Erie Police Federal Credit Union

NEW LOANS RATES (Effective 1/15/2025)

New & Used Car

2025-2023 Model Year

24 months: 4.99%

36 months: 5.24%

48 months: 5.37%

60 months: 6.24% (Min. value of car $20,000)

72 months: 6.74% (Min. value of car $25,000)

84 months: 7.74% (Min. value of car $30,000)

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Used Car

2022-2019 Model Year

24 months: 5.64%

36 months: 6.14%

48 months: 6.30%

60 months: 7.24%  (Min. value of car $20,000)

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Note: Cars older than 2019 model year minimum loan amount $5,000.00 @8.99%.

Maximum term is 48 months.

 

The above base rates apply to members with a Credit Score between 660 and 699:

Credit Score of 750 or higher will receive a 0.50% discount, 700 - 749 will receive a 0.25% discount;

Credit Score of 601 – 659 will have a 0.50% add-on & Credit Scores below 600 will have a 0.75% add-on.

Pre credit approval will receive 0.25% discount.  

 

Auto loans where  the loan value exceeds the NADA Value will carry a slightly higher rate: ask the loan officer for details

Adders are as follows: 0.5% for deficiency of $250.00 - $1,000.00; 1.0% for deficiency of $1,001.00 - $2,000.00;

1.5% for deficiency of $2,001.00 - $3,000.00 and 2.0% for deficiency of $3,001.00 - $,3500.00

 

SECURED PERSONAL LOAN LIMITS

$15,000 at 8.50%

Refinancing only after 6 months and balance below $7,500

 

UNSECURED PERSONAL LOAN LIMITS

up to $10,000 for a maximum of 48 months

(rates will be based on credit worthiness, term and other conditions per the schedule)

 

SPECIAL LOAN CATEGORY/LEGAL ENTITY

Up to $50,000.00 at 4.5%.  Max term of 60 months

 

 

Maximum total indebtedness to Erie Police Federal Credit Union, including your loans and loans you co-signed for: $75,000.00

Members can have only three (3) loans at any one time

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