We make that dream vehicle more affordable and within your reach
If you have your eye on a new car, found a great deal on a used vehicle or want to refinance a higher-rate loan from another financial institution, our best-in-market auto loan rates can help you fit comfortably in the driver's seat. LOC Credit Union has some of the best auto loan interest rates around. Pre-approved auto loans are available for those who qualify so you know how much you can afford to spend before you start shopping.
|Year||Fixed APR As Low As||Term||Note|
|2017-2024||5.75%||Up to 66 Months||Available for <90% LTV or Heroes Program Members|
|2017-2024||6.00%||up to 66 Months|
|2018-2024||6.25%||up to 75 Months||Available for <90% LTV or Heroes Program Members|
|2018-2024||6.59%||up to 75 Months|
|2018-2024||6.75%||Up to 84 Months||Available for <90% LTV or Heroes Program Members|
|2018-2024||7.25%||Up to 84 Months|
|2022-2024*||8.25%||85 to 120 Months|
Example: A loan amount of $25,000 with a rate as low as 5.75% for 66 months would have an approximate monthly payment of $443.00
APR = Annual Percentage Rate
*Credit score 700+ required. Available for up to 75% financing.
Subject to approval. Approval and actual rate and term offered is based on overall creditworthiness factors and satisfactory collateral.
|LTV's up to 115% are available. All used collateral older than model years listed above will be considered on an individual basis. Contact us for more information. Restrictions apply.|
|Year||Fixed APR As Low As||Term||Note|
|2016 and Older||8.00%||Up to 48 Months||Max 85% LTV. Heroes Program Members eligible for 0.25% rate discount.|
|2016 and Older||8.25%||up to 48 Months||Max 85% LTV. Heroes Program Members eligible for 0.25% rate discount.|
Example: A loan amount of $15,000 with a rate as low as 7.75% for 48 months would have an approximate monthly payment of $364.00
APR = Annual Percentage Rate | Maximum LTV of 85%
150,000 maximum mileage at time of application. Contact us for more information. CARFAX Report pulled on all vehicles. Additional restrictions apply.
|Subject to approval. Approval and actual rate and term offered is based on overall creditworthiness factors and satisfactory collateral.|
What would my auto payments be?
Many factors go into determining the final loan amount for the purchase of a new or used vehicle. These factors include any manufacturer's rebate, the trade-in value of your old vehicle less any outstanding balance, your down payment, etc. Once the loan amount is determined the interest rate and the term of the loan will be used to estimate your vehicle payment.
Auto Loan FAQs
Yes, we offer both financing and refinancing on loans.
Refinancing may be a good option if your credit score has improved or if your car is worth more than the existing loan balance and you want to use the equity to pay off other debt.
Loans are typically processed within 24 hours, with some exceptions for weekends and holidays.
There are no prepayment penalties on your loan from LOC, so feel free to pay a little extra each month to save on interest!
LOC offers up to 115% financing. However, factors such as credit score and value of the vehicle can determine how much you're eligible to finance. You can also refinance for more than what you owe if the vehicle is worth more than the loan balance.
Yes. LOC offers loans for both new and used vehicles. You may be surprised to see that the rate of recent year used cars is very similar to that of a new car.
If you're interested in applying, you can get the process started online today. If you prefer, come into a branch or give us a call at 800.837.4562.
Unique to each individual, those deciding between buying or leasing should consider the following: Cost of vehicle, mileage, cost of repairs/maintenance, depreciation of vehicle, insurance costs, and more before making their final decision.
In some instances, it is better to finance a lower amount at a slightly higher rate, meaning to it would be best to take the rebate. But the decision may come down to what rate you receive from your credit union or bank. Use our auto loan calculator to run a variety of scenarios based on taking a rebate and financing with LOC or taking the lower rate from the dealership financing.