Auto Loans

Whether you have plans to purchase an everyday vehicle or a seasonal ride, our competitive rates can help you afford a new or used option.

We are offering a 0.25% rate discount on our posted rates for auto/motorcycle loans that refinance with LUSO from other dealers, banks, credit unions, etc. Rate discount EXCLUDES all existing LUSO loans AND new/used auto, and motorcycle purchases. FREE application fee on the above refinances.

 

New Auto/Truck: Year 2022 or Newer

Purchase a new vehicle and become the first owner of the car, SUV, or truck you choose.

  • $1,000 minimum loan
  • Loan terms from one to seven years
  • Up to 100% MSRP financing
  • $40.00 processing fee 

*Restrictions apply.

Effective Date: Tuesday, February 7, 2023

New Auto/Truck: Year 2022 or Newer
Minimum LoanTermRateAPRFinancingPayment per $1,000 Borrowed
$1,000.001 Year4.990%6.667%Up to 100% MSRP$85.60
$1,000.002 Year4.990%5.869%Up to 100% MSRP$43.87
$1,000.003 Year4.990%5.589%Up to 100% MSRP$29.97
$1,000.004 Year5.490%5.948%Up to 100% MSRP$23.25
$1,000.005 Year5.490%5.861%Up to 100% MSRP$19.10
$1,000.006 Year6.490%6.807%Up to 100% MSRP$16.81
$1,000.007 Year7.490%7.769%Up to 100% MSRP$15.33

APR: Annual Percentage Rate is based on a $10,000 loan amount, unless otherwise noted.

REQUIRED - $50.00 VSI insurance fee on all vehicle loans.

REQUIRED - $75.00 VSI insurance fee on commercial vehicle loans.

Business vehicle annual percentage rates are available upon request; rate is equal to 2.00% above quoted rates above; term may be extended to a maximum of 10 years.

Apply Now

Used Auto/Truck: Year 2021 - 2020

Purchase a used vehicle with a model year of 2020 or 2021.

  • $1,000 loan minimum
  • Loan terms from one to six years
  • Up to 100% NADA retail financing
  • $40.00 processing fee

Effective Date: Tuesday, February 7, 2023

Used Auto/Truck: Year 2021-2020
Minimum LoanTermRateAPRMaximum FinancingPayment per $1,000 Borrowed
$1,000.001 Year5.490%7.169%100% NADA Retail$85.83
$1,000.002 Year5.490%6.371%100% NADA Retail$44.09
$1,000.003 Year5.490%6.091%100% NADA Retail$30.19
$1,000.004 Year5.490% 5.948%100% NADA Retail$23.25
$1,000.005 Year5.990%6.363%100% NADA Retail$19.33
$1,000.006 Year6.490%6.807%100% NADA Retail$16.81

APR: Annual Percentage Rate is based on a $10,000 loan amount, unless otherwise noted.

REQUIRED - $50.00 VSI insurance fee on all vehicle loans.

REQUIRED - $75.00 VSI insurance fee on commercial vehicle loans.

Additional fees may apply.

Business vehicle annual percentage rates are available upon request; rate is equal to 2.00% above quoted rates above; term may be extended to a maximum 10 years.

Apply Now

Used Auto/Truck: Year 2019 - 2018

Purchase a used vehicle with a model year of 2018 or 2019.

  • $1,000 loan minimum
  • Loan terms from one to five years
  • Up to 100% NADA retail financing
  • $40.00 processing fee

Effective Date: Tuesday, February 7, 2023

Used Auto/Truck: Year 2019 - 2018
Minimum Loan Term Rate APR Maximum Financing Payment per $1,000
Borrowed
$1,000.001 Year5.490%7.169%100% NADA Retail$85.83
$1,000.00 2 Year 5.490%6.371%100% NADA Retail$44.09
$1,000.003 Year5.490%6.091%100% NADA Retail$30.19
$1,000.004 Year5.990%6.450%100% NADA Retail$23.48
$1,000.005 Year6.490%6.865%100% NADA Retail$19.56

APR: Annual Percentage Rate is based on a $10,000 loan amount, unless otherwise noted.

REQUIRED - $50.00 VSI insurance fee on all vehicle loans.

REQUIRED - $75.00 VSI insurance fee on commercial vehicle loans.

Additional fees may apply.

Business vehicle annual percentage rates are available upon request; rate is equal to 2.00% above quoted rates above; term may be extended to a maximum 10 years.

Apply Now

Used Auto/Truck: Year 2017 - 2013

Purchase a used vehicle with a model year between 2013 and 2017.

  • $1,000 loan minimum
  • Loan terms from one to four years
  • Up to 95% NADA retail financing
  • $40.00 processing fee

Effective Date: Tuesday, February 7, 2023

Used Auto/Truck: Year 2017 - 2013
Minimum Loan TermRateAPRMaximum FinancingPayment per $1,000
Borrowed
$1,000.00 1 Year 6.490% 8.173% 95% NADA Retail $86.29
$1,000.00 2 Year 6.490% 7.375% 95% NADA Retail $44.54
$1,000.00 3 Year 6.490% 7.094% 95% NADA Retail $30.64
$1,000.00 4 Year 7.490% 7.955% 90% NADA Retail $24.17

APR: Annual Percentage Rate is based on a $10,000 loan amount, unless otherwise noted.

REQUIRED - $50.00 VSI insurance fee on all vehicle loans.

REQUIRED - $75.00 VSI insurance fee on commercial vehicle loans.

Additional fees may apply.

Business vehicle annual percentage rates are available upon request; rate is equal to 2.00% above quoted rates above; term may be extended to a maximum 10 years.

Apply Now

New Motorcycle: Year 2022 or Newer

Purchase a new motorcycle that was released within the previous or current model year.

  • $1,000 loan minimum
  • Loan terms from one to six years
  • Up to 100% MSRP financing
  • $40.00 processing fee

Effective Date: Tuesday, February 7, 2023

New Motorcycle: Year 2022 or Newer
Minimum Loan Term Rate APR Financing Payment per $1,000 Borrowed
$1,000.00 1 Year 6.990% 8.675% Up to 100% MSRP $86.52
$1,000.00 2 Year 6.990% 7.876% Up to 100% MSRP $44.77
$1,000.00 3 Year 6.990% 7.596% Up to 100% MSRP $30.87
$1,000.00 4 Year 7.490% 7.955% Up to 100% MSRP $24.17
$1,000.00 5 Year 7.490% 7.868% Up to 100% MSRP $20.03
$1,000.00 6 Year 8.490% 8.814% Up to 100% MSRP $17.77

APR: Annual Percentage Rate is based on a $10,000.00 loan amount, unless otherwise noted.

Existing LFCU loans excluded.

REQUIRED - $50.00 VSI insurance fee on all vehicle loans.

REQUIRED - $75.00 VSI insurance fee on commercial vehicle loans.

REQUIRED - Guaranteed Asset Protection (GAP) insurance on loans having a 90% or higher loan to value.

Apply Now

Used Motorcycle: Year 2021 - 2013

Purchase a used motorcycle with a model year between 2013 and 2021.

  • $1,000 loan minimum
  • Loan terms from one to five years
  • $40.00 processing fee

Effective Date: Tuesday, February 7, 2023

Used Motorcycle: Year 2021 - 2013
Minimum Loan Term Rate APR Financing Payment per $1,000 Borrowed
$1,000.00 1 Year 8.490% 10.181% 95% NADA Retail $87.22
$1,000.00 2 Year 8.490% 9.382% 95% NADA Retail $45.45
$1,000.00 3 Year 8.490% 9.101% 90% NADA Retail $31.56
$1,000.00 4 Year 8.490% 8.959% 90% NADA Retail $24.64
$1,000.00 5 Year 8.990% 9.374% 90% NADA Retail $20.75

APR: Annual Percentage Rate is based on a $10,000.00 loan amount, unless otherwise noted.

Existing LFCU loans excluded.

REQUIRED - $50.00 VSI insurance fee on all vehicle loans.

REQUIRED - $75.00 VSI insurance fee on commercial vehicle loans.

REQUIRED - Guaranteed Asset Protection (GAP) insurance on loans having a 90% or higher loan to value.

Apply Now

Smart Start Auto/Truck: Year 2013 or Newer

First time vehicle buyers and students can benefit from our special auto loan option.

  • For borrowers between the ages of 18 and 25
  • $15,000 maximum loan
  • Loan terms from one to five years
  • 0.125% rate reduction with GAP Insurance; 0.125% rate reduction with Mechanical Repair Insurance
  • No processing fee

Effective Date: Tuesday, February 7, 2023

Smart Start Auto/Truck: Year 2013 or Newer
Maximum Loan Maximum Term Base Rate/APR Optional Rate Reduction(s) (see below for additional options) Financing
$15,000.005 Year0.125% off Quoted Auto Loan Rates for Year and Term Selected0.125% with GAP Ins; 0.125% with Mechanical Repair Ins.90% Sales Price; 10% Down Payment REQUIRED

APR: Annual Percentage Rate is based on a $5,000.00 loan amount, unless otherwise noted.

Financing available up to maximum of 90% of the vehicle sales price; Smart Start Auto Loans require a 10% cash down payment.

Borrower must be between the ages of 18 and 25; borrower is required to establish a minimum of one month current employment history with proof of income; no previous auto loan; no derogatory credit; borrower may earn an additional 0.125% rate discount with a minimum passing grade of 80% on the “Beginners Guide to Credit” Quiz.

Borrower may earn an additional 0.125% rate discount with a direct deposit and/or automatic loan payment to/from an active LFCU share draft checking account.

Maximum Payment to Income ratio equal to 25% (ratio includes P&I PYMT and Insurance PYMT); Maximum Debt to Income ratio equal to 35%.

Tax, Title, and License Fee check is disbursed by the Credit Union to be submitted directly to the Registry by the borrower.

REQUIRED - $50.00 VSI insurance fee on all vehicle loans.

REQUIRED $75.00 VSI insurance fee on commercial vehicle loans

REQUIRED - Guaranteed Asset Protection (GAP) insurance on loans having a 90% or higher loan to value.

Apply Now

The Hybrid Go Green Vehicle Loan

We will reward members who drive environmentally gentle vehicles by reducing their approved auto loan rate by up to 0.25% APR*.

  • The rate discount is based on the vehicle’s EPA designation at the time the loan is approved. Please specify the vehicle type at the time of the loan application.
  • The U.S. Environmental Protection Agency (EPA) scores all vehicles based on calculated greenhouse gas emissions and fuel economy. The most environmentally friendly vehicles receive SmartWay or SmartWay Elite designation.

*APR: Annual Percentage Rate.

Go Green offer excludes all other rate discounts.

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New RV/Power Sport/Water Craft: Year 2023 or Newer

Buy a new boat, ATV, snowmobile, or recreational vehicle.

  • $1,000 loan maximum
  • Loan terms from one to 15 years
  • Up to 100% MSRP financing
  • $40.00 processing fee

Effective Date: Tuesday, February 7, 2023

New RV/Power Sport/Water Craft: Year 2023 or Newer
Minimum LoanTermRateAPRFinancingPayment per $1,000 Borrowed
$1,000.001 Year8.990% 9.932%100% MSRP$87.45
$1,000.002 Year8.990% 9.487%100% MSRP$45.68
$1,000.003 Year8.990% 9.331%100% MSRP$31.80
$1,000.004 Year9.490%9.621%100% MSRP$25.12
$1,000.005 Year9.490% 9.705%100% MSRP$21.00
$1,000.007 Year10.490% 10.651%100% MSRP$16.86
$1,000.0010 Year15.990% 16.124%100% MSRP$16.75
$1,000.0015 Year16.990% 17.098%100% MSRP$15.38

APR: Annual Percentage Rate is based on a $10,000.00 loan amount, unless otherwise noted.

REQUIRED - $50.00 VSI insurance fee on all vehicle loans

REQUIRED - $75.00 VSI insurance fee on commercial vehicle loans.

REQUIRED - Guaranteed Asset Protection (GAP) insurance on loans having a 90% or higher loan to value.

Apply Now

Used RV/Power Sport/Water Craft: Year 2022 - 2004

Buy a used boat, ATV, snowmobile, or recreational vehicle.

  • $1,000 loan maximum
  • Loan terms from one to 10 years
  • Up to 100% NADA retail financing
  • $40.00 processing fee

Effective Date: Tuesday, February 7, 2023

Used RV/Power Sport/Water Craft: Year 2022 - 2004
Minimum Loan Term Rate APR Maximum FinancingPayment per $1,000 Borrowed
$1,000.001 Year10.490%10.963%100% NADA Retail$88.14
$1,000.002 Year10.490% 10.740%100% NADA Retail$46.37
$1,000.003 Year10.490%10.662%95% NADA Retail$32.50
$1,000.004 Year10.490% 10.755%95% NADA Retail$25.60
$1,000.005 Year10.990%11.208%95% NADA Retail$21.74
$1,000.007 Year16.490% 16.665%90% NADA Retail$20.14
$1,000.0010 Year17.990% 18.130%90% NADA Retail$18.01

APR: Annual Percentage Rate is based on a $10,000.00 loan amount, unless otherwise noted.

REQUIRED - $50.00 VSI insurance fee on all vehicle loans.

REQUIRED - $75.00 VSI insurance fee on commercial vehicle loans.

REQUIRED - Guaranteed Asset Protection (GAP) insurance on loans having a 90% or higher loan to value.

Apply Now

LUSO FEDERAL CREDIT UNION LOAN POLICIES:

Applicant(s) must be a Luso Federal Credit Union (LFCU) member or eligible for LFCU membership.

LFCU Membership: live, work, worship, or attend school in Hampden County; or family members of current members.

A valid drivers’ license and proof of residence is required on all new LFCU membership accounts.

Applicant(s) must maintain a LFCU share account in good standing with a $5.00 minimum balance.

Financing not to exceed applicable NADA retail value including tax, license, and warranty.

Applicant(s) are subject to income verification – two most recent pay stubs REQUIRED; no exceptions.

Self Employed applicants require copies of tax returns – two most recent years; no exceptions. All co-applicants are subject to LFCU review.

Approvals are good for 30 days; no exceptions.

Insurance binder is required with Luso Federal Credit Union listed as lien holder. Maximum $500.00 deductible; 30 day binders accepted.

REQUIRED $50.00 VSI Insurance fee on all vehicle loans; REQUIRED $75.00 VSI Insurance fee on commercial vehicle loans.

Registration and title applicant(s) must match contract; no exceptions.

LFCU will not finance salvaged, straw or lemon law purchases and/or buy-back deals; no Power of Attorney. Contact LFCU for commercial and/or business deal financing.

GAP Insurance REQUIRED on Motor Vehicle Loans Exceeding 90% NADA Value.

  • Motor Vehicle GAP Plus - $395.00
  • Powersport GAP Plus - $425.00
  • Recreational Vehicle GAP Plus - $425.00
  • Watercraft GAP Plus - $425.00

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