You can apply easily online, over the phone, or in person at any one of our branches. Generally, your loan request can be processed in minutes. of vehicle loans.
Blank Check Auto Loan
Get pre-approved and start shopping with our Blank Check Auto Loan - The most convenient way to buy your next vehicle.
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New/Used Cars
When financing a car, JHFCU may be your lowest cost option, and there are other benefits to financing with the Credit Union as well. Rates are typically 2-3 percentage points lower than what banks or finance companies offer, and even though special dealer rates may be lower, it's most likely because they will charge you more for the car if you take the low rate. In most cases you have the choice between a rebate and a lower rate. Taking the rebate and applying it toward the purchase generally works out much more favorably for you!
The Credit Union offers flexible terms of 36, 48, 60, 72 or 84 months including a variety of repayment options. Rate is determined by an evaluation of the applicant's credit. The vehicles cannot be more than 7 years old and/or exceed 125,000 miles, and must be purchased through a franchised dealership. If the vehicle does not meet these requirements, it can be financed at our unsecured loan rate, for qualified applications.
Protect Your Investment.
We provide GAP and Debt Protection for most of our loans.
Closing Your Loan.
Funding your loan is easy at JHFCU. We settle most of our loans electronically through DocuSign, so you never have to leave your home or office. You always have the option to settle at a branch or by mail.
Buy Now, Pay Later!
Purchase a car and finance with JHFCU and your first payment will be delayed up to 90 days!*
*By skipping your first payments, up to 90 days, you extend your maturity date approximately up to three months. Credit insurance coverage you have on this loan does not cover any deferred payment. Since loan interest still continues to accumulate, your final payment on this loan may increase. This option is subject to change or may be discontinued at any time.
Refinancing
In order to refinance your vehicle, we need a few key pieces of information:
- We will need to know who the car is currently financed through
- Your current lender will need to send you a 10-day payoff with per-diem (interest accruing daily)
- We would need a copy of the vehicle title, VIN and mileage of your vehicle
Once information is received by our lending department, they will determine whether or not the vehicle can be refinanced. In order to be eligible for refinancing, we look at the following:
- LTV (Loan-to-value) which cannot exceed 135% - we determine this by using a system called “NADA”.
- Credit Worthiness – we will pull your credit in order to determine loan eligibility.
- Good standing Credit Union account.
Documents would then be processed via Docusign so, there’s no need to come in for loan processing – it can be done from the convenience of your own home. Once the loan is finalized, JHFCU mails a check to your old lender and you would begin
to make payments to the CU. You also have the option of deferring your first payment for 90 days.
Private Party Vehicle Purchase
Because private party sales can vary by state, please call or email us for details on what is needed for private party sales.
Other Vehicles
You can also finance your new or used boat, RV, motorcycle, or mobile home with JHFCU - Rates.
Use the Equity in your Home
A Home Equity loan & Lines of Credit are another financing alternative for your vehicle purchase. With low rates and no closing costs*, and the possibility of tax-deductible interest**, a JHFCU Home Equity loan may be worth considering. Contact the Credit Union for more details.
*The closing costs will be paid by JHFCU provided you take a minimum $10,000 draw at closing. The closing costs will be added back to the loan payoff balance if the loan is paid off within the first three years and are only paid by JHFCU one time per property with the Home Equity Line of Credit. Access your home equity line via Online Banking, Telebranch 24, or in person.
**Consult a tax advisor for specifics.
Contact our Lending Department at [email protected] or 410-534-4500 if you have any questions.