Exchange Bank Vehicle Financing: Auto, RV, Motorcycle and Boat Loans

Q: What vehicle types does Exchange Bank finance?

The bank finances new autos for up to 84 months, used autos up to 72 months (vehicles up to 8 model years old at origination), auto refinance from another lender, motorcycles, recreational vehicles (Class A, B and C motorhomes plus towables) and boats including personal watercraft, outboards and inboards. Secured installment structure in every case, with title held as collateral. Truth in Lending disclosures follow Regulation Z.

Q: What is the rate-lock window?

Pre-approved auto and RV rates lock for 60 days. Within that window the borrower can finalize the purchase and close the loan at the locked rate regardless of subsequent market movement. For customers still shopping, the 60-day lock removes rate risk during the search period. If the lock expires before closing, a new credit decision and rate tier apply. Boat-loan rate-lock windows may vary by term length and are disclosed at application.

Q: Is GAP insurance required?

GAP (Guaranteed Asset Protection) is optional, not required. GAP covers the difference between the loan balance and the insurance payout if the vehicle is totaled in the first years of ownership when rapid depreciation can leave the loan balance above the market value. It can be added at closing or later. Federal Trade Commission consumer guidance on auto financing — including add-on products — is published at ftc.gov. Borrowers should review the cost-benefit carefully.

Q: Can I refinance my existing auto loan?

Yes. Auto refinance pays off the existing lender and replaces the loan with an Exchange Bank contract, typically targeting either a lower rate, shorter term or lower monthly payment. Customers bring the current payoff statement, vehicle details and recent pay stub. Local underwriting at Santa Rosa reviews the file. Common fit: borrowers who financed through a dealer at a promotional tier that has since expired, or who have improved credit since the original purchase.

Pre-approval in hours, not days. New auto financing up to 84 months, used auto up to 72 months on vehicles 8 model years or newer, auto refinance, motorcycle, recreational-vehicle and boat loans. Every Exchange Bank vehicle loan is underwritten locally in Santa Rosa with a 60-day rate-lock window so Sonoma, Marin and Napa buyers can shop dealerships with confidence.

All vehicle loans are disclosed under Regulation Z (Truth in Lending). Federal Trade Commission consumer guidance on auto financing is published at ftc.gov. Optional GAP coverage is available but never required.

Apply at a Branch Call 1-800-995-4066

Exchange Bank vehicle financing dashboard with auto, RV, motorcycle and boat loan program tiles

Vehicle	Term Max	Age Limit	Rate Tier	Notes
New Auto (current + 1 prior model year)	84 months	New	Best available tier	60-day rate-lock; GAP optional
Used Auto	72 months	Up to 8 years old	Standard tier	Mileage & condition considered
Auto Refinance	Match or shorten remaining term	Up to 8 years old	Standard tier	Payoff previous lender, one-closing structure
Motorcycle / RV	84 months (RV Class A), 60 months (motorcycle)	Up to 10 years old	Secured RV/MC tier	Inspection may be required
Boat & Personal Watercraft	120 months (large boats)	Up to 15 years old	Marine tier	Marine survey for larger vessels

New Auto — Up to 84 Months

Financing for current-model-year vehicles and immediately prior model year through a franchised California dealer. Term lengths up to 84 months, best-available rate tier for qualified credit profiles. Pre-approval completes in hours, with a 60-day rate-lock giving buyers room to compare Sonoma County dealerships without rate risk. Funding happens via dealer check or direct wire to the dealer on closing day. Optional GAP coverage and extended-warranty financing can be added at loan origination.

Used Auto — Up to 72 Months, 8 Model Years

Financing for used vehicles up to 8 model years old at origination, dealer or private-party purchase. Term up to 72 months. Mileage, condition and valuation (NADA or KBB) factor into the advance amount and rate tier. For private-party purchases, the bank issues a check made payable jointly to the seller and buyer, with simultaneous title transfer at a California DMV-authorized office. Refinances from another lender into a used-auto file follow the same structure.

Auto Refinance from Another Lender

Pay off an existing auto loan — dealer-originated, credit-union or bank-originated — and replace with an Exchange Bank contract. Common motivation: the borrower financed at a promotional dealer rate that has since reset, or has improved credit since origination. Bring the current payoff statement, vehicle details, title location and recent income documentation. Local underwriting reviews the file; once approved, the payoff routes directly to the prior lender and the new contract begins.

Motorcycle, RV & Boat Financing

Motorcycle loans up to 60 months on units up to 10 model years old — touring bikes, cruisers and off-road units. RV financing covers Class A, B and C motorhomes plus towable travel trailers, with terms up to 84 months on Class A units. Boat financing covers personal watercraft, outboards and inboards, with terms up to 120 months on larger vessels and a marine survey required for qualifying sizes. Every secured vehicle loan is disclosed under Regulation Z.

Pre-Approval Before the Dealership Visit

Most Sonoma, Marin and Napa buyers start with pre-approval before walking into a dealership. Pre-approval involves a credit pull, income verification and a conditional commitment stating the maximum amount and the rate tier. The letter lands by email the same business day on most complete applications. Walking into a dealer with a pre-approval shifts negotiation dynamics — the finance manager cannot easily substitute a higher-margin dealer product for the pre-approved loan, which tends to translate into better on-lot pricing.

Pre-approval looks at income, debt-to-income, credit history, loan-to-value against the vehicle's valuation, and any prior relationship with Exchange Bank — existing checking and savings customers may see relationship pricing adjustments.

Pre-approval letter for Exchange Bank auto loan with 60-day rate-lock terms

Dealer closing coordination with Exchange Bank direct funding and title work

Dealer Closing and Funding

Once a vehicle is selected, the buyer brings the dealer purchase agreement, vehicle VIN, insurance declarations and the Exchange Bank pre-approval. The bank funds the loan directly to the dealer by wire or check. The borrower signs the promissory note and security agreement, and the first payment is scheduled roughly 30–45 days out. Title work and lien recording follow through the California DMV — the borrower receives the title document after loan payoff years later.

Auto insurance is a condition of closing on every vehicle loan: the borrower provides a declarations page showing comprehensive and collision coverage with the lender listed as loss payee. GAP coverage, if elected, adds a line item to the disclosure before signing.

Servicing, Payments and Refinance Options

Vehicle loans are serviced by Exchange Bank directly. Payments can be scheduled via auto-debit from a linked Exchange Bank checking account, set up inside digital banking, or mailed. Customers with auto-debit from checking may receive a small rate discount. Statements are available paperless through eStatements and the mobile app.

If market rates improve or the borrower's credit profile strengthens substantially, an auto-refinance into a new contract at a lower rate or shorter term is available. Prepayment is permitted at any time with no penalty. For total-loss scenarios, optional GAP coverage — if elected at origination — bridges any shortfall between insurance payout and remaining loan balance.

Mobile app showing auto loan balance, next payment and payoff amount

Personal Credit

HELOC as an alternative funding route for older-model or highly customized vehicles.

Home Loans

Mortgage-customer relationship pricing may apply to vehicle-loan tier assignment.

Checking Accounts

Auto-debit discount on vehicle-loan payments from a linked checking.

Savings Accounts

Build down-payment reserve in a dedicated savings or Holiday Club.

Commercial Credit

Business-titled vehicles and work-truck financing for sole proprietors.

Digital Banking

Schedule vehicle-loan payments and view payoff inside online banking.

What vehicle types does Exchange Bank finance?

New autos (up to 84 months), used autos (up to 72 months, 8 model years or newer), auto refinance, motorcycles, recreational vehicles (Class A / B / C motorhomes plus towables) and boats including personal watercraft.

How fast is the pre-approval decision?

Pre-approval is often same-day on a complete application — hours, not days. Pre-approval letter specifies maximum amount, rate tier and 60-day rate-lock window.

What is the rate-lock window?

60 days on pre-approved auto and RV rates. Close within the window at the locked rate regardless of subsequent market movement. Boat-loan lock windows may vary by term.

Is GAP insurance required?

No — GAP is optional. It covers the shortfall between loan balance and insurance payout in a total-loss scenario during early years. FTC consumer guidance at ftc.gov.

Can I refinance my existing auto loan?

Yes — pay off the prior lender, replace with an Exchange Bank contract. Common for borrowers who financed at a dealer promotional tier that has since expired or who have improved credit.