Finance Local with HomeTown

When it comes to auto loans, financing locally makes a difference. At HomeTown, you can sit down face-to-face with one of our knowledgeable Member Relationship Bankers (MRBs) who will take the time to understand your goals and walk you through all your options.

We offer:

• Competitive auto loan rates
• Local, in-town service—no outsourced financing
• A personalized experience with people who truly want to help

You don’t have to navigate the process alone—we’re here to make it simple and stress-free.

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Know Your Budget Before You Shop

One of the most important steps in financing a vehicle is understanding what you can comfortably afford. Knowing your ideal monthly payment helps keep your finances on track and avoids unnecessary stress down the road.

A good rule of thumb: if the payment doesn’t fit your budget, it’s better to keep looking. We’re always happy to help you run the numbers before you commit.

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Save for a Down Payment

While not always required, a down payment can make a big difference. Putting money down can:

• Strengthen your credit application
• Reduce the amount you borrow
• Lower the total interest you pay
• Decrease the risk of owing more than your vehicle is worth

Even a modest down payment can put you in a stronger financial position.

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Get Pre-Approved Before You Hit the Lot

Getting pre-approved for your auto loan is one of the smartest moves you can make. With a pre-approval, you’ll know:

• Your interest rate
• Available loan terms
• Estimated monthly payment

This gives you confidence while shopping and allows you to move quickly when you find the right vehicle—because your financing is already in place.

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Protect Your Investment: GAP & MBP

Guaranteed Asset Protection (GAP) is especially important if you’re financing most—or all—of your vehicle’s value. If your vehicle is totaled or stolen and your insurance payout is less than what you owe, GAP coverage can help bridge that gap.

Key benefits of GAP coverage:

• Helps avoid financial hardship after a total loss
• $1,000 credit toward financing a replacement vehicle when you finance through HomeTown
• Deductible reimbursement
• Covers more than just cars—autos, motorcycles, boats, jet skis, snowmobiles, golf carts, and more
• 60-day money-back option

Living in Minnesota means sharing the road with deer and snow—and unfortunately, a deer or weather-related collision can lead to a totaled vehicle. These are a couple examples of how GAP coverage can protect you from having to take out another loan just to pay off the old one, helping you avoid deeper financial strain during an already stressful time.

Mechanical Breakdown Protection (MBP) is a vehicle service contract that extends beyond the manufacturer’s warranty and helps cover unexpected mechanical or electrical failures.

MBP can be included with your auto loan—or purchased separately with cash, even if you don’t currently have an auto loan with HomeTown.

MBP Key Benefits

• $0 deductible
• Nationwide coverage
• 24/7/365 emergency roadside assistance
• Transferable if you sell your vehicle
• Trip interruption coverage
• Simple, hassle-free claims process

We see firsthand how MBP makes a difference. Members have called us just weeks after purchasing a vehicle with major issues, like a failing transmission or engine. Without coverage, they would have faced costly repairs—or another loan. MBP helped cover those repairs and prevented serious financial hardship.

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Let’s Get You on the Road with Confidence

At HomeTown Credit Union, an auto loan is more than just financing—it’s about making sure you’re protected, prepared, and supported long after you drive off the lot.

If you’re thinking about purchasing a vehicle in 2026, stop in and visit with one of our MRBs. We’d love to help you explore your options, get pre-approved, and choose the right protections for your journey ahead.

Your road starts here—with HomeTown.