First Commonwealth Federal Credit Union
Forbes 2020 Best in State credit unions

Express Auto PreApproval

Looking for the advantage of negotiating like a cash buyer and the convenience of an auto loan? In four simple steps, you can receive a blank "check" to take with you on your next car shopping trip.

  1. Apply - online, in-person, or call us at 610.821.2403
  2. Receive Your Express Draft - You will receive a “blank check” which will have your approved limit for you to shop for your next vehicle.
  3. Take your time - You have up to 30 days to use your Express Draft. Your loan will not be activated until you find your dream car!
  4. Sign the check and drive off - Complete the check (Dealership Name, Amount Due, Vehicle Info) and drive away in your new ride!

What is an Express Draft?

An Express Draft works like a personal check. Once you are preapproved, you will receive the Express Draft and you simply make your Express Draft payable to the car dealer for the purchase price, up to your approved maximum loan amount*.

Your loan will be activated for the amount you made payable on the Express Draft. Don’t worry if you changed your mind about the Express Draft, you are under no obligation to use it once you receive it.

Apply Now

*The approval of an Express Draft may vary as it is determined by an evaluation of credit, amount, term and other factors. Loan to Value restrictions may apply. Express Drafts may be used for new or used vehicles including motorcycles or boats. Express Drafts may not be used for lease buy-outs, for private party sales, commercial vehicles or vehicles designed for commercial use. All applications are subject to review. Certain restrictions and conditions may apply.

Table data for Auto Loan Rates
 10-20-2020
Type Term1 APR (as low as)2 Alert Me
New Auto up to 36 months 2.24% Receive a notification when this rate changes
up to 48 months 3.24% Receive a notification when this rate changes
up to 60 months 3.49% Receive a notification when this rate changes
up to 66 months 3.49% Receive a notification when this rate changes
up to 72 months 3.74% Receive a notification when this rate changes
up to 84 months 3.99% Receive a notification when this rate changes
Used Auto up to 36 months 2.74% Receive a notification when this rate changes
up to 48 months 3.74% Receive a notification when this rate changes
up to 60 months 3.99% Receive a notification when this rate changes
up to 66 months 3.99% Receive a notification when this rate changes
up to 72 months3 4.49% Receive a notification when this rate changes
up to 84 months4 4.74% Receive a notification when this rate changes
External Refinances up to 84 months .25% rate discount Receive a notification when this rate changes
  • 1Term restrictions may apply for excess miles/mileage (100,000+ up to 175,000). Refinance terms up to 72 months only.↵
  • 2Annual Percentage Rates (APRs) are based on an evaluation of credit. Maximum LTV may vary, based on borrower's credit profile.↵
  • 32016 - 2020 model years only for used auto loans up to 72 months.↵
  • 42019 and 2020 model years only for used auto loans up to 84 months.↵