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People Driven Credit Union

Classic Car Auto Loans

Unlock Your Dream Classic Car with People Driven Credit Union

Your Vintage Voyage Begins Here

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Classic Car Auto Loans

Ready to get behind the wheel of that cherished vintage ride? PDCU’s Classic Car Auto Loans help you finance classic and collectible cars (25 years or older) with loan terms and support built for enthusiasts.

Terms extend up to 96 months.

Membership and eligibility requirements apply, with approval subject to application, credit, and vehicle considerations. Loan approval depends on creditworthiness, vehicle appraisal, and individual eligibility.

Loan Rate Discount¹

Classic Car Auto Loan Rates as Low As

7.64%¹ APR*

¹Take advantage of a 0.25% discount when you enroll in autopay, already factored into the “as low as” rate. This discount applies to those who set up automatic payments from a People Driven Credit Union checking or savings account.

8.80%

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Why Choose Our Classic Car Loan?

  • Specialized Financing: Designed for vehicles 25+ years old with proof of collectible value.
  • Competitive Rates: Rates starting as low as 7.64%¹ APR* (with AutoPay discount).
  • Flexible Terms: Borrow for up to 96 months, subject to eligibility and collateral.
  • Up to 100% Financing: Depending on the appraised value and credit qualifications.

How It Works

Submit your loan application with documentation, including:

  • Vehicle age and condition assessment
  • Appraisal report from a licensed appraiser
  • Proof of insurance coverage

Loan approval depends on creditworthiness, vehicle appraisal, and individual eligibility.

5 Classic Car Buying Tips

TruStage® Auto & Home Insurance ProgramPeople Driven Credit Union Members save on the TruStage® Auto & Home Insurance Program

Designed for credit union members like you, the TruStage® Auto & Home Insurance Program provides affordable, top-quality protection. You could enjoy discounted rates combined with online convenience and 24/7 claims service.

Get your free quote online today or call 1-855-589-2146.*See disclosures below.

According to Consumer Reports®

“Choose a credit union for a car loan because those institutions often offer the lowest rates.” Another good reason to join People Driven Credit Union. The Best Used Car Loan Offer:

  • Available on new or pre-owned cars
  • Repayment options tailored for you
  • Pre-approvals are valid for 30 days
  • Save on a refinance even if you have just closed on a loan

People Driven Credit Union is a full-service credit union with branches and ATMs that are easily accessible around Metro Detroit and Southeast Michigan.

Classic Car (26 Years & Older) Loan Rates

For cars 26 Years or older. Must have appraisal by licensed appraiser.

Term

(Months)

≤36

37-48

49-60

61-72

APR*

as low as¹

 7.64% 8.80% 8.80% 9.20%
8.80%

 

Calculate Your Monthly Classic Car Auto Loan Payment

Monthly Payment

Loan Amount
$
%
Term Months
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Use of a calculator is not a guarantee of credit and is a estimate.

Frequently Asked Questions

Yes, enrolling in autopay may qualify you for a rate discount, reducing the overall cost of your loan. Check with our team for current promotional details.
Your credit score plays a big role in determining your loan's interest rate and terms. Borrowers with higher credit scores typically qualify for lower interest rates, while those with lower credit scores may face higher rates.
  • New auto loans apply to brand-new cars, trucks, vans, and vehicles five years old or newer. They often have lower interest rates because new cars typically have better collateral value.
  • Used auto loans apply to pre-owned vehicles older than five years; interest rates may be slightly higher since used cars have less value over time.
An auto loan is a type of financing that allows you to borrow money to purchase a vehicle. The loan is secured by the vehicle itself, meaning the lender can repossess the vehicle if you fail to repay the loan.
Missing a payment can result in late fees and negatively affect your credit score. Repeated missed payments may lead to vehicle repossession. It’s important to contact People Driven Credit Union as soon as possible if you anticipate any issues making payments on your loan from PDCU.
A down payment isn’t always required, but it’s generally a smart move. Putting money down reduces the amount you’ll need to borrow, which can lower your monthly payments and reduce the total interest paid over the life of the loan. At People Driven Credit Union, we offer 100% financing for new cars (5 years old or newer). For used cars (older than 5 years), we’ll finance up to 80% of the vehicle's value (LTV).
  • Auto loans: These are for purchasing a new or used vehicle.
  • Auto refinancing: You can replace your current auto loan with a new one, typically to get a lower interest rate or change the loan term.
Term lengths for auto loans from People Driven Credit Union range from 12 months (1 year) to 96 months (9 years). The longer the term, the lower your monthly payments, but you may pay more in interest over the life of the loan.

To apply for an auto loan with People Driven Credit Union, you will need:

  • A valid ID
  • Proof of income (like pay stubs or tax returns)
  • Employment information
  • Vehicle details (if you’ve already chosen one - the VIN #)
  • Proof of insurance
Yes, People Driven Credit Union offers pre-approval for auto loans. Pre-approval helps you understand how much you can afford and can give you leverage when negotiating with dealers.
People Driven Credit Union members can pay off an auto loan anytime with no penalty.
The amount you can borrow depends on several factors, including your credit score, income, debt-to-income ratio, and the age and value of the vehicle. People Driven Credit Union will typically fund a percentage of the vehicle’s value.
People Driven finances motor homes, campers, boats, motorcycles, ATVs and snowmobiles!
You may give us a call at 248-263-4100 to speak with the loan department.
Yes! All eligible loans can be skipped once per calendar year for a fee of $35. To learn more about how it works, visit our Skip-a-Payment page. Please note that Fresh Start Auto Loans, PD Quick Cash Loans, Lines of Credit, Mortgages, Commercial Loans, and Credit Cards are excluded.
  1. To make a payment via online banking with funds already in your account, login to the MyPDCU Online Portal or use the MyPDCU app, and select 'transfers'. Select where you want to transfer from and which loan you would transfer to.
  2. Call iTalk (telephone teller) at 844-700-7328 to make your payment. Select Option 2 to make a payment.
  3. To make a payment with a debit/credit card, call (248) 263-4100.
  4. Set up an auto-transfer from your People Driven account or attach an auto payment to your direct deposit that comes into your account. Give us a call at (248) 263-4100 or stop by any of our five branches.
  5. Have us set up an auto-payment from your other financial institution. Please call us at (248) 263-4100, and we can send you the proper form, or you may stop by any of our five branches.
  6. You may also mail in a check payable to People Driven Credit Union, 24333 Lahser Rd, Southfield, MI 48033
GAP (Guaranteed Asset Protection) insurance covers the difference between the cash value of your vehicle and the balance owing if the car is deemed a total loss, up to 150% LTV. GAP is a $575 one-time fee that can be rolled into the loan or paid in cash. GAP also provides a $1000 credit towards the next vehicle you finance through PDCU and unlimited auto deductible claims for up to five years, up to $500 per claim for any vehicle you own and insure.
  • Covers the difference between the outstanding loan balance and the actual value (determined by the insurance company) of the auto up to the max LTV.
  • Covers total loss AND unrecovered theft
  • May cover up to $1000 of the deductible if there is a gap after the insurance pays
GAP (Guaranteed Asset Protection) insurance is offered during the auto loan process.  Please call us at (248) 263-4100 for more information.

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Disclosures

*APR = Annual Percentage Rate: The actual APR and loan term is subject to approval and may be determined upon the borrower’s creditworthiness, the amount borrowed, and the type, value, age, and condition of the collateral offered to secure the loan (when applicable). Rates are effective as of today and are subject to change.

8.80%

¹Special Loan Rate Discount: Benefit from a .25% reduction when enrolling in our autopay service, which is included in the “as low as” rate advertised. The discount is available to those who setup autopay of their monthly loan payment from a People Driven Credit Union checking or savings account.

E H L. NMLS #776727. Federally insured by the NCUA. Equal Housing Lender. Membership and eligible vehicle requirements apply. Loan is subject to credit approval and appraisal.

Membership Requirement:

All accounts and loans require membership at People Driven Credit Union. Membership is available to individuals who live, work, worship, or attend school in the State of Michigan, as well as relatives of current members. To complete an application for any account or loan, you will need the following information:
  • A valid Driver's License, State ID, or Passport with your current address
  • Your Social Security Number
A Membership Share Savings Account is required to establish membership at People Driven Credit Union. A $5 deposit secures your ownership share in the credit union and unlocks access to our full suite of products and services. This account earns 0.01% APY with a $5 minimum deposit.

 

Risks & Requirements

  • Collateral Risk: Because this loan is secured by your vehicle, repossession may occur if payments are missed.
  • Loan-to-Value: Maximum financing is generally limited to 100% of the appraised vehicle value, depending on underwriting guidelines.
  • Credit and Eligibility: Loan terms and approval are subject to credit review, appraisal, and membership requirements.

 

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