Easy Budgeting
Enjoy fixed payment amounts and schedules to make budgeting simple.
Flexibility
You can choose your payment frequency to match your pay periods.
Penalty-Free
Enjoy no prepayment penalties. Pay off your loan early without fees.
Convenience
Get an Innovation loan right at any participating dealership of your choice.2
How to Apply for Dealer Financing
Ask
Ask the dealership if they participate in dealer financing. Most locations do.
Choose
Let your dealership know you would like the loan through Innovation.2
Apply
Apply for your loan onsite! View your loan in online banking and on Innovation statements.
Dealer Financing Frequently Asked Questions
What is dealer financing?
Dealer financing lets you arrange your vehicle loan directly through the dealership when you buy a vehicle.2 The dealer submits your application to a lender, then presents available financing options for your review.
How is dealer financing different from getting a loan from Innovation?
Dealer financing is incredibly convenient because you can choose your vehicle and apply for financing in one place.2 Remember to check the rate, term, fees, and total cost before you sign. If you have any questions, you can always call and ask us.
What should I look at before accepting a dealer financing offer?
Review the interest rate, payment amount, payment schedule, loan term, financing fees, optional add-ons, and the total amount you will repay over the life of the loan. A lower payment may look appealing, but a longer term can increase the total interest you pay.
How do I earn profit-sharing money with a dealer finance loan?
When you have an Innovation dealer finance loan, you’ll earn cash every three months simply by having a loan with us.1 You can earn additional cash for having other Innovation loan or savings products, plus monthly cash for conducting basic digital banking transactions.1 Learn more about our Member Rewards program.
Reach Out if You Need Additional Help
Contact us if you have any questions about dealer financing or your dealer finance loan with us. We’re happy to help!
Terms & Conditions
1Member Share & Member Rewards
All Member Reward distributions are not guaranteed and are at the full discretion of Innovation Federal Credit Union's (Innovation) Board of Directors and the Office of the Superintendent of Financial Institutions (OSFI).
Redemptions of Membership Shares for any reason are not guaranteed and are at the full discretion of Innovation's Board of Directors and the Office of the Superintendent of Financial Institutions (OSFI).
Membership Shares are capped at $5,000 (personal members) and $10,000 (business members). All balances held in the Member Rewards account exceeding these amounts are fully accessible to members and are not treated as capital to Innovation.
Dividend rates, allocation rates or any other factors impacting distribution of Member Rewards are subject to change without notice.
2Dealer Financing
Dealer financing is arranged through Credit Union Dealer Finance (CUDF).