New & Used Car Loans

Velocity offers financing on a wide range of new and used automobiles and light trucks. New cars can often be financed with little or no down payment, depending upon credit qualifications. And we finance used cars and trucks up to 10 years old. (Mileage restrictions: gas engines - 90,000 miles; diesel engines - 150,000 miles.) Please see our Rates page for complete disclosures.

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Getting your loan at the Dealership

Velocity has business relationships with most major auto dealers in central Texas. In most cases, you can apply for your loan, receive a fast loan approval and close your loan, all at the dealership. It is the ultimate in convenience for you. Be sure to ask your car dealer to arrange your financing through Velocity Credit Union. Even if you're not a current member of Velocity, we'll be happy to process your loan application and show you how to become a member without ever leaving the dealership!

Low Rate Financing or Cash Rebates?

It is important to remember that there's much more to an auto loan than just the interest rate. Consider this: car dealers sometimes offer a choice of low rate financing or cash rebates. Which is the smarter choice? It is often better to take the cash rebate and finance the car through Velocity. Not only will the buyer save money, their loan will also have a lower balance throughout its life, making it easier to sell or trade the vehicle, if needed. If you have questions about dealer financing and rebates, please contact us and we'll show you how to determine which choice is better for you.


Recent statistics show that more and more consumers owe more money on their automobile loans than their cars are actually worth. Because most auto insurance policies only cover the actual market value of the vehicle, problems can arise if the car is destroyed in an accident or stolen and never recovered. The insurance company settlement may not pay off the loan in full, leaving the borrower owing hundreds or thousands of dollars on a car that they can no longer use.

Velocity Credit Union offers a program called GAP to address this problem. By purchasing GAP with their Velocity auto loan, the borrower is protected from financial loss due to any "gap" that might exist between a vehicle's value and their loan balance. If the financed car is totaled or stolen, the GAP program will make up any difference between the insurance settlement and the loan balance.

Contact us and we'll send you more information about the GAP program.

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