What Is An Auto Loan?


Workmen’s Circle Credit Union Is currently using stated income for:

  • New Vehicles*(current and prior year, 12,000 miles or less)
  • 750+ Credit Scores
  • 30% Down Payment

Auto Loan Rates

Length of loan New Vehicle* Used Vehicle
2 Years 2.99% 3.99%
3 Years 3.49% 4.49%
4 Years 3.99% 4.99%
5 Years 4.49% 5.49%

Credit Scores of 750+ will lower the above rates. Same applies for more money down.

If the loan is for a business purpose, add .25 onto new or used vehicle rates from the table above.


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Or Call Us At:   912.356.9225

FREQUENTLY ASKED QUESTIONS

+ What documents will WCCU need from me?

If you have already picked out a car from a dealer or private seller, you'll need to provide:

  • The 17-character Vehicle Identification Number (VIN) for the vehicle
  • The exact mileage on the vehicle
  • Amount to be financed (including vehicle purchase price, taxes, tags, title, and warranty, less any down payment)
  • Make and Model

+ How much can I finance?

  • WCCU will finance up to 80% of the value of the vehicle.

+ How long can I finance?

  • We have plans ranging from a few months all the way to 5 years.

+ Used vs New Car?

  • A new car is a current or prior year vehicle with 12,000 miles or less.

+ Do you offer auto loans for business vehicles?

  • Yes! Any business loan will follow the same rate table above by adding .25 to all rates for both new and used. Example: 2-year loan for a new vehicle is 1.99% + .25 = 2.24%.

+ What will get me approved?

  • We make our decision based on the 3 C’s:
    • Character (Credit Score)
    • Collateral (Loan to Value)
    • Capacity (Income / Expenses)

Auto Loan Information

Auto loans involve any type of personal or commercial vehicle ranging from cars, trucks and SUVs.

What documents will you need from me?

If you've already picked out a car from a dealer or private seller, you'll need to provide:

  • The 17-character Vehicle Identification Number (VIN) for the vehicle
  • The exact mileage on the vehicle
  • Amount to be financed (including vehicle purchase price, taxes, tags, title, and warranty, less any down payment)
  • Make and Model

If you're still car shopping but want to get pre-approved for a loan to buy from a dealership, you'll need to provide:

  • Amount you expect to finance (including vehicle purchase price, taxes, tags, title, and warranty, less any down payment)
 

Or Call Us At: 912.356.9225