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Loan Accounts

We’ll Get You the Loan You Need!

Vehicle Loans (Cars, Trucks, & Motorcycles)

sedan
NEW OR NEVER TITLED VEHICLES
(Includes Used Vehicles 1 year old) 
  • 7 year maximum term
  • Maximum amount financed – MSRP plus tax, title, document fees, disability & life insurance, GAP, & warranty
  • A Dealer’s invoice is required for all new vehicles
NEW – Original Financing at Another Institution
(Within the last 6 months)
  • 7 year maximum term if less than 3 months since original financing
  • 7 years minus # of months since original financing if less than 6 months since original financing
Jeep
USED VEHICLES
  • 6 year maximum term (4 years old or newer)
  • 5 year maximum term (5 to 10 years old) 
  • Maximum amount financed – 100% of either NADA retail value or the appraised value plus tax, title, document fees, disability & life insurance, GAP & warranty
  • A used vehicle appraisal is required for autos purchased from an individual, refinanced from another institution, or currently owned by the borrower and given as collateral
  • A Dealer’s invoice is required for used vehicles purchased from a dealer
motorcycle
USED VEHICLES, OVER 10 YEARS OLD
(Only vehicle years listed in the NADA Used Car Guide or the NADA Older Used Car Guide will be financed. Antique or Classic Autos will be financed with an appraisal)
  • 4 year maximum term
  • Maximum amount financed on a used vehicle will be 80% of either the NADA retail value or the appraised value plus tax, title, document fees, disability & life insurance, GAP & warranty
  • A used vehicle appraisal will be required for autos purchased from an individual, refinanced from another institution, or currently owned by the borrower
  • A Dealer’s invoice is required for used vehicles purchased from a dealer

Recreational Vehicle Loans

recreational vehicle
BOATS, CAMPERS, ATVs, SNOWMOBILES, & JET SKIS
  • 6 year maximum term
  • Maximum amount financed on NEW recreational vehicles- MSRP plus tax, title, document fees, disability & life insurance, GAP & warranty
  • Maximum amount financed on USED recreational vehicles- 100% of either the NADA retail value or the appraised value plus tax, title, document fees, disability & life insurance, GAP & warranty
  • An appraisal will be required on all vehicles not purchased from a dealer
  • A Dealer’s invoice must be submitted for all recreational vehicles purchased from a dealer

Mobile Home Loans

MOBILE HOMES
(Only mobile homes that are not permanently attached to real estate may be financed)
  • 8 year maximum term
  • Maximum amount financed on NEW or USED mobile homes- 80% of the invoice price or appraised value.
  • An appraisal will be required on all used mobile homes. The appraisal must state that the mobile home is not permanently attached to real estate
  • The member must submit documentation that a new mobile home will not be attached to real estate
  • A Dealer Invoice (New) or a Bill of Sale (Used) must be submitted with the loan application
  • The credit union must be notified if the mobile home is to be moved
  • A flood determination will be done on all mobile home loans. The member must obtain flood insurance if the mobile home is in a flood zone. The loan will not be approved until proof of flood insurance is received
  • Escrow of Property/School Taxes and Mobile Home Owners Insurance is required
grapevine

Other Secured Loans

OTHER SECURED OVER $10,000 (UCC1)
  • 5 year maximum term
  • Maximum amount financed on NEW equipment – MSRP plus tax, title, document fees disability& life insurance, GAP, & warranty
  • Maximum amount financed on USED equipment – NADA retail value or the appraised value plus tax, title, document fees, disability & life insurance
  • An appraisal will be required on all vehicles not purchased from a dealer
  • A Dealer’s invoice must be submitted for all equipment purchased from a dealer
  • The loan limit per member for a farm equipment loan is an aggregate of $50,000.00
OTHER SECURED UNDER $10,000 (UCC1)
  • 4 year maximum term
  • Must provide copy of sales receipt or invoice
  • Must provide serial number of the item being purchased
  • Amount loaned will not affect the member’s signature loan limit
SHARE SECURED
  • 5 year maximum term
  • Maximum amount financed will be the member’s available share balance not to exceed 10% of the credit union’s total unimpaired capital & surplus