Clean energy vehicle loan
Finance an electric or hybrid vehicle with a 0.25 percentage-point rate discount if you qualify for credit union membership.
Diese Finanzierungsmöglichkeit ist derzeit auf Englisch beschrieben.
USC Credit Union lends money to buy a new or used electric or hybrid vehicle. You repay the loan in monthly payments with interest; the clean energy discount reduces the annual percentage rate (APR), the annual borrowing-cost rate.
The published purchase terms run from 36 to 84 months. For 100% financing of vehicles from model year 2024 onwards, the advertised lowest APRs are 4.69% for 36 months, 4.94% for 48 months, 5.19% for 60 months, 5.44% for 72 months and 5.94% for 84 months. These rates already include a combined 0.75 percentage-point discount for qualifying borrowers: 0.25 points for an electric or hybrid vehicle, 0.25 for automatic payments from a USC Credit Union checking account, and 0.25 for maintaining an active PremiumSpend checking account. Discounts cannot reduce the rate below 4.44%. Relationship discounts may stop if you no longer qualify. Your actual rate depends on the lender’s assessment of your credit and other lending criteria, and rates can change.
Minimum borrowing is $8,000 for 60 months, $15,000 for 72 months and $25,000 for 84 months. Purchase rates do not apply to existing USC Credit Union auto loans.
Subject to approval, financing can reach 120% of the lender’s vehicle-value basis: manufacturer’s suggested retail price for a new vehicle or retail Kelley Blue Book value for a used vehicle, including tax, licence fees and optional protection products. Creditworthiness, model year and other lending criteria affect approval.
Eligibility
Your vehicle must be electric or hybrid. You must meet the lender’s credit and underwriting criteria. At financing, you need a valid driver’s licence and current insurance information; proof of income may also be required.
You can join USC Credit Union through any of these routes:
- You are a current USC employee, faculty or staff member, enrolled student, or alumnus.
- You live, regularly work or currently attend school in Los Angeles County or Orange County, California, or operate a business, corporation or other legal entity in either county.
- You are an employee or student of Woodbury University in Burbank or AltaMed.
- You are in an existing member’s immediate family or household.
Immediate family includes a spouse, child, sibling, parent, grandparent, grandchild, stepparent, stepchild and adopted relationships. Household members must live in the same residence and participate in maintaining one household economy; examples include domestic partners, roommates, legal guardians and live-in helpers. A domestic partner must be able to demonstrate the relationship with reasonable evidence, such as shared ownership or debt. Membership fees may apply.
How to apply
- Status
- Laufende Antragstellung
- Beschränkungen dieser Antragsrunde
- Membership and loan approval are required.[^c3][^c6]
Check the membership eligibility page and use its Join Now route if you need to become a member. Apply or get pre-approved through USC Credit Union’s online auto-loan application; the product page also has separate new-vehicle and used-vehicle application links. The lender assesses your application and sets your actual rate. Have the required driving licence and current insurance information available at financing, and provide proof of income if requested.