Auto Loans

What comes next?

Your auto loan payoff is getting closer, and whether you keep your current ride, upgrade to something new, or explore leasing, we’re here to help you weigh your options and move forward with confidence.

Sparks

You’re Almost There

You’ve been making great progress on paying off your auto loan, and the finish line is officially in sight. As your loan maturity approaches, you may be wondering what makes the most sense next, keep your current vehicle, start shopping for something new, or maybe even explore leasing.

The good news? There’s no wrong answer.

At Jovia, we’re here to help you understand your options, prepare for what’s next, and make decisions that fit your lifestyle and financial goals.

Checking Account

Thinking About Keeping Your Car?

Keeping your current vehicle can be a smart financial move, especially if you’re looking forward to enjoying payment-free driving for a while.

Here are a few ways to prepare:

  • Store your title and payoff documents somewhere safe and secure
  • Contact your insurance company to review or update coverage once the lienholder is removed
  • Consider redirecting the amount you were paying toward your auto loan into savings or everyday financial goals

With one less monthly payment, now may be a great time to strengthen your everyday banking setup. A checking account with direct deposit can help simplify bill payments, automate savings, and make managing your money easier day to day. 

Plus, you can earn a $150 bonus1 when you open a first-time Jovia checking account with direct deposit.

Checking

Helpful Tips Before You Shop

Thinking About Buying Something New?

If you’re considering upgrading your ride, a little preparation now can help you shop with more confidence later.

Think about what monthly payment feels comfortable for you before shopping. Tools like our MX Money Management feature in Online and Mobile Banking can help you understand your spending and create a realistic budget. 

Explore MX Money Management

If your current vehicle is in good condition, your trade-in could help lower the cost of your next vehicle or reduce your future monthly payment.

Before you start shopping, it’s a good idea to review your credit score and confirm everything looks accurate as your current loan approaches payoff. Understanding your credit health can help you feel more prepared and confident when exploring financing options.

Checking your credit regularly can also help you:

  • Monitor payment history
  • Watch for unusual activity
  • Understand your borrowing power before shopping


Did you know you can access your credit score on Jovia’s Online and Mobile Banking? 

Here’s how

Pre-approval gives you a clearer understanding of your budget and can help strengthen your negotiating power at the dealership. It also helps streamline the financing process once you find the right vehicle.

Get Pre-Approved

Competitive rates can make a big difference in your monthly payment and total loan cost. Check out our latest auto loan rates as you begin planning your next move.

View Current Rates

Why Jovia

Why Finance with a Credit Union?

Many members first finance their vehicle through a dealership and may not realize there’s a difference between financing with a bank and financing with a credit union.

At Jovia, we’re a not-for-profit, member-owned financial institution. That means our focus is on helping members succeed financially, not maximizing profits for shareholders. We return earnings to our members through competitive rates, fewer fees, personalized support, and brighter banking experiences designed around real life.

Whether you decide to keep your current vehicle or purchase another one down the road, we’re here to help you navigate the journey with trusted guidance and flexible financing options.

Strolling Together

Jo from Jovia

Buy or Lease?

Trying to decide between buying or leasing? Jo from Jovia breaks down the pros and cons to help you determine what may work best for your lifestyle and financial goals.

Jo from Jovia

EV promotion

Thinking About Going Electric?

If you finance a new or used electric or hybrid vehicle with Jovia, you may qualify for a $100 cash bonus2 as part of our current EV promotion.

It’s just one more way brighter banking can help support your next ride.

Car

After Your Final Payment

What Happens After Your Final Payment?

Once your loan is paid in full:

  • Your loan will officially be marked as paid
  • The lien release process will begin
  • The lienholder will be removed from your title
  • You’ll receive any final documentation or next-step instructions 

Don’t Forget Your Insurance
Once your loan is paid off, contact your insurance company to remove the lienholder from your policy.

Couple in Front of Their Car

Brighter Banking

No matter what direction you choose, keeping your current ride, upgrading to something new, or simply exploring your options, Jovia is here to help every step feel a little easier and a little brighter.

Sunset Watching

1Offer available for new, first-time Go Green and CareFree Checking accounts. Must have a qualifying recurring direct deposit of at least $500 in the checking account. The qualifying direct deposit must credit the account three (3) times within ninety (90) days of account opening. Must be your first checking account with Jovia Financial Credit Union. Members with current or prior checking accounts are not eligible for the cash bonus. Must enroll in paperless statements. Qualifying direct deposits are regular, periodic automated clearing house (ACH) credits, which may include payroll, salary, pension, or government payments (such as Social Security). Person-to-person transfers, check deposits, external bank ACH transfers, or other electronic money transfers, such as those made through PayPal, Zelle, Venmo, or others, do not qualify as direct deposit. Cash bonus will post automatically to the members’ checking account 30 days after requirements are met and will be reported as income on IRS form 1099-INT. Membership eligibility requirements apply. Rates subject to change without notice. All promotional offers can be withdrawn at any time and are subject to change without notice. Employees, volunteers, and affiliates of Jovia and their immediate families are not eligible. Jovia and its agencies assume no responsibility or liability for damages, losses or injury resulting from acceptance or use of any gift. Existing accounts and submitted applications do not qualify for promotional offers.

2Offer available for new and existing Jovia members starting July 1, 2022. All loans are subject to credit approval. Cash bonus will post automatically to the members’ checking or share up to 30 days after loan funding. Cash bonus may be reported as income on IRS form 1099-MISC. Cash bonus is limited to one per loan application while supplies last. Membership eligibility requirements apply. Rates are subject to change without notice. All promotional offers can be withdrawn at any time and are subject to change without notice. Employees, volunteers, and affiliates of Jovia and their immediate families are not eligible. Jovia and its agencies assume no responsibility or liability for damages, losses or injury resulting from acceptance or use of any gift.

Jovia does not finance vehicles used for delivery, commercial, livery, taxicab or rideshare purposes. Jovia will not finance vehicles with salvaged or gray market titles. Vehicles financed by Jovia are for personal use only.