Business Vehicles

Extend your business’s capabilities with financing for new or used business cars, vans, and light-duty trucks. Our low-cost financing solutions give you the freedom to focus on what you do best – running your business.

Benefits

Low rates

Our low interest rates keep payments more affordable.

One of PA's top auto lenders

Our customers rate us 4.8 out of 5 stars.*

Loan terms up to 7 years

Flexible repayments to fit your needs.

Quick, simple application

Most applicants get a decision quickly.

What will your monthly business vehicle loan payment be?

$
food truck
$

Eligible Vehicles for Business Loans

Keep your company rolling with flexible, low-interest-rate business cars, light-duty trucks, and vans.

New and used business vehicles

We finance cars, pickup trucks, vans, or SUVs that aren’t part of a fleet and have a value of at least $3,000.*

  • New vehicles: Up to 100% of the manufacturer's suggested retail price (MSRP).
  • Used vehicles: Up to 100% of Kelley Blue Book® or other authorized guide retail value.
  • Untitled new vehicles from the preceding year: Up to 100% of Kelley Blue Book® or other authorized guide retail value, if you purchased the vehicle before April 1 of the current calendar year.
New and used commercial vehicles

Businesses can finance the purchase of street-legal vehicles (other than cars, pickup trucks, vans, or SUVs) that are not part of a fleet.* Vehicle value must be at least $3,750.

  • New vehicles: Up to 100% MSRP
  • Used vehicles: Up to 100% National Automobile Dealers Association (NADA) or other authorized guides' retail value
Rollover loans from another financial institution

Already financed with another institution? You can still take advantage of our great rates. We can pay off your existing loan and provide a PSECU business vehicle loan instead, for new (purchased within 90 days) or used vehicles.

Lease buyouts

If you’re ready to own your business vehicle, our lease buyout loan offers the same rates as our other business vehicle loans.

Member-owned vehicles

When you need to convert a member-owned vehicle to business use, we can help. Grab your vehicle information and give us a call to discuss your options.

Refinancing an existing PSECU vehicle loan

Members with a current PSECU vehicle loan can refinance into a business loan. Refinance loans require an addition of $1,000 to the existing loan balance.

Important: PSECU will not finance vehicles with flood, theft, or salvage titles.

*Fleet: A fleet is five (5) or more vehicles that are centrally controlled and used for business purpose, including for the purpose of transporting persons or property for commission or hire.

Business loans are available to businesses located within the State of Pennsylvania ONLY.

PSECU will finance only vehicles located and titled in Pennsylvania. For some transactions and vehicles, PSECU will not lend funds. PSECU reserves the right to refuse to lend upon any collateral. If you have questions about a specific business or commercial vehicle, please contact Business Services at 800.237.7328, extension 3875.

Business and Commercial Vehicle Financing 

Start your application

Gather the information you’ll need for your application, including a profit and loss statement, income verification, and current balance sheet. You’ll also need to provide the year, make, model, options, and VIN for the vehicle you’re financing. 

Each business type can submit a paper application.

Receive your loan approval.

Loan approvals are valid for 60 days.

Receive your loan funding.

Once your loan documents are signed and returned, a check will be issued for the amount of your transaction.

Finalize the sale. 

Wrap up the transaction and get back to business – with financing you can rely on.

Business Vehicle Loan Rates

Valid as of 07/3/2020 11:25 PM EDT
Description APR* Term
New Auto - 36 months 2.74% 1-36 Months
New Auto - 60 months 3.49% 37-60 Months
New Auto - 84 months 3.49% 61-84 Months
*APR denotes Annual Percentage Rate

Rates and information are subject to change at any time. Rates above apply to Sole Proprietorships., General Partnerships, Limited Partnerships, Corporate and LLC vehicle loan rates may vary from 3.74% APR to 6.24% APR depending on information provided by the applicant, an evaluation of credit, term selection and type of vehicle purchased.

FAQS


For 61- to 72-month loans, the minimum amount financed must be at least $12,000. For 73- to 84-month loans, the minimum amount financed must be at least $20,000.

Dealers should list PSECU on the title at this address:

Pennsylvania State Employees Credit Union
P.O. Box 67013
Harrisburg, PA 17106-7013

*Based on the Auto Lender Summary from Experian