next, evaluate overall comfort and practicality. For example, long-distance drivers will want to check for lower back and thigh support. Finally, listen to the car. Pay particular attention to engine knocks and creaks.
If it is winter, you will naturally try the heat and defroster. But don’t forget the air conditioning! You don’t want to learn six months from now that your air conditioning is faulty.
Take The Car To A Mechanic
Ask a trusted mechanic to give the car a check-up, noting any necessary repairs. How much will it cost to have them done? Generally, if the car is unsafe without the repairs, the seller should pay for them.
Lastly, think about financing. If you’re a homeowner, consider our Auto Equity Loan. Since it’s secured by a courtesy lien on your home, your interest may be tax-deductible. Consult your tax advisor to be sure.
