Electric vehicle loan
Loans for eligible credit-union members to buy a new or used electric vehicle or refinance an EV loan from another lender.
Denne finansieringsmuligheten er foreløpig beskrevet på engelsk.
America’s Christian Credit Union (ACCU) lends money for an electric vehicle purchase or to replace an EV loan from another lender. You repay the loan with interest in monthly installments, with terms up to 84 months. New vehicles can receive up to 100% financing including tax and licence costs; used vehicles can receive up to 100% of Kelley Blue Book value. ACCU treats a vehicle as new if its model year is no more than one year older than the current calendar year; older vehicles count as used.
For standard new and used auto loans, the maximum is $130,000. The minimum depends on the term: $500 for 36 months, $5,000 for 48 months, $10,000 for 60 months, $15,000 for 72 months and $25,000 for 84 months. Published starting annual percentage rates (APR) for new vehicles are 3.99%, 3.99%, 4.49%, 4.99% and 4.99% respectively; used-vehicle rates are 4.24%, 4.24%, 4.74%, 5.24% and 5.24%. These starting rates assume excellent credit and include the 0.50 percentage-point discount for automatic payments from an ACCU checking account. Your approved rate depends on creditworthiness. A $25 funding fee is added to the money you owe when you accept the rate and terms, increasing the balance and effective APR. A $2 membership fee may also apply.
A separate first-time buyer route offers $500–$25,000, with 36, 48, 60 or 72 monthly payments and published starting APRs of 6.54%, 6.99%, 7.49% or 7.74% respectively. It is designed for young adults with limited credit history and requires independent means of repayment or a qualified co-signer. Approval is not guaranteed.
You can request a first-payment deferral of up to 90 days. Interest continues to build up during that time, and you still owe the number of monthly installments chosen when the loan was funded. Current ACCU loans do not qualify for this promotion.
Eligibility
- You can start an application before joining ACCU, but must qualify for and complete membership to finish.
- Membership routes include alignment with a Christian church, ministry or school as a member, attendee, employee, volunteer, student or alumnus; being a family member living in an existing member’s household; or membership of Samaritan Ministries, Impact Health Sharing or Christian Care Ministry (Medi-Share).
- ACCU expects members and prospective members to be familiar with, agree with and conform to its Statement of Faith, reflecting its Christian commitment in the Wesleyan Holiness tradition.
- For ordinary auto loans, ACCU states a minimum credit score of 640. The separate first-time buyer route requires no credit history; a first-time buyer must have no previous car loan shown on their credit report and must have independent repayment means or a qualified co-signer. Not everyone qualifies individually.
- Refinancing is offered for EV loans from lenders other than ACCU.
How to apply
- Status
- Løpende søknader
- Vilkår for søknadsrunden
- Membership must be completed before finishing the loan process.[^c6]
Schedule an auto loan consultation with ACCU or call 1-800-343-6328 to get started. Nonmembers may begin the loan application before completing membership.
For refinancing, have the car mileage, vehicle identification number (VIN), current loan details, driver’s licence and income verification ready. ACCU’s refinance process includes a credit-file check, and a loan officer contacts you with final loan documents.