Lending
Our auto lending process is based on flexible underwriting, reduced documentation and great rates! Chicago Patrolmen's can refinance up to 100% of your next car at competitive rates and terms.The Chicago Patrolmen's Federal Credit Union also offers Motorcycle and Boat Loans. To inquire about any of our loan products, please contact our Lending Department at 312-726-8814.
Guaranteed Asset Protection (GAP) Coverage
Vehicle prices continue to increase. At the same time, many borrowers want longer loan terms and are making smaller down payments. For these reasons it's typical for a vehicle's outstanding loan balance to be significantly higher than its actual cash value, especially during the first few years of the loan.
If your vehicle is totaled or stolen, your insurance settlement will based on the vehicle's actual cash value, not the outstanding loan balance. This may create a deficiency balance or "gap". You could be stuck paying hundreds - or even thousands - of dollars out of your own pocket to pay off the deficiency balance.
Now you can protect your vehicle and motorcycle investment with Guaranteed Asset Protection (GAP). GAP is designed to eliminate your unpaid net loan/lease balance in the event your vehicle is stolen or damaged beyond repair (totaled).
To learn more about GAP, please contact the loan department at 312-726-8814 and ask to speak to a Branch Representative.
Guaranteed Asset Protection (GAP) Informational Brochure - English
Mechanical Breakdown Protection (MBP) Informational Brochure - English
Guaranteed Asset Protection (GAP) Informational Brochure - Spanish
Mechanical Breakdown Protection (MBP) Informational Brochure - Spanish
To apply for an Auto Loan - Click Here
