There is a $175 processing/pre-paid finance charge to all non-GECU members.

*Must provide income verification; please send with funding package.
**Minimum MSRP or NADA Retail must be $25,000.
***LTV limits based on MSRP less rebates for new vehicles (2009 and newer) and NADA Retail values for all other vehicles. Maximum advance limits are subject to underwriter review.

EQUITY DISCOUNT:
Deduct .25% from above rates if amount financed = 90% or less of NADA Retail or MSRP on New (less rebate).

BACKEND PRODUCTS:
Tier 1: Warranty - Greater of $2,000 or 15% of NADA Retail or MSRP (Maximum of $3,500)
GAP - Maximum of $800
Credit Insurance - Amount allowed by State

Tiers 2-5: Warranty - Greater of $2,000 or 10% of NADA Retail or MSRP (Maximum $3,000)
GAP - Maximum of $700
Credit Insurance - Amount allowed by State

NEW INFORMATION:

Effective July 16, 2010, the following changes are for Tier 1 deals only:

• GAP may be sold for a maximum of $800 (was $700 - and will remain $700 for
  Tiers 2-5)

• Warranty/Extended Service Contracts may be the greater of $2,000 or 15% of NADA Retail or MSRP with a maximum of $3,500 (was greater of $2,000 or 10% of NADA Retail or MSRP with a maximum of $3,000 - and will remain for Tiers 2-5)

REMINDER REGARDING GECU CONTRACTS:

• Please see the following reminders to ensure your contract/funding package is completed correctly:

  • Signatures for all buyers are required on the bottom of page 1 and the back of page 2 in the “Contractual Lien on Accounts” box under the Cross Collateralization clause (both can sign on the Signature line).

    • In the event of a Third Party being involved (i.e. titled to business, titled to trust, or titled to other person not on loan), whoever is on the title, and is not on the loan, must sign on page 2 in the “Third Party Agreement” box.

    • As page 2 is not “carbon,” the customer will need to sign page 2 on both the white and gold copies.

• Send GECU the top, white copy of the contract and give your customer the gold copy. Again, please make sure their signature(s) appear on the front and back of both the white and gold copies of the contract. You can keep any additional copies of contract.

• In the “Assignment” box on the bottom, left side of page 1, make sure the second option, “under the terms of the ASSIGNMENT BY SELLER on page 2” is always checked. And, as the “Seller,” please sign in the “Assignment” box and under the “Buyers” signature(s) on the bottom, right of contract.

• Under the “Property Insurance” section on page 1, include, “The collision coverage deductible may not exceed $1,000.”

GECU ONLY:

• Our new corrections fax number is: 513.554.0570.

• GECU serves any individuals that live, work, worship, or attend school in the following Ohio counties: Adams, Brown, Butler, Clermont, Clinton, Fayette, Greene, Hamilton, Highland, Montgomery, Preble, and Warren, plus over 300 SEGs!

• Our Funding Checklist can be found under the "Forms & Applications" page of this website. If all items on this Funding Checklist are not included with the funding package, you will experience a delay in funding until all proper documentation is received.

• Proof of income (i.e. paycheck stub within 30 days of application date) is required on ALL applicants in Tier 3, 4, and 5. If this is not provided, it will delay funding the deal. Note: Any deal is subject to income verification.

• In an effort to better define front-end product vs. back-end product, please review the following clarifications:

• Front-end*: Etching, Rust-proofing, Wheel protection, etc.

  *These products will be included in front-end LTV calculations.

• Back-end: Extended warranty/service contract, GAP, and credit life and disability insurance

  • Tier 1: Warranty - Greater of $2,000 or 15% of NADA Retail or MSRP (Maximum of $3,500)
    GAP - Maximum of $800
    Credit Insurance - Amount allowed by State

  • Tiers 2-5: Warranty - Greater of $2,000 or 10% of NADA Retail or MSRP (Maximum $3,000)
    GAP - Maximum of $700
    Credit Insurance - Amount allowed by State

IMPORTANT REMINDERS - GECU ONLY:

• Recently, a few deals have come through where the current GECU member is inadvertently adding the non-GECU member to their already existing GECU account. Due to privacy concerns, if you have a joint application with a current GECU member and a non-GECU member, please have the non-GECU member complete and sign their own membership card (the yellow and green highlighted card) as the primary member (the yellow highlighted area).

• All General Electric Credit Union employees are required to apply for their financing at GECU; no dealer reserve will be paid to the dealer on any GECU employee deal.

• Please do not submit applications if all applicants’ credit scores are less than 550. This will give us the opportunity to more efficiently process your other applications in a timely manner.