Rates
Auto Loan Rates
New Auto Loans
| Description | 0 – 60 months | 61-72 months | 73-84 months | Daily Periodic Rate |
|---|---|---|---|---|
| PREMIER | 5.25% | 6.00% | 6.75% | 0.01438% |
| NEW | 6.50% | 7.25% | 8.00% | 0.017810% |
| GO GREEN DISCOUNT | MINUS .25% | MINUS .25% | MINUS .25% | |
| DIRECT DEPOSIT DISCOUNT | MINUS .25% | MINUS .25% | MINUS .25% | |
| 20% DOWN DISCOUNT | MINUS .25% | MINUS .25% | MINUS .25% | |
| Rates effective as of May 1, 2009 and subject to change. |
Used Auto Loans
| Description | 0-60 months | 61-72 months | 73-84 months | Daily Periodic Rate |
|---|---|---|---|---|
| Premier ‘07-’09 | 6.25% | 7.00% | 7.75% | 0.01712% |
| Regular ‘07-09 | 7.50% | 8.25% | 9.00% | 0.012054% |
| GO GREEN DISCOUNT ‘07-’09 | MINUS .25% | MINUS .25% | MINUS .25% | |
| 2006 – 60 mo max | 7.75% | n/a | n/a | 0.02123% |
| 2005 – 48 mo max | 8.25% | n/a | n/a | 0.02260% |
| 2004 & older – 36 mos | 9.00% | n/a | n/a | 0.02465% |
| DIRECT DEPOSIT DISCOUNT | MINUS .25% | MINUS .25% | ||
| 20% DOWN DISCOUNT | MINUS .25% | MINUS .25% | ||
| Rates effective as of May 19, 2009 and subject to change. |
* RATE REDUCER BONUSES: .25% Go Green Auto Loan rate reducer available on vehicles with 25 MPG City. Vehicle must be a 2007 year model or newer. .25% direct deposit rate reducer is available when the member’s net payroll or retirement income is automatically deposited into an NIHFCU account. If the net payroll or retirement income is stopped, the APR will increase to the current rate. Any increase in the rate will result in additional payments of the same amount until the owed amount has been repaid. .25% down payment rate reducer is available when a down payment is made on the vehicle of at least 20%.
^ GO GREEN AUTO LOANS: Pertains to new vehicles with 25 MPG City based on The United States Department of Energy current official EPA ratings (www.fueleconomy.gov) Vehicle must be a 2007 or newer.
Your Annual Percentage Rate may vary depending on your creditworthiness. Please ask a loan officer for details regarding how your rate is determined.
As a condition of receiving an automobile advance/loan, you must obtain single-interest automobile coverage. You may obtain the single-interest auto insurance from anyone you want that is acceptable to the credit union. If you get the insurance from the credit union, you will pay $38.50. This rate is subject to change. The insurer waives all subrogation rights.
Maximum loan amount on all auto loans is $100,000.
If you are more than 10 days late in making your payment, you will be assessed a late payment of 5% of the past due amount or $20, whichever is greater.
You understand that in the event of default, you will pay all reasonable costs and expenses of collection of any indebtedness you owe to the Credit Union, plus the costs and expenses of the repossession and sale of any collateral. These costs and expenses which you agree to pay to the Credit Union include, but are not necessarily limited to: all court costs; litigation expenses; collection agency fee and reasonable attorney’s fees of the unpaid total amount you owe to the Credit Union.
