New Auto/Truck: Year 2019 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
  • $25.00 processing fee
  • $25.00 application fee

*Restrictions apply.

Effective Date: Saturday, March 28, 2020

New Auto/Truck: Year 2019 or Newer

Minimum LoanTermRateAPRFinancingPayment per $1,000 Borrowed
$1,000.001 Year1.999%3.387%Up to 100% MSRP$84.24
$1,000.002 Year1.999%2.723%Up to 100% MSRP$42.54
$1,000.003 Year1.999%2.490%Up to 100% MSRP$28.64
$1,000.004 Year2.499%2.872%Up to 100% MSRP$21.91
$1,000.005 Year2.499%2.800%Up to 100% MSRP$17.75
$1,000.006 Year2.999%3.253%Up to 100% MSRP$15.19
$1,000.007 Year3.499%3.720%Up to 100% MSRP$13.44

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.

Used Auto/Truck: Year 2018 - 2017

Purchase a used vehicle with a model year of 2017 or 2018.

  • $1,000 loan minimum
  • Loan terms from one to six years
  • Up to 100% NADA retail financing
  • $25.00 processing fee
  • $25.00 application fee

Effective Date: Saturday, March 28, 2020

Used Auto/Truck: Year 2018 - 2017

Minimum LoanTermRateAPRMaximum FinancingPayment per $1,000 Borrowed
$1,000.001 Year1.999%3.387%100% NADA Retail$84.24
$1,000.002 Year1.999%2.723%100% NADA Retail$42.54
$1,000.003 Year1.999%2.490%100% NADA Retail$28.64
$1,000.004 Year2.499%2.872%100% NADA Retail$21.91
$1,000.005 Year2.499%2.800%100% NADA Retail$17.75
$1,000.006 Year2.999%3.253%100% NADA Retail$15.19

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.

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

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.

Used Auto/Truck: Year 2016 - 2015

Purchase a used vehicle with a model year of 2015 or 2016.

  • $1,000 loan minimum
  • Loan terms from one to five years
  • Up to 100% NADA retail financing
  • $25.00 processing fee
  • $25.00 application fee

Effective Date: Saturday, March 28, 2020

Used Auto/Truck: Year 2016 - 2015

Minimum Loan Term Rate APR Maximum Financing Payment per $1,000
Borrowed
$1,000.001 Year1.999%3.387%100% NADA Retail$84.24
$1,000.00 2 Year 1.999%2.723%100% NADA Retail$42.54
$1,000.003 Year1.999%2.490%100% NADA Retail$28.64
$1,000.004 Year2.499%2.872%100% NADA Retail$21.91
$1,000.005 Year2.499%2.800%100% NADA Retail$17.75

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.

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

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.

Used Auto/Truck: Year 2014 - 2010

Purchase a used vehicle with a model year between 2010 and 2014.

  • $1,000 loan minimum
  • Loan terms from one to four years
  • Up to 95% NADA retail financing
  • $25.00 processing fee
  • $25.00 application fee

Effective Date: Saturday, March 28, 2020

Used Auto/Truck: Year 2014 - 2010

Minimum Loan TermRateAPRMaximum FinancingPayment per $1,000
Borrowed
$1,000.00 1 Year 1.999% 3.387% 95% NADA Retail $84.24
$1,000.00 2 Year 1.999% 2.723% 95% NADA Retail $42.54
$1,000.00 3 Year 1.999% 2.490% 95% NADA Retail $28.64
$1,000.00 4 Year 2.499% 2.872% 90% NADA Retail $21.91

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.

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

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.

New Motorcycle: Year 2019 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
  • $25.00 processing fee
  • $25.00 application fee

Effective Date: Saturday, March 28, 2020

New Motorcycle: Year 2019 or Newer

Minimum Loan Term Rate APR Financing Payment per $1,000 Borrowed
$1,000.00 1 Year 2.999% 4.382% Up to 100% MSRP $84.69
$1,000.00 2 Year 2.999% 3.717% Up to 100% MSRP $42.98
$1,000.00 3 Year 2.999% 3.484% Up to 100% MSRP $29.08
$1,000.00 4 Year 3.499% 3.875% Up to 100% MSRP $22.36
$1,000.00 5 Year 3.499% 3.803% Up to 100% MSRP $18.19
$1,000.00 6 Year 3.999% 3.755% Up to 100% MSRP $15.42

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.

Used Motorcycle: Year 2018 - 2010

Purchase a used motorcycle with a model year between 2010 and 2018.

  • $1,000 loan minimum
  • Loan terms from one to five years
  • Up to 95% NADA retail financing
  • $25.00 processing fee
  • $25.00 application fee

Effective Date: Saturday, March 28, 2020

Used Motorcycle: Year 2017 - 2009

Minimum Loan Term Rate APR Financing Payment per $1,000 Borrowed
$1,000.00 1 Year 2.999% 4.382% 95% NADA Retail $84.69
$1,000.00 2 Year 2.999% 3.717% 95% NADA Retail $42.98
$1,000.00 3 Year 2.999% 3.484% 90% NADA Retail $29.08
$1,000.00 4 Year 3.499% 3.875% 90% NADA Retail $22.36
$1,000.00 5 Year 3.499% 3.803% 90% NADA Retail $18.19

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.

Smart Start Auto/Truck: Year 2010 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
  • $25.00 processing fee
  • $25.00 application fee

Effective Date: Saturday, March 28, 2020

Smart Start Auto/Truck: Year 2008 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.

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.

New RV/Power Sport/Water Craft: Year 2020 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
  • $25.00 processing fee
  • $25.00 application fee

Effective Date: Saturday, March 28, 2020

New RV/Power Sport/Water Craft: Year 2020 or Newer

Minimum LoanTermRateAPRFinancingPayment per $1,000 Borrowed
$1,000.001 Year4.999%6.397%100% MSRP$85.61
$1,000.002 Year4.999%5.732%100% MSRP$43.87
$1,000.003 Year4.999%5.499%100% MSRP$29.97
$1,000.004 Year5.999%6.382%100% MSRP$23.48
$1,000.005 Year5.999%6.310%100% MSRP$19.33
$1,000.007 Year5.999%6.262%100% MSRP$16.57
$1,000.0010 Year7.499%7.669%100% MSRP$11.87
$1,000.0015 Year9.999%10.131%100% MSRP$10.75

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.

Used RV/Power Sport/Water Craft: Year 2019 - 2000

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
  • $25.00 processing fee
  • $25.00 application fee

Effective Date: Saturday, March 28, 2020

Used RV/Power Sport/Water Craft: Year 2019 - 2000

Minimum Loan Term Rate APR Maximum FinancingPayment per $1,000 Borrowed
$1,000.001 Year4.999%6.397%100% NADA Retail$85.61
$1,000.002 Year4.999%5.732%100% NADA Retail$43.87
$1,000.003 Year4.999%5.499%95% NADA Retail$29.97
$1,000.004 Year5.999%6.382%95% NADA Retail$23.48
$1,000.005 Year5.999%6.310%95% NADA Retail$19.33
$1,000.007 Year5.999%6.262%90% NADA Retail$16.57
$1,000.0010 Year7.499%7.669%90% NADA Retail$11.87

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.

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