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NEW & 1 YEAR OLD VEHICLES
Current Year and 1 Year Old Automobiles, Vans, Trucks, Motorcycles.
100% Financing available for those who qualify on New Vehicles/Recreational Vehicles. A minimum down payment of 10% of the purchase price (delivered) may be required on any New Vehicle/Recreational Vehicle. Down payment may be considered as cash and/or trade in, and/or shares as security.
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Terms |
Rates As Low As |
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1 – 48 Months |
5.15% APR |
APR is Annual Percentage Rate. Rates Current as of 12/18/08. |
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49 – 60 Months |
5.30% APR |
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61 – 72 Months |
5.75% APR |
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48 monthly payments of $23.10 per $1000 borrowed at 5.15% APR. |
USED VEHICLES
Includes Automobiles, Vans, Trucks, or Motorcycles purchased or refinanced from another financial institution.
100% Financing of the NADA retail price, or appraised value available for those who qualify on all Used Vehicles/Recreational Vehicles. A minimum down payment of 10% of the NADA retail price or appraised value may be required on any Used Vehicle/Recreational Vehicle. Down payment may be considered as cash and/or trade in, and/or shares as security.
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2 - 3 Years Old |
4 – 5 Years Old |
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Terms |
Rates As Low As |
Terms |
Rates As Low As |
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48 Months |
5.55% APR |
36 Months |
6.05% APR |
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60 Months |
5.80% APR |
48 Months |
6.30% APR |
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72 Months |
6.30% APR |
60 Months |
6.80% APR |
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48 monthly payments of $23.28 per $1000 borrowed at 5.55% APR. |
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Terms |
Rates As Low As |
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6 Years Old |
36 Months |
7.05% APR |
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48 Months |
7.30% APR |
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All Others |
36 Months |
8.80% APR |
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Classic Cars |
At the discretion of the CU Not to Exceed 48 Months May Require Written appraisal |
7.80% APR |
RECREATIONAL VEHICLES
Motor Homes, Boats, Travel Trailers, Campers, Farm Equipment. Rates As Low As:
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New and 1 Year Old |
Used 2+ Years Old |
Amount Financed |
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Up to 60 Months 6.10% |
Up to 60 Months 6.20% |
$0-$10,000 |
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61 to 84 Months 6.85% |
61 to 84 Months 6.95% |
$10,001-$20,000 |
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85 to 120 Months 7.35% |
85 to 120 Months 7.45% |
$20,001-$30,000 |
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121 to 144 Months 7.85% |
121 to 144 Months 7.95% |
$30,000+ |
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Refinancing Exisiting Loans: Interest rates will be 1.00% higher than New Money interest rates, excluding mortgages.
Security: The retail value as listed in the NADA used car book shall be the determining factor for loans secured by used vehicles, if used for primary security for a loan other than buying a vehicle. If security is the determining factor in granting the loan, an inspection or appraisal may be warranted. Second leins are not permitted.
Insurance: A loss payable to be obtained on all vehicles used as security or collateral protection insurance will be placed in force. Proof of lien placement to be obtained on all vehicles used as security or reasonable steps taken to ensure procurement of same.
OTHER RECREATIONAL VEHICLES
ATV's, Snowmobiles, Jet Ski's, Dirt Bikes, Lawnmowers. Rates As Low As:
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New: |
Used: |
Amount Financed: |
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Up to 36 Months 7.20% |
Up to 36 Months 7.95% |
$0-$10,000 |
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37 to 48 Months 7.45% |
37 to 48 Months 8.20% |
$0-$10,000 |
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49 to 60 Months 7.70% |
49 to 60 Months 8.45% |
$10,001+ |
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36 monthly payments of $30.97 per $1000 borrowed at 7.20% APR. |
SIGNATURE LOANS
Loans on signature alone, for any reasonable purpose. No security required.
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Terms |
Rates As Low As |
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36 Months |
10.85% APR |
No longer than 60 Months.
Members who qualify may borrow up to $7,500. |
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48 Months |
11.85% APR |
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60 Months |
12.85% APR |
| 36 monthly payments of $32.66 per $1000 borrowed at 10.85% APR. |
HOME EQUITY LINE OF CREDIT LENDING (HELOC)
Can be used for any purpose. Interest may be tax deductible. Variable rate.
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Terms |
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Rates |
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LTV: 90% of SEV or Appraised Value up to $50,000. 80% of SEV or Appraised Value $50,001-$75,000.
*Prime Rate as published in the Wall Street Journal. Rate may change quarterly. No application fee. No annual fee.
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180 Months |
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Prime Rate* |
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FIXED RATE HOME EQUITY LOANS
Low, competitive rate of interest. Can be used for any reason. Interest may be tax deductible. Fixed rate of interest.
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Terms |
Rates |
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60-120 Months |
6.25% APR |
LTV: 90% of SEV or Appraised Value (less amt owed)up to $50,000. 80% of SEV or Appraised Value $50,001-$75,000
No application fee. No annual fee. |
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121-180 Months |
6.50% APR |
HOME IMPROVEMENT LOANS
Written type of improvement required, along with written estimate. Estimate may be from a contractor, lumber yard, etc.
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Terms |
Rates As Low As |
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1 – 36 Months |
8.60% APR |
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37 – 72 Months |
8.85% APR |
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36 monthly payments of $31.61 per
$1000 borrowed at 8.60% APR. |
SHARE SECURED LOANS
100% share secured loans may be obtained up to 20 years with a four year balloon clause at 3.00% above current share rate.
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Terms |
Shares |
Rates |
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1 – 60 Months |
50% |
5% above current share rate |
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1 - 60 Months |
75% |
4% above current share rate |
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1 - 60 Months |
100% |
3% above current share rate |
81 Account Share Secured Loan: Shares to receive a 1.00% dividend. Loan term up to 84 months at 3.50%.
SINGLE PAYMENT LOANS
Loan officers are permitted to do single payment loans the same as any other loan. The application shall contain a notation as to how this member intends to repay this. For example: Credit Union shall transfer from payroll of XYZ Corporation, or income tax return.
MORTGAGE LOANS
First Lien, Member-occupied, Single Family
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Terms |
Base Rates |
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up to 10 Years |
6.20% APR |
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10 Years, 1 Day – 15 Years |
6.40% APR |
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15 Years, 1 Day – 20 Years |
6.60% APR |
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20 Years, 1 Day – 30 Years |
6.80% APR |
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120 monthly payments of $11.20 per $1000 borrowed at 6.20% APR. |
APR is Annual Percentage Rate. APY is Annual Percentage Yield.
Rates & Terms are subject to change without notice. All Rates may vary based on credit history, security, term of loan, and direct deposit.
Updated 12/18/08.
Lansing Postal Community Credit Union
4600 Collins Road
PO Box 22098
Lansing, Michigan
48909
517.337.0401
Fax: 517.337.0977
memberservices@lpcumi.com
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