Used Car Loans

Our loan officers are prepared to help you meet all of your financial needs. Either come in for pre-approval, or wait until after you have found the vehicle you are looking for. All of the loans at New Century have no pre-payment penalties.

The maximum amount of the loan is determined by 90% of the retail value listed in the NADA appraisal guide. Collector vehicles are subject to qualifying appraisal. Semi-tractors and trailers will require a qualified appraisal or invoice from a dealer who is selling the tractor or trailer.

The maximum term available is for five years. During the term of the loan New Century Federal Credit Union will be placed as the lien holder, and will be provided by the member. Proof of full coverage insurance must be provided and maintained throughout the term of the loan. Current rates are listed here.

If the vehicle is four years or older, special interest rates apply and the length of the loan repayment is limited to a maximum of 36 months. Cars older than ten years, that are not considered collector vehicles, are not eligable for finance through New Century.

It is also possible to set up your loan to be paid automatically by a payroll deduction. In addition to financing your vehicle, New Century offers Credit Life and Disability Insurance to protect you against unforseen events that can happen.