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Auto Loans

Members Plus offers competitive rates on both new and used vehicle loans, including those for boats, motorcycles and recreational vehicles!

Apply for your New or Used Auto Loan today or call 781-905-1500. We make it easy!

Not a member, not a problem. Click here to apply. We offer all the products and services of a big bank without the big bank fees!

New Auto – Rates as low as 2.74% APR*

At Members Plus Credit Union, we will make sure to fit you into the right auto loan that is affordable for you. We offer low rates, convenient terms, and financing up to 100% of the National Automobile Dealer Association (NADA) retail value. A vehicle qualifies for a new loan if it is a current or previous model year that has been driven less than 2,500 miles.

  • Weekly, biweekly or monthly payment options
  • Payments can be made through automatic payment transfer from your savings or checking account, or by using coupon books.
  • Pre-approvals available
  • Low-cost disability insurance and life insurance (optional)

Make sure you ask about GAP Protection when you get your loan from Members Plus!  GAP Protection pays the difference between your vehicle insurance company’s settlement and the remaining loan amount (directly related to the vehicle purchase), up to the maximums allowed by the credit union and/or state, in the event your vehicle is stolen or damaged beyond repair.

 


Used Auto – Rates as low as 2.89% APR**

Looking for a used car? Start with Members Plus! We offer low rates, convenient terms, and financing up to 100% of the National Automobile Dealer Association (NADA) retail value. A vehicle qualifies for a used loan if it is a model year listed in the current edition of the regular NADA Used Auto Valuation Guide.

    • Weekly, biweekly or monthly payment options
    • Payments can be made through automatic transfer from your savings or checking account, or by using coupon books.
    • Pre-approvals available
    • Low-cost disability insurance and life insurance (optional)

Apply for your Used Auto Loan today or call 781-905-1500.
Not a member, not a problem! Click here to apply.

 

*APR = Annual Percentage Rate. 2.74% APR is for a new car with terms up to 48 months and requires monthly payments of $22.02 per $1000 borrowed. **2.89% APR is for used cars with terms up to 48 months and requires monthly payments of $22.09 per $1000 borrowed. Other rates and terms are available. APRs are based upon member’s credit score.  Rates effective 12/07/18 and subject to change without notice. Membership requires a $25 deposit in a share/savings account.

New Cars

Name Term (in months) APR**(As Low As) Cost Per Thousand***
Up to 4-Year Term 0-48 2.74% $22.02
5-Year Term 0-60 2.89% $17.92
6-Year Term 0-72 3.14% $15.26
7-Year Term 0-84 3.39% $13.39

Used Cars

Name Term (in months) APR**(As Low As) Cost Per Thousand***
Up to 4-Year Term 0 - 48 2.89% 22.09
5-Year Term 0 - 60 3.14% 18.03
6-Year Term 0 - 72 3.39% $15.37
7-Year Term 0 - 84 3.64% $13.51

Motorcycle

Name Term (in months) APR**(As Low As) Cost Per Thousand***
3-Year Term 0-36 3.14 29.15
4-Year Term 0-48 3.39 $22.31
5-Year Term 0-60 3.64 $18.26

Boat and Recreational Vehicle Loans

Name Term (in months) APR**(As Low As) Cost Per Thousand***
New Recreational Vehicle 0 - 60 7.24% $19.93
Used Recreational Vehicle 0 - 36 8.24% $31.46
**APR = Annual Percentage Rate.
***APRs are based upon member’s credit score. Rates listed above reflect excellent credit scores. Payments listed above do not reflect life and disability insurance. Rates effective December 7, 2018 and are subject to change without notice.

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