Auto Loans

New and used auto loans from OUCU are offered with excellent terms at highly affordable rates, allowing you to invest in your freedom and accelerate your goals and dreams.

Beginning the process of receiving a loan is simple, and requires three short steps to complete.

Step 1. Consideration

• Apply for your Auto Loan Consideration Online or by phone at (740) 597-2800
• Indicate your total vehicle budget on your application sheet.
• There is no need to choose a vehicle yet. Pre-approval will last for a significant number of days, allowing you to find an adequate price point for your new car.

Step 2. Confirmation

• Get a quick answer from a bank officer within one or two business days after submitting your completed application.
• Once you are approved by OUCU as the lender, applicants will receive their pre-approval letter electronically or via mail.
• Using the pre-approval letter, shop for the vehicle that fits your lifestyle the best. Having pre-approval from an authorized lender will significantly increase your car purchasing process.

Step 3. Close

• Once you are ready to make a decision, have your car dealer send your local OUCU branch a copy of the purchase agreement.
• If there is no dealer involved, OUCU will help you close with a private seller. For more information about this process, please reach out to our Consumer Loans Department at (740) 597-2800.
• Signing for approval can be done on the go with any device connected to the internet, or in any one of OUCU’s local branches.

Apply Now to begin step one of the auto loan application process, or Contact Us directly for more information.

Choosing between a new or used vehicle is largely dependent on your budget, lifestyle, and travel-related needs. Both new and used auto loans come with their unique interest rates, term lengths, and lifespans.

Compare both the pros and cons of each loan and make a more informed financial decision for your vehicle of choice.

New Car Loans

• Lower APR – OUCU offers competitive annual percentage rates on all new car loans.
• Longer Terms – New car loans may hold term lengths of anywhere between 12 to 84 months.

Used Car Loans

• Smaller Loan Amount – Used vehicles in good condition enable you to reduce monthly payments and pay off your car faster.
• Shorter Loan Terms – Used auto loans hold term lengths between 12 and 72 months.

Both types of auto loans come with OUCU’s Skip-A-Pay option and affordable GAP insurance.

For more detailed information in determining your monthly loan payment, get an exact number using our Auto Loan Calculator.

You can qualify for OUCU membership in many different ways.

That includes employment or association with:

• Ohio University: Employees (active or retired), students, or alumni
• Hocking College: Employees (active or retired), students, or alumni
• Select Employee Groups: See the Full List Here
• Affiliate Organizations: See the Full List Here
• Family Members: Includes relatives of current AND eligible members (examples include parents, siblings, aunts and uncles, cousins, grandparents, in-laws, and beyond)

Receiving an approved auto loan begins with both membership and active savings account with a minimum balance of $10. Information regarding setting up your savings account can be found here.

Once you are accepted as a member of OUCU, you will never be forced to close or discontinue your accounts, even if you leave your qualifying employer or organization. All benefits, banking accounts, and auto loan options will remain available to you indefinitely.

For assistance in determining which type of membership is right for you, call us toll-free today at (800) 562-8420.

As a not-for-profit financial institution dedicated to helping our loyal members grow financially, OUCU is dedicated to providing personalized service and affordable interest rates that encourage your overall financial stability and wellbeing.

Choosing us as your auto loan lender greatly simplifies your vehicle buying journey and empowers you to meet both your financial and lifestyle goals.

By selecting an auto loan from OUCU, members receive:

• Substantially lower interest rates compared to other competitors
• Important auto financing and car purchasing resources
• Flexible terms and a unique assortment of payment plan options
• A user-friendly loan process with comprehensive assistance from bank professionals
• Highly personalized member services in all banking aspects, including savings and checking accounts
• Additional financial products and services exclusive only to OUCU members

Auto loans with OUCU Financial start as low as 5.99%% APR. All members of OUCU are welcome to apply for a loan at any time during the car purchasing process.

While there's no strict minimum, a higher credit score typically means better rates and terms. We consider multiple factors beyond the score, including income and debt-to-income ratio. We evaluate each application individually to find the best possible solution for your situation.

The total amount includes the vehicle price plus taxes and registration fees. We'll determine your loan amount during the approval process. Our team will work with you to explore various financing options tailored to your budget.

GAP coverage pays the difference between what you owe on your loan and what your insurance pays if your vehicle is totaled or stolen. This protection is especially valuable when you have a small down payment or choose a longer loan term. Many drivers find GAP insurance provides peace of mind against unexpected events.

You can typically refinance after making 6-12 monthly payments on time. We recommend waiting until your credit profile improves or interest rates have dropped significantly. Refinancing starts a new loan term and may affect your total interest paid.