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.
Vehicle Loan is rated
out of
5 by
433.
“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
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.
-
Apply online.
- 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. Apply now.
-
Get prequalified.
- You’ll receive your loan decision fast – often within minutes and usually the same day.
-
Find the right car, truck or SUV.
- Now the fun part begins. Find the right vehicle and the best price. You can search the PSECU Member Showroom by CUDL® AutoSMART for current vehicles listed for sale. You can also browse our repossessed inventory and bid on your next vehicle.
-
Get your loan funding.
-
When you’re ready, we’ll mail you an AutoDraft. 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’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.
Looking for other vehicle financing options? Find out more about recreational vehicle loans, how to refinance a vehicle, loans for business vehicles, and how to buy out a lease.
When you’re ready to hit the road, you can apply now. Apply for an auto loan.
Auto Loan Rates
| Term | APR* | Description |
|---|---|---|
| 1-36 Months | 2.49% | New / Used Auto |
| 37-60 Months | 3.49% | New / Used Auto |
| 61-84 Months | 3.99% | New / Used Auto |
| 85-120 Months | 8.74% | New / Used Auto |
* 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 $18.19 per $1,000 borrowed at the 3.49% 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. PSECU makes all final decisions regarding vehicle value and proper rate. Loan rates are subject to change. See the Consumer Note, Disclosure and Security Agreement or call 800.237.7328. Kelley Blue Book® is a registered trademark of the Kelley Blue Book Co., Inc.
Vehicle Loan Terms
| Types | Value (Minimum) | Loan Amount (Minimum) | Term (Maximum) |
|---|---|---|---|
| New & Used Vehicles | $40,000 | $40,000 | 120 months |
| New & Used Vehicles | $20,000 | NA | 84 months |
| New & Used Vehicles | $12,000 | NA | 72 months |
| New & Used Vehicles | $8,000 | NA | 60 months |
| New & Used Vehicles | $6,000 | NA | 48 months |
| New & Used Vehicles | $3,000 | NA | 36 months |
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 $18.19 per $1,000 borrowed at the 3.49% 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. PSECU makes all final decisions regarding vehicle value and proper rate. Loan rates are subject to change. See the Consumer Note, Disclosure and Security Agreement or call 800.237.7328. Kelley Blue Book® is a registered trademark of the Kelley Blue Book Co., Inc.
FAQs About Auto Loans From PSECU
Ready to buy? Get a loan preapproval from us and shop for the car, truck, motorcycle, or scooter you want – or learn more about your options.
Who is eligible for an auto loan?
Any PSECU member can apply for an auto loan. Not yet a member? It’s easy to join, and most Pennsylvanians are eligible. Learn how to open an account to access our great new and used car loan products.
How much of a new car’s price can I finance?
PSECU will finance up to 100% of the manufacturer's suggested retail price (MSRP) of any untitled, current model year vehicle that doesn't have excessive mileage.
What if I finance more than 100% of the vehicle value?
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.
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.
What should I know about financing a used vehicle?
For used vehicles, financing is available up to the retail value of any car or truck worth at least $3,000. Value is based on Kelley Blue Book® or other authorized pricing guides. A used vehicle must have a title or be a previous year model purchased after March 31.
How long is my preapproval good for?
Your preapproval is valid for 60 days. You can request your AutoDraft anytime during that 60-day period. The AutoDraft is valid for 120 days. If you haven’t requested your AutoDraft or AutoCheck within 60 days after your loan approval, you’ll need to reapply.
Can I borrow more than a vehicle’s retail price?
In some cases, yes. When we provide financing for more than the retail price or value of a new or used vehicle, a higher interest rate applies.
How does my credit history affect my auto loan?
Along with many other factors, we use your credit history to help determine your interest rate and the amount you can borrow. People with limited credit history sometimes benefit from having a co-signer.
When will my first payment be due?
Your first payment will be due within 30 days from the date of your vehicle purchase.
*Based on the Auto Lender Summary from Experian
Rated 5 out of
5
by
jk44 from
loan approval
Love PSECU easy and fast approval..no hazzle. Got check in two days.
Date published: 2020-01-05
Rated 1 out of
5
by
ED71 from
terrible service
I have financed four cars through the PSECU and have NEVER been late with a payment, as a matter of fact the vehicle loan I now have I pay almost $200.00 more a month on to get it paid off. I applied for a loan to get a second vehicle and was denied because even though I make more money now in retirement than I did when working, I assume its because we sold our house and are renting so we don't have to put up with the hassle of always fixing something that goes wrong. Im looking forward to paying off my vehicle loan in the next few months and leaving the PSECU since they have no trust in me anymore.
Date published: 2019-12-22
Rated 5 out of
5
by
Jakrealtor from
Used car loan, credit Card and personal Loan
The online process was simple, the Rates are excellent
Date published: 2019-11-22
Rated 5 out of
5
by
KAREN18 from
Auto Loan Approval
I logged into my account, applied for an auto loan and instantly received an approval! PSECU has been my go to for all loans for the last several years!
Date published: 2019-11-07
Rated 5 out of
5
by
Jay B 67 from
Auto loan
I have been a customer with PSECU for a little while now. i have gotten a loan for a jeep and refinanced the loan on my car with such an ease of process it was fantastic. just the other day i got another auto loan on a new vehicle. the loan officer that i was talking to talked to me for almost 50 minutes to answer all my questions explain to me about how if i finance more then the value of the vehicle my interest rate would go up by 2% or 3% depending on amount over. This helped me decide if i wanted to do a down payment or not and I will have the check for it by the end of this week to go get my new vehicle. I have always had a great experience with PSECU loans and their normal customer service for my other accounts.
Date published: 2019-10-14
Rated 2 out of
5
by
steve17 from
Disappointed with Loan Process
I have been a member of PSECU since 1986; for the most part, the credit union has treated me pretty well. HOWEVER, I recently applied for an auto loan and besides having to provide some additional paperwork, I finally got an email approving my loan, but it does not provide any email link or name of department to contact to provide the final pieces of information they require to cut the check The lack of this information now requires me to go through multiple steps on their Self-Service telephone system to find the right person to talk with. NOT a VERY member-friendly service! Come on PSECU, separate yourselves from banks who treat their customers this way and become more customer-friendly to your members.
Date published: 2019-10-07
Rated 1 out of
5
by
jettadude06 from
Disappointed - Process Changes
I have had a relationship with PSECU since 2011, including multiple auto loans. Something has changed in recent months as I am now being denied for a new loan to replace a car that I'm having trouble with. My credit score has improved since my last approval, but my loan was declined. Also, it took 2 full days to get a decision. I have other accounts that are in good standing and money in my accounts to show I can repay the loan. Really disappointed in PSECU's lending and approval process.
Date published: 2019-09-20
Rated 1 out of
5
by
TerryJ from
Horrible loan process time
I've been a member for over 30 years and used to finance everything through PSECU. For the past few years there seems to have been a change of hands in the loan department. It took 5 days to approve a simple car loan, but it's too late, I already sealed the deal with another bank via the car dealership and it was at a lower rate. Who do we need to vote out to get this department back to it's former glory?
Date published: 2019-09-10