Auto Loans

Members Plus offers competitive rates on both new and used vehicle loans, including those for boats, motorcycles and recreational vehicles!

Apply for your New or Used Auto Loan today or call 781-905-1500. We make it easy!

New Auto – Rates as low as 6.24% APR*

At Members Plus Credit Union, we will make sure to fit you into the right auto loan that is affordable for you. We offer low rates, convenient terms, and financing up to 100% of the National Automobile Dealer Association (NADA) retail value. A vehicle qualifies for a new loan if it is a current or previous model year that has been driven less than 7,500 miles.

  • Weekly, biweekly or monthly payment options
  • Set up automatic payments from your MPCU savings or checking account, or from another financial institution.
  • Pre-approvals available
  • Low-cost disability insurance and life insurance (optional)

Make sure you ask about GAP Protection when you get your loan from Members Plus!  GAP Protection pays the difference between your vehicle insurance company’s settlement and the remaining loan amount (directly related to the vehicle purchase), up to the maximums allowed by the credit union and/or state, in the event your vehicle is stolen or damaged beyond repair.

 

Used Auto – Rates as low as 6.49% APR**

Looking for a used car? Start with Members Plus! We offer low rates, convenient terms, and financing up to 100% of the National Automobile Dealer Association (NADA) retail value. A vehicle qualifies for a used loan if it is a model year listed in the current edition of the regular NADA Used Auto Valuation Guide.

    • Weekly, biweekly or monthly payment options
    • Set up automatic payments from your MPCU savings or checking account, or from another financial institution.
    • Pre-approvals available
    • Low-cost disability insurance and life insurance (optional)

Apply for your Used Auto Loan today or call 781-905-1500.

 

*APR = Annual Percentage Rate. 6.24% APR is for a new car with terms up to 48 months and requires monthly payments of $23.60 per $1000 borrowed. **6.49% APR is for used cars with terms up to 48 months and requires monthly payments of $23.72 per $1000 borrowed. Other rates and terms are available. APRs are based upon member’s credit score.  Rates effective 4/23/2024 and subject to change without notice. Membership requires a $5 deposit in a share/savings account.

New CarsApply Now

Name Term (in months) APR**(As Low As) Cost Per Thousand***
Up to 4-Year Term 0-48 6.24% $23.60
5-Year Term 0-60 6.39% $19.52
6-Year Term 0-72 6.64% $16.89
7-Year Term 0-84 6.89% $15.05

Used CarsApply Now

Name Term (in months) APR**(As Low As) Cost Per Thousand***
Up to 4-Year Term 0 - 48 6.49% $23.72
5-Year Term 0 - 60 6.89% $19.76
6-Year Term 0 - 72 7.14% $17.13
7-Year Term 0 - 84 7.39% $15.29

Motorcycle

Name Term (in months) APR**(As Low As) Cost Per Thousand***
3-Year Term 0-36 6.49% $30.65
4-Year Term 0-48 6.64% $23.79
5-Year Term 0-60 7.14% $19.88
6-Year Term 0-72 7.64% $17.37

Boat and Recreational Vehicle Loans

Name Term (in months) APR**(As Low As) Cost Per Thousand***
New Recreational Vehicle 0 - 60 7.24% $19.93
Used Recreational Vehicle 0 - 36 8.24% $31.46
***APR=Annual Percentage Rate. Please note that the interest rate and fees shown here are available to members with an excellent credit history. The actual interest rate and fees available will be based on credit history, property type and loan transaction type, and may be different than the rates displayed here. **New Autos 2024 and 2023 with less than 7500 miles. ***Pre-Owned Autos 2011-2023 with greater than 7500 miles. VSI Insurance is required on all Auto Loans. Minimum Payment Requirements on all auto loans: $25.00 weekly, $50.00 biweekly and $100.00 monthly. A 7 year term may be granted for new or used auto loans in excess of $30,000.00.
***APR = Annual Percentage Rate.  APRs are based upon member’s credit score. Rates listed above reflect strong credit worthiness. Payments listed above do not reflect life and disability insurance. Rates and APRs effective October 3, 2024 and are subject to change without notice.
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