Vehicle Loans

Simple Solutions

A Simple Solutions Loan from Farm Bureau Bank offers the lowest possible rate on your vehicle loan plus a revolving credit line at the same time. If you are buying a new or used vehicle or even refinancing your current vehicle from another creditor, Simple Solutions is a great way to go.

Farm Bureau Member Vehicle Loans (Rates Effective as of 2/3/2012)

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Guaranteed Asset Protection (GAP)
The value of a vehicle (the ACV, or Actual Cash Value) declines rapidly during the initial phase of ownership, while the loan payoff decreases in a slower, steadier manner. Thatʼs why Guaranteed Asset Protection (GAP) is a valuable benefit in the event of total loss or unrecovered theft – especially during the first few years of the loan. GAP helps the borrower avoid the agony of paying out-of-pocket for a total loss that occurs when primary insurance only covers replacement value.

Protect yourself from the unexpected and choose Farm Bureau Bank GAP coverage during the vehicle application process. A single low fee as little as $249^** can give you the coverage you want with the peace of mind you need.

Major Mechanical Protection (MMP)
Major Mechanical Protection, or MMP, protects you against vehicle repair costs not covered by the standard manufacturer warranty. In most cases, this plan eliminates out-of-pocket expenses outside of your deductible. Plus, rates are typically 35% to 40% less than equivalent warranties and service contracts available elsewhere.

Because your coverage needs are unique, Farm Bureau Bank offers various options and levels of MMP. Signing up is easy – choose the right plan for you during your loan process. Avoid costly repairs now and enjoy your ride for years to come.

MAJOR MECHANICAL PROTECTION
Plans	Vehicle Protection Options														Plan Explanations
New & Used	Platinum														Exclusionary coverage: Covers the cost of mechanical breakdown of manfacturer installed mechanical or electrical parts.
	Gold														Named parts coverage: Covers the cost of repairs due to mechanical breakdown of manufacturer installed named mechanical or electrical parts.
	Silver														Named parts coverage: Covers the cost of repairs due to mechanical breakdown of manufacturer installed named mechanical or electrical parts.
	Copper														Named parts coverage: Covers the cost of repairs due to mechanical breakdown of manufacturer installed named mechanical parts.

• Current model to 4 years old
• Up to 90,000 miles
• Must have 1 day and 1 mile remaining under the basic manufacturer’s warranty or must be purchased within 21 days of vehicle purchase (If the vehicle is outside of this eligibility guideline, a surcharge and a 1 month and 1,000 mile exclusionary period to file a claim will apply)
• Coverage begins on application date and at "0" miles on the odometer – and continues for the number of months selected, or until number of miles selected appears on odometer, whichever comes first
• Deductibles (per visit):
  • Standard $100 deductible included
  • $0 deductible available for a one-time charge of $250
  • $50 deductible available for a one-time charge of $125

• Vehicle cannot be older than 14 model years old
• Up to 150,000 miles (Copper mileage unlimited)
• No longer covered under manufacturerʼs warranty
• Platinum, Gold and Silver Coverage must be purchased within 21 days of the vehicle purchase (If the vehicle is outside of this eligibility guideline, a surcharge and a 1 month and 1,000 mile exclusionary period to file a claim will apply)
• Copper Coverage can be purchased at any time
• Coverage begins on application date and current odometer mileage and continues for number of months selected, or until number of miles selected has been driven, whichever comes first
• Deductibles (per visit):
  • Standard $100 deductible included
  • $0 deductible available for a one-time charge of $250
  • $50 deductible available for a one-time charge of $125

Debt Cancellation
Debt Cancellation (DC) provides financial security if your income is reduced or eliminated due to an unexpected life event. Designed to cover the primary and co-borrower by offering payment protection in the event of Loss of Life, Terminal Medical Condition, Critical Period Disability, Critical Period Hospitalization and Critical Period Involuntary Job Loss. Coverage for the Co-Borrower is available for Loss of Life and Terminal Medical Condition.

The DC plans and options below are available at the time you close your vehicle loan with Farm Bureau Bank:

Vehicle Loans Terms & Conditions

• The minimum loan amount is $5,000.
• The 72-month term is not available for loans less than $16,000.
• Rates and financing are limited to vehicle models 2005 and newer and subject to change.
• Existing Farm Bureau Bank vehicle loans are excluded from this offer.
• Farm Bureau Bank does not finance totaled, rebuilt or salvaged vehicles.
• All loans are subject to credit approval, verification, and collateral evaluation.
• Loans for RVs, Motorcycles, Trailers, ATVs, Watercraft and Commercial Vehicles may be 0.5% higher than posted rates
• Some restrictions may apply based upon the make and model of vehicle offered as collateral.
• Rates are disclosed as Annual Percentage Rates.
• Non-member rates may be 1-3% higher than posted rates.
• If loan is paid off early, penalty may be accessed.
• Rates are subject to change without notice.
• Final APR may differ from the loan interest rate due to additional fees (such as a loan documentation fee) which may be applicable. Suppose you borrow $19,000 and there is a $50 documentation fee for a total loan of $19,050, with an interest rate of 3.49%, the calculated APR for a 60 month loan with a 45 day first payment date would be 3.60%, with payments of $347.02. The APR may increase during the term of the loan if automatic payments are discontinued for any reason. Rate may vary based on the amount financed, term and first payment date.
• Rate may vary based on the amount financed, term and first payment date.
• The Annual Percentage Rate may increase during the term of the loan upon cancellation of your automatic payment method (ACH).
• Depending upon credit qualification and value of vehicle, a down payment may be required.