Used Vehicle Secured Loans

On used vehicles, the amount of money the credit union will lend is based on the latest NADA Official Used Car Guide “clean retail” value. The following minimum requirements must be met: Payback term not to exceed the following terms:
  1. Vehicle model years 2017-2013 - maximum loan term: 72 months if vehicle has up to 25,000 miles.
  2. Vehicle model years 2017-2013 - maximum loan term: 60 months if vehicle has 25,000 miles or more.
  3. Vehicle model years 2012-2009 - maximum loan term: 60 months.
  4. Vehicle model years 2008 and older - maximum loan term: 36 months.
  5. Current credit report that is acceptable.
  6. Debt-to-income ratio not to exceed 50%.
  7. Borrower must have proven stability of employment. EPB employees’ income can be verified by phone; non-EPB employee borrowers must have income verified in writing.
  8. Any automobile used as collateral shall have proper and adequate insurance to protect the credit union’s interest and the borrower must maintain this insurance throughout the term of the note and have the credit union listed as “loss payee” on the policy. If the member fails to provide proper insurance, such coverage will be obtained by the Credit Union at borrower’s expense.
  9. Antique automobiles shall be considered, provided the loan meets certain criteria, such as updated bonafide appraisal, proper insurance coverage, and title recording.

Used Vehicle Loan Rates

Insurance Coverage

EPB Employees Credit Union highly recommends that you consider insurance coverage for all of your valued assets - including yourself! If you’re in the market for a vehicle, home or something personal, you might want to consider what might happen if you become sick, disabled or worse! Check out our credit union partners at TruStage; you'll get the peace of mind that will make your loan nearly worry free! For more information, please click on the logo below.

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