Business Auto Loans
A Tech CU Business loan for a new vehicle features:
- Up to 100% of purchase price, plus tax, license, dealer preparation, documentary fees, and Extended Warranty Insurance.
- Mechanical Breakdown Insurance available for new dealer-purchased vehicles.
- Automatic payment available from a Tech CU Checking or Savings account.
Apply for this loan by completing our Business Loan Application (PDF)
|
Business New Auto Loan |
| Term1 |
Amount2 |
APR3 |
Example Payment
per $10004 |
| 24 - 66 months |
$10,000 - 100,000 |
4.750 - 13.000% |
$21.30 |
|
72 months |
$15,000 - 100,000 |
5.150 - 13.400% |
$20.90 |
| 84 months5 |
$25,000 - 100,000 |
5.400 - 13.650% |
$18.56 | |
|
Business Used Auto Loan |
| Term1 |
Amount2 |
APR3 |
Example Payment
per $10004 |
| 24 - 66 months |
$10,000 - 100,000 |
5.000- 13.250% |
$21.43 |
| 72 months |
$15,000 - 100,000 |
5.400 - 13.650% |
$20.44 | |
Possible Rate Discounts:
| Discount Method |
Rate Discount |
| Purchase your new or used car through Tech CU's Car Store |
.25% | |
This loan is available only to businesses (Sole Proprietorship, General Partnership, Corporations, Limited Liability Companies, Unincorporated Associations and Limited Liability Partnership) . The credit union will require that all owners, principals and officers with a 20% interest in the business also apply for the loan as guarantors.
Other conditions may apply. Rates and terms subject to change without notice. Approved APR based on credit qualifications.
Vehicle Loan Terms :
(1) 72 to 84 month term financing options available on 2008 or newer vehicle models with mileage less than 30,000. $15,000 minimum loan amount required for 72 month financing and $25,000 required for 84 month financing.
(2) We finance new (current model year) vehicles and used (including fleet returned vehicles, up to and including 1 ton), excluding salvaged vehicles. Maximum loan based on approved credit. New: up to 100% of Purchase Price. Used: Vehicles 5 years old or less- 100% of Kelley Blue Book Retail Value; Vehicles over 5 years old: 100% of Kelley Blue Book Wholesale Value. In addition to the Maximum Loan amounts listed below we can also finance tax, license, dealer preparation, documentary fees, and Extended Warranty Insurance.
(3) Interest Rate will vary based on approved credit.
(4) Payment per $1,000 is based on the highest interest rate with the maximum term.
(5) Term subject to credit approval.