Auto Loans in Presque Isle, Maine

Buying a car in Aroostook County? Acadia Federal Credit Union finances new and used vehicles for members across the region, and we now have a branch right in Presque Isle at 725 Main Street. Buying your first car, upgrading the family vehicle, or refinancing one you already have? You can apply online and get a response within 24 to 48 hours. You can also stop by the branch and talk it through with a local loan officer.

Who can join Acadia

Acadia is a member-owned credit union, and membership is open to more of Aroostook County and the surrounding region than many people realize. You're eligible to join if you live, work, worship, or attend school in Aroostook, Hancock, Penobscot, Piscataquis, or Washington County. Immediate family members of current members can join too. Opening membership takes a $25 deposit into a share (savings) account, and once you're a member you have access to auto loans and the rest of Acadia's products. You don't have to bank with us already to apply for a vehicle loan; you can become a member as part of the process.

How an Acadia auto loan works

Acadia auto loans cover new and used vehicles, with terms ranging from 24 to 84 months depending on the amount you borrow. You can use a loan to buy from a dealer or a private seller, or to refinance a vehicle you're already paying on.

Applying is quick: submit an application online and we'll respond within 24 to 48 hours, or visit the Presque Isle branch to apply in person. You'll generally need identification and proof of income, and sometimes proof of residence and references. Once your loan is active, you can make extra payments that apply directly to your principal balance, which helps you pay the loan off sooner and pay less interest overall.

Your rate and the terms you qualify for depend on the vehicle, the loan amount, and your credit, and all loans are subject to approval. We keep current figures on our rates page rather than in this article, so check there for today's numbers before you apply.

Get pre-approved before you shop

One of the smartest things you can do before visiting a dealership is get pre-approved. A pre-approval tells you how much you can borrow and gives you financing in hand, so you can shop like a cash buyer and focus on negotiating the price of the car instead of the financing.

To get pre-approved, apply online or at the branch with your identification and proof of income (and, in some cases, proof of residence or references). We'll respond within 24 to 48 hours. When you find the right vehicle, you already know your budget and your terms, and you can compare the dealer's financing offer against your Acadia pre-approval to see which is actually the better deal.

Refinance a car loan you already have

Already making car payments? Refinancing with Acadia may lower your monthly payment or your interest cost. That can happen if rates have changed since you bought, or if your credit has improved. Refinancing simply replaces your current loan with a new one through Acadia, and you apply the same way you would for a new purchase: online or at the Presque Isle branch. It's worth a quick look any time your current payment feels higher than it should be; there's no cost to apply and find out.

Estimate an affordable monthly payment

Before you settle on a car, it helps to work backward from a comfortable monthly payment. Three things drive that payment: the amount you borrow, the length of the loan (24 to 84 months), and the rate. A longer term lowers the monthly payment but increases the total interest you pay over the life of the loan; a shorter term does the opposite. Choosing the shortest term you can comfortably afford is usually the least expensive way to borrow.

When you compare offers, look at the APR (which reflects the full cost of borrowing), not just the monthly payment, and factor in any add-ons. You can review current rates on our rates page and start an application online whenever you're ready. A member service representative at the Presque Isle branch can also help you walk through the numbers.

Protect your vehicle and your loan

Acadia offers a few optional protections you can add to an auto loan:

• GAP Plus helps cover the difference between what you owe and what your vehicle is worth if it's totaled or stolen, so you're not left paying for a car you no longer have.


• Extended warranty coverage helps with the cost of covered repairs after the manufacturer's warranty ends.


• Debt protection can help cover your loan payments in the event of a covered life event, such as disability or involuntary job loss.

A loan officer can explain which of these make sense for your situation; none are required.

Frequently asked questions

Can I get an auto loan with less-than-perfect credit?

Yes. It's possible to get an auto loan with less-than-perfect credit, though your terms and rate may vary. Applying (or getting pre-approved) is the best way to see what you qualify for.

Do I have to live in Presque Isle to join Acadia?

No. You can join if you live, work, worship, or attend school in Aroostook, Hancock, Penobscot, Piscataquis, or Washington County, or if you're an immediate family member of a current member.

Can I get pre-approved before I pick out a car?

Yes, and it's a good idea. A pre-approval sets your budget and gives you negotiating power at the dealership. Apply online for a response within 24 to 48 hours.

How do I apply?

Apply online at acadiafcu.org for a response within 24 to 48 hours, or visit the Presque Isle branch at 725 Main Street.

Ready to start? Apply for an auto loan online, or stop by our Presque Isle branch at 725 Main Street. Not a member yet? You can join and apply at the same time.

Federally insured by NCUA.