Used Vehicle Loans

Purpose

To finance or refinance vehicles which have a title issued by the State of Ohio.

Types of Vehicles

Collateral for vehicle loans includes automobiles, trucks, motorcycles, boats, campers, motor homes or any other type of titled vehicle.

Terms - Used

Used vehicles are those which do not meet the requirements for new vehicles.

Used vehicles may be financed for a maximum term of 60 months if the N.A.D.A. retail value exceeds $30,000.00.

Used vehicles may be financed for a maximum term of 48 months if the N.A.D.A. retail value exceeds $10,000.00.

Used vehicles that have an N.A.D.A. retail value of over $5,000.00 and less than $10,000.00 may be financed for a maximum term of 42 months.

The most current N.A.D.A. used car guide shall be used to determine the retail value or loan value.

Used vehicles not listed in the N.A.D.A. used car guide may be accepted as collateral if the member provides a bona fide appraisal certifying that the vehicle meets one of the above classes.

Vehicles with a loan value of less than $750.00 may not be used for collateral.

Charges

Recording fees paid to the Clerk of Courts for liens, memo titles, and titles shall be passed on to the members.

Rates

See Used Vehicle rates on the: Loan Rate Sheet