Used Auto Loans
If you’re shopping for a used vehicle, you’ll find a used auto loan is specifically geared toward your situation.
You’ll be able to pay off your loan faster with lower monthly payments when you go used rather than new.
A used vehicle in good condition will save you thousands, but it can still require some upfront financing. A used auto loan is the perfect way to finance your purchase since you’ll (generally) have shorter terms than new car loans can provide you.
Some of the advantages of OUCU used auto loans include:
- Occasionally lower rates than new car loans
- Shorter terms, meaning you’ll pay your loan off sooner
- Lower monthly payments due to an overall smaller loan amount
- Friendly, individualized service from our representatives
Used Auto Loan Rates
OUCU used auto loans range between 3.24% and 4.24% for vehicles between three and five years old, depending on the term of the loan. Typically, these loans last between 12 and 72 months, with longer terms requiring higher rates.
OUCU used auto loan rates are typically lower than what you’ll find at many other institutions!
It’s worth noting that loans for older cars tend to have significantly higher rates, but at OUCU, you’re still likely to have lower interest rates than you’d get with a traditional bank.
Get your quote. Call or Apply Online Now.
Used Auto Loan Resources
Not sure what terms you’re looking for when qualifying for a used auto loan? The following resources may help you figure out what’s best for you.
Used Auto Loan Resources & Calculators
Other Loan Resources
Used Auto Loans FAQ
You start by applying for pre-approval, which allows you to know exactly how much car you can afford.
Just follow these steps:
Step 1: Apply online or by phone
Step 2: Get a quick response with a pre-approval letter
Step 3: Shop for your vehicle
Step 4: Have your dealer send us a purchase agreement
We’ll walk you through the closing process, after which you can drive off in your dream car.
In order to qualify for OUCU membership, you’ll need to meet one of the following easy requirements:
Be a student, alumni, or employee (current or retired) of Ohio University
Be a student, alumni, or employee (current or retired) of Hocking College
Be a part of one of these organizations.
Be a relative of a current and eligible member
Contact us at firstname.lastname@example.org with any questions you have about eligibility.
OUCU delivers more personalized service and more favorable rates over for-profit institutions, enabling us to truly look after our members’ financial wellbeing. As such, we help you streamline the process of choosing the right used car for your needs.
In addition, we provide:
Numerous financial and car-buying resources
Flexible loan terms
Lower interest rates, starting at 2.99% APR
A simple, user-friendly borrowing experience
Many financial services and products
Individual member services
Going for used or new depends on your financial situation and your preferences.
New car loans offer you:
Lower rates than on older cars (six years and older)
Increased vehicle lifespan
Fewer mechanical issues with the vehicle
Longer loan life (up to 84 months), giving you more time to pay it off
On the other hand, used auto loans afford these benefits:
Shorter loan terms (up to 72 months), letting you get your loan paid off sooner
Smaller loan amounts, making monthly payments easier
Lower overall interest since these loans are often smaller and paid off faster
Start Finding The Right Car For You With Used Auto Loan Pre-Approval
As you shop for the right vehicle for your budget, we can help you through used car loan pre-approval. Talk to one of our expert representatives to get started.