Auto Loan FAQs

Vehicle values are determined using the Kelly Blue Book and JD Power Values.

No, the premium can be added to the loan or paid separately.

Yes, coverage can be purchased up to 18 months after loan closing. The coverage is not retroactive and the vehicle cannot have experienced a total loss prior to coverage purchase.

Within the first two weeks of your auto purchase, we will be sending you some paperwork in the mail. Please keep an eye out for these items:

 

• Within 7 days: a disclosure package of information detailing the terms and conditions of your loan, as well as your membership with Freedom First
• Within 10-14 days: a payment coupon booklet that will allow you to make loan payments by mail, if you so choose

 

There are several options to make payments on your Freedom First loan. The easiest method to make payments is from a Freedom First deposit account (checking or savings), which will also qualify you for Online Banking where you can easily see your payoff progress and payment history.

 

• Transfer: It's convenient and free to make your monthly payment and set up automatic payments in the Freedom First mobile app or online banking portal. Having a loan at Freedom First means you're a member, and each membership comes with a Primary Share savings account. You can use this account to conveniently make and schedule your payments. Plus, you have access to our competitive options for checking accounts, money markets, and certificates (CDs), too!
  • Special Tip: Within online banking, you can set up an email reminder that your auto loan payment is due. You can also view your loan balance and transaction history.

 

• Automatic Withdrawals: Freedom First offers free automatic monthly withdrawals from your primary financial institution. These automatic withdrawals can be set up at your bank or credit union, or at one of our convenient Freedom First branches.
  • To do this at another financial institution, you will need Freedom First's routing number (251483023) and your loan account number. You can find your loan account number on the coupons in your payment booklet, listed in online banking, or by inquiring at a branch. For your security, loan account numbers cannot be provided over the phone.
  • To do this at a Freedom First branch, you will need a voided check from the account to be debited. Please allow us 5-7 business days to establish the ACH transaction agreement from your financial institution to your loan at Freedom First.

 

• In-Person: You can make your payment at one of Freedom First's many branches in the Roanoke, New River Valley, and Lynchburg areas. Exact street addresses and hours for each branch can be found online here. Please note that our branches do NOT accept payments by card and can only accept payments by cash or check.

 

• Online: If you do not wish to pay from your Freedom First Primary Share savings account or another Freedom First account, you still have the option to pay online for a fee. Just hover over the "Help & Support" tab and click on "Quick Pay." This will take you to the payment portal, which will require you to input your 9-digit account number, and your 2-digit loan ID. You can find this information on the coupons in your payment booklet, in Online Banking, or by visiting a branch. For your security, loan account numbers cannot be provided over the phone. Please note that use of Quick Pay will incur a $12 fee per instance. 

 

• By Mail: You can send your payments by postal mail using the coupons in your payment booklet. Please allow for mail processing time to avoid late payments if you use this method. Payments should be mailed to: Freedom First Credit Union, P.O. Box 1999, Salem, VA 24153.

Your first payment will be due within 30 to 45 days from the date you purchased your vehicle. If you are unsure of the payment due date, please call our Contact Center at 540-389-0244 (toll free 866-389-0244).