New & Used Car Loans
How do you roll? With low rates and loan term options to fit your needs, our no-hassle auto financing helps your vehicle fit into your life.
What will your monthly car payment be?
Financing a New or Used Car with PSECU
Our fast loan application process lets you choose your vehicle and get on the road.
- Gather the information you’ll need for your application, including monthly income and current debt payments. The application process takes as little as 20 minutes.
- You’ll receive your loan decision fast – often within minutes and usually the same day. Your preapproval is valid for 60 days.
Get your loan funding.
When you’re ready, we’ll mail you an AutoDraft. You can request your AutoDraft anytime during that 60-day period. An AutoDraft is like a blank check for your preapproved amount that you can use at any authorized car dealer. Your AutoDraft will be valid for 120 days from the date of issue. If you haven’t requested your AutoDraft or AutoCheck within 60 days after your loan approval, you’ll need to reapply.
If you’re buying from an individual instead of a dealership, you can handle the transaction with an AutoCheck. An AutoCheck is made out to a specific seller for the exact amount of your purchase.
Finalize the sale.
- You’ll fill out information on the AutoDraft, including the term of payment (number of months). The dealer will take care of the rest when you’ve found the ride for you.
“This is a great product because the loan application can be completed over the phone, the approval is virtually immediate, and the money is available the next day.”
– PSECU Member for 10+ years
Auto Loan Rates
|TERM||APR*||Monthly Payment||Value (Minimum)||Loan Amount (Minimum)|
|1-36 Months||2.49%||$28.86/per $1,000||$3,000||$1,000|
|37-48 Months||3.24%||$22.24/per $1,000||$3,000||$1,000|
|49-60 Months||3.24%||$18.08/per $1,000||$6,000||$6,000|
|61-72 Months||3.24%||$15.31/per $1,000||$12,000||$12,000|
|73-84 Months||3.24%||$13.33/per $1,000||$20,000||$20,000|
|85-120 Months||7.74%||$12.01/per $1,000||$40,000||$40,000|
*APR denotes Annual Percentage Rate
Rates reflect a .25% APR reduction for Automatic Payment Service and loan amounts up to 100% of the retail value of the vehicle. Your rate will increase if you discontinue Automatic Payment Service. PSECU will charge an additional 2% to the current interest rate when financing a vehicle for more than 100% and up to 120% of the retail value, and an additional 3% to the current interest rate when financing a vehicle for more than 120% and up to 130% of the retail value. PSECU will only finance up to 100% of the retail value of the vehicle for refinance of an existing PSECU vehicle loan. Monthly payment example: 36 monthly payments of $28.86 per $1,000 borrowed at the 2.49% APR or 60 monthly payments of $18.08 per $1,000 borrowed at the 3.24% APR. The Manufacturer's Suggested Retail Price determines new vehicle values; Kelley Blue Book® or other authorized guides determine used vehicle values. Minimum value is $3,000. Monthly payment examples are representative of the maximum term for the corresponding rate per $1,000 borrowed. Your payment may be different from the examples shown. PSECU makes all final decisions regarding vehicle value and proper rate. Loan rates are subject to change. Kelley Blue Book® is a registered trademark of the Kelley Blue Book Co., Inc.
The interest rate you pay is based on the total amount of your loan as a percentage of the total amount of your vehicle’s value. This is your loan-to-value ratio (LTV). The total amount of your loan will include taxes, tags, and any additional add-ons, if financed. PSECU will charge a higher rate of interest if you finance a vehicle for more than 100% of the vehicle value (an LTV greater than 100%).
For example: If you finance a vehicle for more than 100% and up to 120% of the retail value, PSECU will charge an additional 2% to the current interest rate. If you are financing a vehicle for more than 120% and up to 130% of the retail value, PSECU will charge an additional 3% to the current interest rate. The Manufacturer’s Suggested Retail Price determines new vehicle values; Kelley Blue Book® or other authorized guides determine used vehicle values. PSECU makes all final decisions regarding vehicle value and proper rate.