Title Loan

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  • Benefits
  • Finance Your Auto
  • Protect Your Auto
  • Tools
  • FAQs
 

Benefits

  • Competitive interest rates
  • No penalties if you choose to pay off your loan early
  • Low-cost optional payment protection insurance
  • Free online loan calculators
  • Convenient payment options
 
 

Good To Know

Electronic Title 

The electronic lien and the title program is a paperless method that allows TXDMV and a financial institution or lienholder to exchange vehicle title information electronically. The title record is sent electronically and the lienholder stores the electronic record instead of a paper Certificate of Title. The electronic title is created and held by TXDMV in the state motor vehicle database. When the loan is paid in full upon lien holder's request, the TXDMV will print a paper title and mail it to the owner. 

Loan Payoff

10 business days after a loan has been paid off, JSC FCU will automatically release the electronic lien with TXDMV. After 10 business days has passed, the State will then mail a paper title to you within 7 to 10 business days to the address the Credit Union has on file. If the address on record is incorrect, please update your address with the Credit Union to ensure the title comes to the correct address. Any address changes should be made prior to loan payoff.

GAP(Guaranteed Auto Protection) Insurance

GAP Insurance helps pay off your remaining loan balance if your auto is stolen or damaged, and is deemed to be a total loss. GAP Insurance bridges the "gap" that can occur when the unexpected (accident or theft) happens to your auto. It bridges the amount you owe and the amount your auto insurance covers for your auto.

Benefits Include:

  • Protection for the term of your loan up to 84 months.
  • Coverage for autos financed up to $100,000.

You may even qualify to add the cost of GAP to your loan. Please contact a JSC FCU representative for more details.

Extended Warranty

A vehicle service contract protects you from costly mechanical repairs including comprehensive benefits. Have the peace of mind knowing that most problems can be taken care of with an Extended Service Contract. Extended warranties are designed into three products; Level 1, Level 2 and Level 3. Level 3 is bumper to bumper covering all the vehicle's mechanical and electrical repairs. Warranties may be purchased at any time.

You may even qualify to add the cost of Service Contract to your loan. Please contact a JSC FCU representative for more details or click here to “Get a Quote”.

Co-borrower
  • The co-borrower, must be a JSC FCU member.
  • Interest rate is based on the qualified co-borrower - parent, grandparent or legal guardian.
  • Loan qualification is based on the parent, grandparent or legal guardian.
  • The co-borrower may choose the name(s) listed on the title. (Both the borrower and co-borrrower or one or the other.)
Taxes & State Fees*
  • Sales Tax will be calculated based on 6.25% of the purchase price or 80% of SPV (Standard Presumptive Value); whichever value is higher.
  • Valid Registration (Good through 60 days)
  • If registration is expired or expiring within the next 60 days, member must update registration and provide a copy of registration receipt prior to or at loan closing.
  • Title Application Fee: $35.50 ( Harris County)
  • New Resident Fee (if applicable): $90 or the difference between the two states sales tax.

* Taxes & State Fees may change without notice. Visit www.txdmv.gov for most current taxes and fees.

Finance Your Auto

JSC FCU offers extremely competitive interest rates and terms for both new and used autos. Use this guide to apply for a loan, find your vehicle and to finalize your loan – we even explain the process in between so you know exactly what’s needed to expedite the process.

Use the print icon located at the top right to conveniently print the provided information.

Pre-Approval
  • What you will need to provide at time of application:
    • Personal contact & employment Information
    • Proof of Income
      • W2
      • Pay Check Stub
      • Self Employed: Two years of tax returns
    • Collateral Information (Optional)
      • VIN Number
      • Year/Make/Model
      • Mileage
      • Color
      • Features
    • Amount Requesting & Down payment (if applicable)
  • Member will receive a pre-approval letter (email for online apps) from a loan officer/processor. This will be your point of contact for your loan closing.
Prior to Loan Closing
  • Member should contact their Insurance Agent to obtain an Insurance ID Card and an Insurance Policy or
    Declaration Page listing the auto and JSC FCU as Lien Holder with a max Comp / Collision of $1,000. Member should bring this document to loan closing.
  • Member should contact their loan officer to schedule a closing appointment.
 
Loan Closing
  • Member and all parties listed on the title must be present.
    • Documents to bring to closing
      • Insurance Card and an Insurance Policy or Declaration Page listing JSC FCU as Lien Holder with a max Comp / Collision of $1,000.
      • Original title(s)
      • Current State Issued Photo ID (All parties to be listed on title)
  • Member chooses optional products:
    • Guaranteed Auto Protection (GAP) Insurance
    • Extended Warranty
    • Credit Life / Disability Insurance
  • Credit Life / Disability Insurance
  • Member chooses payment options
    • Mail payment coupons
    • Scheduled Transfer
    • ACH payments (from another financial institution)
    • Electronic Transfer (through eBanking)
  • Member signs loan documents

Protect Your Auto

A vehicle service contract protects you from costly mechanical repairs including additional benefits. Have the peace of mind knowing that most problems can be taken care of with an Extended Service Contract.

Use the print icon located at the top right to conveniently print the provided information.

Vehicle Service Contracts

When buying any vehicle, there is always a chance of having a mechanical breakdown. However, you will have peace of mind knowing that most problems can be taken care of with a Vehicle Service Contract from Auto Exam, Inc.

Auto Exam will give you all the benefits and options at an affordable price. For just pennies a day, your automobile will be protected from unexpected repair costs. When an unforeseen repair is required, the first thing you will reach for is this plan.

Various coverages, deductibles, and coverage terms are available based on the vehicle's age and mileage. Below is an overview of some of the types of coverage that are available. For more details on coverage and eligibility, please contact Auto Exam directly or review your actual contract.

Exclusionary Coverage

Exclusionary Coverage is the best type of coverage available. This type of coverage will cover any part of the vehicle that is not listed as an exclusion by the contract. Below are some of the types of items excluded from coverage:

  • Any Normal Maintenance Item - Including but not limited to: tires, wheels, wheel covers, shocks, alignments, brake pads or shoes, brake rotors or drums, accessory drive belts, hoses, filters, exhaust components, clutch, and pressure plate.
  • Any Tune-Up Item - Including but not limited to: spark plugs and wires, distributor cap, and carburetor.
Component Coverage

Vehicles that are too old or have too many miles to qualify for exclusionary coverage may still qualify for a component coverage. There are many levels of component coverage available.

Typically these coverages will cover the major components of the vehicle. Below are some of the areas covered by these contracts:

  • Engine
  • Transmission
  • Steering
  • Suspension
  • Electrical
  • Brakes
  • Fuel Delivery
  • Cooling
Powertrain Coverage

In some cases vehicles with high mileage may only qualify for a powertrain coverage. Typically this will be vehicles with 100,000 miles or more. Powertrain coverage will only cover the essential powertrain components. Typically these items will include the following:

  • Engine - All Internally Lubricated Parts
  • Transmission - All Internally Lubricated Parts
  • Drive Axle Assembly
Other Benefits

Contracts include:
Towing Coverage, Substitute Transportation (Rental Coverage), and Trip Interruption.
Most of our contracts also include:

Other Benefits Available on some coverages include - Roadside Assistance, and more.
Please refer to your contract for the benefits that apply, not all benefits apply to all contracts.

Get Quote

Quote Request form

Tools

 

FAQs

Can anyone get a loan from a credit union?

Only a member of a Credit Union can apply for a loan. To find out if you are eligible for membership or for information about becoming a member click here.

How many months can I finance an auto loan?

You may be able to finance an auto loan for up to 72 months. Please contact a JSC FCU representative for more details.

What is the maximum age of an auto I can finance? 

We prefer the auto being less than 10 years old.

How much can I borrow on an auto loan?

You may qualify to borrow up to 120% of NADA clean trade on an auto loan. See a JSC FCU representative for more details.

How do I know if my loan is approved?

You will be contacted by the loan officer assigned to your application.

How long does it take to get a loan approved once the application has been turned in?

Loans are typically approved the same day.

How is interest calculated on an auto loan? 

Divide the interest rate by 365 days (# of days in a year), multiply by the principal balance (this gives you the per diem), then multiply that by the number of days from payment to payment. Interest is calculated daily on the unpaid principle balance of the loan.

Do you offer credit life and disability insurance on auto loans? 

Yes, we offer credit life and disability insurance on our auto loans.

Does the title have to be in my name?

Whoever is on the loan can be on the title. 

Can I pick up my title at the Credit Union? 

JSC Federal Credit Union no longer holds paper titles at the Credit Union. 

What is electronic title? 

The electronic lien and the title program is a paperless method that allows TXDMV and a financial institution or lienholder to exchange vehicle title information electronically. The title record is sent electronically and the lienholder stores the electronic record instead of a paper Certificate of Title. The electronic title is created and held by TXDMV in the state motor vehicle database. When the loan is paid in full upon lien holder's request, the TXDMV will print a paper title and mail it to the owner. 

What happens when I payoff my vehicle? 

10 business days after a loan has been paid off, JSC FCU will automatically release the electronic lien with TXDMV. After 10 business days has passed, the State will then mail a paper title to you within 7 to 10 business days to the address the Credit Union has on file. If the address on record is incorrect, please update your address with the Credit Union to ensure the title comes to the correct address. Any address changes should be made prior to loan payoff.

What can I do to receive my title sooner? 

You can request for receive your title sooner by completing the Early Title Release Form and paying with guaranteed funds (cash, verifiable cashier's check, transfer from JSC FCU account, Shared Branch account or wire transfer).

The JSC FCU Title Department will electronically release the Credit Union's lien the next business day. The State will then mail the title to the member within 7 to 10 business days to the  

 

Title requirements are subject to change due to each individual loan scenario.

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