FAQ Category: Vehicle
What are today’s auto loan rates?
Today’s auto loan rates: Auto Loan Rates (for new vehicles) Auto Loan Rates (for used vehicles) 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). ...
Continue ReadingWhat is AutoPay?
AutoPay is a convenient service that automatically withdraws your loan payment each month from your People Driven Credit Union checking or savings account. It helps you stay on track, avoid late fees, and may even qualify you for our ¹Special Loan Rate Discount. To enroll in AutoPay, please call us at 248-263-4100 and a representative will assist you with setup.
Continue ReadingWhat’s the ¹Special Loan Rate Discount?
Our ¹Special Loan Rate Discount offers a 0.25% APR reduction when you set up automatic payments (AutoPay) for your loan from a People Driven Credit Union checking or savings account. This discount is already included in the “as low as” rate advertised. To enroll in AutoPay and receive the discount, please call us at 248-263-4100. A representative will assist you ...
Continue ReadingAre ATV loans available for both new and used vehicles?
Absolutely. We offer financing options for both new and pre-owned ATVs. Terms and rates may vary based on the vehicle’s condition and age.
Continue ReadingCan I get pre-approved for an ATV loan?
Yes, our pre-approval process lets you know your borrowing power before you start shopping for your perfect ATV.
Continue ReadingWhat types of ATVs can I finance?
Our ATV loans cover a variety of all-terrain vehicles designed to enhance your off-road adventures, including, ATVs, UTVs (Utility Task Vehicles), side-by-sides (sxs) four-wheelers, quad bikes, recreational off-highway vehicles (ROVs), and multipurpose off-highway utility vehicle (MOHUV). Have something in mind and wondering if PDCU will finance it? Call us as 248-463-4100.
Continue ReadingWhat documentation will I need?
You’ll generally need proof of income, a look at your credit history, and details about the watercraft you wish to finance. Our team is here to help every step of the way. For more information or personalized assistance, please contact a People Driven Credit Union representative at 248-263-4100.
Continue ReadingHow long does the approval process take?
Our application process often provides pre-approval decisions quickly, and final approval typically takes just a few days once all documentation is submitted.
Continue ReadingDo I get any benefits with autopay?
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.
Continue ReadingIs a down payment required?
A down payment may be needed, depending on your credit profile, the value of the vehicle or watercraft, and the specific loan structure. While not always required, a down payment can lower your monthly payments and the total amount of interest paid. Our representatives will guide you through the requirements. Call 248-263-4100 to speak with a PDCU loan officer.
Continue ReadingWhat loan terms are available?
Loan terms are flexible and can be tailored to fit your financial situation. At People Driven Credit Union, loan terms for recreational vehicles such as ATVs, motorcycles, boats, snowmobiles, and campers generally range from 12 to 180 months. Longer terms can lower monthly payments but may result in higher total interest paid.
Continue ReadingAre these loans available for both new and used watercraft?
Yes, PDCU finances both new and pre-owned watercraft. Rates and terms may differ, so our team can help you find the best option based on your needs.
Continue ReadingCan I get pre-approved for a boat loan?
Absolutely. Our pre-approval process gives you a clear idea of your borrowing power before you start shopping, simplifying your purchasing journey.
Continue ReadingWhat interest rate can I expect?
Interest rates vary based on factors like your credit score, loan term, and the age of the vehicle or watercraft. People Driven Credit Union offers competitive rates to make financing accessible and affordable for our members. Call 248-263-4100 to speak with a PDCU loan officer about the loan rate you can expect.
Continue ReadingWhat types of watercraft can I finance?
You can finance a variety of recreational watercraft, including boats, jet skis, and wave runners. If it floats, People Driven Credit Union can probably finance it.
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