Many credit unions and banks allow you to borrow money against the equity in your home. At OAS FCU, we also have this type of loan available for your vehicle. If you’ve paid off your car, or you have equity in it, you may be able to use it for an Auto Equity Loan. Having a secured loan helps you save money, since you’ll get a lower rate. Depending on how much of your car you’ve already paid off, you can borrow up to 125% of your car’s equity. You’ll also enjoy convenient repayment terms up to 7 years in length.
Use your loan to cover medical expenses, vacations, and more
This calculator is for informative purposes only and the results ore not application results or quotes. Based on your credit history and repayment ability, you might not qualify for the loan term you selected, the amount provided by the calculator, and your loan might be denied.
* APR means annual percentage rate. This is a variable indexed rate based on the Prime Rate published by The Wall Street Journal. Using that rate as reference and, as it fluctuates, your loan rate may change on any of the following dates: the last day of March, June or September or December. An increase in rate might affect your payment amount. OAS FCU lists rate ranges that are applied during loan evaluation. Based on the results of your credit evaluation and the analysis of your repayment ability, you might be approved for a smaller loan than you requested; your loan might also be denied.
Vehicle Loan Special – Fixed Rate, for New and Used Vehicles
APR*
Term
Type of vehicle
7.99% - 15.99%
Up to 5 years
New & Used (3 Years Old - 2022 or newer)
7.74% - 15.74%
Up to 5 years
New & Used (3 Years Old - 2022 or newer) Hybrid/Electric cars only
This fixed interest rate loan special is available for the purchase of new and used vehicles up to 3 years old.
*APR means annual percentage rate. This is a limited time offer. Based on the results of your credit evaluation and the analysis of your repayment ability, your rate will be within this range, and/or you might be approved for a smaller loan than you requested; your loan might also be denied.
Boats, Motorcycle and RVs – Variable Rate
Type
APR*
Term
Loan Amount
New
7.75% - 17.75%
Up to 5 years
Any, when approved
Used
8.25% - 18.00%
Up to 5 years
Any, when approved
* APR means annual percentage rate. This is a variable indexed rate based on the Prime Rate published by The Wall Street Journal. Using that rate as reference and, as it fluctuates, your loan rate may change on any of the following dates: the last day of March, June or September or December. An increase in rate might affect your payment amount. OAS FCU lists rate ranges that are applied during loan evaluation. Based on the results of your credit evaluation and the analysis of your repayment ability, you might be approved for a smaller loan than you requested; your loan might also be denied.
FAQs
The Auto Equity loan applies only to OAS STAFF FCU members.
Yes, this loan qualifies for our Skip-a-Payment program.
With Skip-a-Payment you have the ability to skip up to two (non-consecutive) monthly credit union loan payments each year, whenever it's most convenient for you.
To enroll, complete the Skip-a-Pay form, indicating the month you would like to skip your payment, and return it to the Credit Union at least five days before your payment is due.
You can complete your application in Online or Mobile Banking, or send an email to: [email protected]
The equity of your vehicle is its current established value. To find out the current established value, we use the current NADA value, and subtract from it the balance of any car loan that you have outstanding. The remainder is your equity.
Fees
Loan Fees
Processing vehicle titles
$50 + DMV cost
Skip-a-Payment
$5 each loan
Single debit origination to pay for a loan
No charge
Recurrent monthly debit origination to pay for loan
No charge
Late fee for consumer loans
4% of the monthly payment after 30 days past due
Late fee for HELOCs
4% of the monthly payment after 10 days past due
Late fee for mortgages
5% of the monthly payment after 15 days past due
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