SUAFCU has new and used auto loans with:
- Flexible repayment terms to fit your budget;
- Pre-qualification for qualified buyers;
Requirements for SUAFCU Auto Loan Applicants
- Be a member of SUAFCU, co-signer may be required
- Live in Illinois, New Jersey or New York
- Have a valid driver's license
- Have full fire, theft and collision (physical damage) insurance coverage with a deductible of no more than $1000. An insurance binder listing SUAFCU as loss payee must be presented to a loan officer before you receive your check
- Vehicle must be registered to borrower
- Final loan approval will be granted upon review and validation of the Bill of Sale
SUAFCU never charges a pre-payment penalty, and interest is due only on the outstanding balance.
Auto loans are available for both new and used vehicles, with models up to 6 years old. The minimum loan amount is $5,000; the maximum loan amount is $35,000. Up to 60 months and 0% down payment. Annual Percentage Rate (APR) is based on an assessment of individual creditworthiness and our underwriting standards. For example, a new auto loan from the dealer with a 48-month term, 90% LTV, and a borrower's credit score of 730, currently, will have an APR of 3.50% and monthly payments of approximately $22 per $1,000. Current auto loan modification fee is $50. All SUAFCU loan programs, rates, terms and conditions are subject to change at any time without notice.
For further information call us toll free at 888.222.8571.