Why Choose Latino Credit Union?
Not only is a LCCU a great option with our competitive rates, low fees, fast approval and closing, but we also offer financing with credit history up to $80,000 and with alternative credit up to $40,000 with a 15% down-payment and up to $80,000 with a 30% down-payment. Get your clients started today!
To apply for a loan applicants must:
- Be a Latino Community Credit Union member (open a share account with a $10 minimum balance and $8 one-time membership fee)
- Provide proof of income (paystubs and most recent W2) or, if they are self-employed, provide their last 6 deposit account statements or last tax returns
- Submit completed credit application form
- Have utility bills paid on time as proof of alternative credit and/or established traditional credit
- If approved, vehicle must be registered with NCDMV with a valid driver’s license
Vehicle Specifications
New and pre-owned vehicle financing is available up to 84 months for new and used vehicles meeting the following criteria:
| Maximum Loan Amount | Minimum Down Payment | Traditional Credit History Required? | Alternative Credit (Utility Bills) Accepted? |
|---|---|---|---|
| $80,000 Individual or joint | 30% | No | Yes |
| $40,000 (New Vehicle) $30,000 (Used Vehicle) | 15% | No | Yes |
| $80,000 Individual or Joint | 5% | Yes | No |
