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.

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.

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.

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.

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.

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.

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.

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 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.

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.

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