Personal Property Loans
Purpose
To finance personal property which is not real property. Most
consumer goods are personal property.
Personal Property Defined
Includes untitled vehicles such motorcycles, snowmobiles, ATV's
and personal watercraft as listed in the N.A.D.A. appraisal guide.
Household furnishings and appliances such as furniture, appliances,
televisions, stereos and computers.
New Personal Property
Household furnishings and appliances may be financed for a maximum
term of 36 months.
The loan amount for personal property will be determined by the
invoice or dealer's purchase order--a copy of which must accompany
the application.
Used Personal Property
The retail and loan value for personal property vehicles will
be determined by the most current N.A.D.A. guide.
Used household furnishings or appliances will not be financed.
Terms
Personal property loans valued up to $5,000.00 may be financed
for up to 36 months.
Personal property loans for new vehicles valued in excess of
$5,000.00 may be financed for 60 months.
Charges
All fees required to perfect the lien on personal property will
be passed on to the member.
Insurance
Full coverage insurance is required on all security and proof
of such must be provided to Credit Union.
Conditions
The Credit Union must be first lien holder on security for personal
property loans.
Rates
See Personal Property on the: Loan
Rate Sheet
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