EcoSmart Vehicle Loan
Loans for Ontario credit-union members buying new or used electric or hybrid vehicles, electric bikes, scooters or pedal bicycles.
Esta oportunidade está atualmente disponível em inglês.
Kingston Community Credit Union lends money for eligible transport purchases, which you repay under an agreed repayment plan. Electric and hybrid vehicle loans have terms of 1–5 years, with payments calculated over a repayment schedule of up to 10 years. The loan term and the full repayment schedule can therefore differ. You can repay the loan in full at any time without penalties.
For electric bikes, scooters and pedal bicycles, the loan term is 1–3 years. These loans also allow repayment in full at any time without prepayment penalties. Life, disability and critical illness insurance is optional for both routes.
The advertised EcoSmart Vehicle Loan interest rate starts at 5.20%, subject to credit approval and change. KCCU asks applicants to call to confirm rates.
Eligibility
- You must become a KCCU member. Membership requires living or working in Ontario, a Social Insurance Number, valid identification, proof of your living address and a one-time minimum membership share purchase of CAD 25 for adults or CAD 5 for youth.
- KCCU requires one piece of photo identification and may check your credit report when opening your account. If you cannot provide an accepted identification option, contact KCCU or book an appointment to discuss alternatives. Health cards from any province are not accepted.
- Electric and hybrid vehicles can be new or used. The offer also covers electric bicycles, scooters and pedal bicycles.
- Lending rates depend on approved credit. Youth membership accounts must be opened at a branch with a parent or guardian; this membership option does not itself establish eligibility for a loan.
How to apply
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- Membership and credit approval requirements apply.[^c5][^c8]
Apply through KCCU’s Loan Application, which asks for personal and contact information. If you are a new member, use KCCU’s membership page to apply online or arrange an in-branch appointment.