Auto Loans
Are you thinking about buying a car? It's a rewarding experience but can be confusing, too. Before you make a purchase, make sure you've done your homework. Coastal offers tools to help you make the right purchase, plus you can get Coastal's same great rates and terms on your Auto loan right at the dealership. One stop shopping!
- Features
Before you get your Coastal Auto Loan right at the dealer, visit our AutoSMART Web site to locate a participating dealer, search inventory, and more!
Visit our AutoSMART Web site to:
- Locate a participating dealer
- Build your own virtual vehicle (view a 360 degree angle of the interior & exterior)
- Contact a participating dealer and request a quote
- Research & compare new & used vehicles
- Get vehicle reviews
- Get Information on auto buying related topics
One last thing - don't forget about the insurance! When you estimate how much you will be able to make in monthly payments for a new car, factor in how much insurance will cost for the car you want. Not sure? Get a free quote from Coastal Members Insurance.
- Essential Add-ons
- Tax Advantage Loan
Use the equity you have in your home to purchase a vehicle at a great rate and possibly deduct the interest you pay on the loan from your taxes. They are available on both new and used vehicles.
A Tax Advantage Auto loan from Coastal may allow you to deduct your auto loan interest payments. This can result in significant savings compared to a regular auto loan, which does not allow the deductibility of loan interest. If applicable (check with your tax advisor), the deductibility of loan interest payments tends to lower the effective annual percentage rate you are paying.
Apply for a Tax Advantage Auto Loan
To apply for this type of loan, simply call our 24 Hour Lending Center at (800) 868-4262 option 1.
Once you're approved, tell the loan officer that you're referred to, that you'd like a Tax Advantage Auto loan.
Then, we'll need the following:
- A completed Property Value Estimate form
- A copy of the Warranty Deed for the property being used as the secondary source of collateral
Once it is determined (which the loan officer will determine based upon the Property Value Estimate), that the property can be used to qualify the loan as Tax Advantage; the loan officer will draw up necessary paperwork and Deed of Trust, and will arrange a date and time with you for closing on the loan.
On the closing date, all persons responsible for the loan and/or listed on the Warranty Deed as an owner of collateral MUST be present to sign. The loan can then be disbursed three business days from that closing date (One of Uncle Sam's regulatory requirements.), so it's best to plan ahead.
