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 $50,000 and with alternative credit up to $20,000 with a 15% down-payment and up to $50,000 with a 30% down-payment. Get your clients started today!
To apply for a loan applicants must:
- Be a Latino CU member (open a share account with a $10 minimum balance and $10 one-time membership fee)
- Provide proof of income or, if they are self-employed, provide their last two (2) tax returns
- Provide completed pre-qualification form
- Have utility bills paid on time as proof of alternative credit and/or established traditional credit
- Have paid in full all collection(s) or judgement(s) (certain exceptions exist for medical collections)
- 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 72 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? |
|---|---|---|---|
| $50,000 Individual | 30% | No | Yes |
| $20,000 | 15% | No | Yes |
| $50,000 Individual $60,000 Joint | 5% | Yes (1 year) | No |
