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Skip-a-Pay Auto Loans

Wow! Take one month off from your loan every year with our No Fee Skip-A-Pay loan. Rates as low as 1.74% APR*!

Best of Both Worlds!

Power Financial Credit Union Skip-A-Pay loans can both save you money and give you peace of mind. Our Skip-A-Pay Auto Loan saves you money by offering extremely competitive rates and gives you peace of mind knowing that you can skip one payment per year should you need to. You can, of course, choose to make your monthly payments for the term of the loan resulting in no loan term extension. It’s the best of both worlds because you get an auto loan with a built in safety net in case of family emergencies where you may need some extra cash. Best of all, unlike other Skip-A-Pay programs, there is no transaction or annual fee to participate! After all, that’s what family does.

Features and Benefits of our Skip-A-Pay Auto Loans:


Calculate your monthly payments

Low Rate vs. Rebate

Lease vs. Loan

Apply for an Auto Loan Today!

*APR = Annual Percentage Rate. Eligibility for the lowest rate which is stated above is based on credit worthiness, year of vehicle, ability to repay, credit score, down payment, term of loan and year of vehicle. Minimum loan amount of $7,500 to qualify for the lowest advertised rate of 1.74% APR. Example: With a 66-month, $20,000 auto loan at 2.99% APR, you would make 66 monthly payment of $329.03. Members with existing Power Financial Credit Union auto loans will pay $350 when rate is being lowered. Interest rates include a .25% discount for automatic payment from your PFCU account and a .25% discount for previous PFCU borrowers. Other conditions may apply. Rates are subject to change at any time. Once a year, in a month of your choosing, you may elect to “skip” or defer your monthly loan payment without being considered late or in default. Your payment will then be automatically “skipped” in that month (“No Payment Period”) each year for the term of the loan (up to 72 months). Each year begins on the origination date of your loan and ends 12 months after the origination date of your loan. There is no fee for exercising this No Payment Option. If you choose to exercise the No Payment Option, interest will continue to accrue during the No Payment Period, and your loan term will be extended accordingly. Your obligation to make payments will resume the month following the No Payment Period at your original terms without additional notice from us. If you wish to discontinue the skip period, you must contact us no later than 30 days before the 1st day of the month of your No Payment Period. Please see the Addendum to Closed-End Note: No Payment Option Form that you signed when your loan was disbursed for complete details.
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