Car

Car Loans

Buying a car is easy with an LCCU loan.

New and used vehicles

If you don’t have credit history, you can finance cars up to 90% of the full purchase price or the Manufacturer’s Suggested Retail price (MSRP*), whichever one is less, and we will finance up to $12,000.

If you already have credit history, you can finance vehicles up to 95% of the full purchase price or the Manufacturer’s Suggested Retail Price (MSRP), whichever one is less, and we will finance up to $30,000.

If you provide a 30% down payment of the full purchase price or the MSRP*, whichever one is less, you don’t need to have credit history and we will finance up to $30,000.

Refinancing:

If you already have a car, you can lower your monthly payments by refinancing with LCCU. To refinance, go to the nearest branch and bring:
  • The requirements listed below
  • The latest statement from the financing company
  • Your car insurance
To request a loan you need:
  • To be a member of the credit union
  • Valid driver’s license in the U.S.
  • Your valid social security card or an individual Tax ID Number (ITIN)
  • Your last three detailed pay stubs from your employer or your last two tax returns if you are self employed
  • Your rental contract (or phone number for the rental office) or mortgage documents
  • 2 personal references
  • Last two receipts of two bills that are in your name (electricity, telephone, mobile phone, etc.)
  • Full coverage insurance

Useful Information

Financing terms

  • Used vehicles that are 5 years old or less, may be financed up to 60 months
  • New vehicles may be financed up to 60 months
  • Other models may be financed 12 to 48 months

Determine the value of your car

To determine the value of a car use the NADA (National Automobile Dealers Association) guide by visiting www.nadaguides.com

Advantages of buying a car through LCCU:

  • Excellent interest rates
  • Personalized attention
  • Permanent counseling
  • You choose the date of the monthly payment
  • We check the history of used cars through Carfax

*MSRP (Manufacturer Suggested Retail Price) The price of the car determined by the company that made the car.

Information for Car Dealers

Prequalification Form.

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