Used Vehicles
If you’re looking to purchase a pre-owned vehicle but want more lending choices than what the dealership or used car lot may offer, look to the credit union for another finance option. This easy, low-cost, secured loan uses your pre-owned vehicle title as collateral. |
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Requirements:
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You must complete a current loan application.
You must provide a purchase agreement or title.
You must meet policy guidelines regarding consumer debt ratio (CDR), credit history and income. Automobile must be listed in the current NADA book.
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| Benefits to You: | You’ll enjoy more bargaining power on the lot with a pre-approved used car loan from your credit union along with our free NADA book guide to help determine current vehicle values.
You may borrow up to 115% of the purchase price or NADA retail book value, whichever is less, on 1998 and newer models only. Your repayment schedule will be determined by the age of the vehicle. Antique or classic cars with an appraisal will lend full value. If you don’t have an appraisal, the low book value will be lended.
You can apply for your loan 24 hours a day, 7 days a week by phone or online.
You can take advantage of competitive interest rates, no loan fees and no prepayment penalties. In addition, Guaranteed Auto Protection, extended warranty and Credit Life & Disability Insurance are available.
Your payments can be made conveniently using payroll deduction, automatic transfer from another account, Tellerphone, mail or the internet. |
