Electric vehicle auto loan discount
Eligible credit union members can finance an electric vehicle purchase with a 0.50 percentage-point reduction in their auto loan rate.
Esta oportunidade está atualmente disponível em inglês.
Tucoemas lends you money to buy an electric vehicle, which you repay with interest through monthly payments over the agreed term. The EV discount applies to a new direct auto loan. Rates are fixed unless otherwise stated, and your actual rate depends on credit history and creditworthiness. Tucoemas discloses your rate before you become obligated.
The EV reduction can be combined with other qualifying discounts, up to a total reduction of 1.00 percentage point per loan. Each of the following gives a further 0.25 percentage-point reduction: automatic payments; a qualifying new Tucoemas checking account with recurring direct deposits; existing membership over five years; or a new credit card alongside a new or used auto loan. A new member cannot use the five-year membership discount. Not all borrowers qualify for the maximum reduction.
You can repay over up to 60 months when financing up to $15,000, up to 72 months when financing more than $15,000, or up to 84 months when financing more than $20,000. The amount financed and your credit risk affect payment and term; some terms are unavailable for certain risk categories.
A payment made 10 days or more after its due date attracts a late charge of 5% of the monthly minimum payment, with a minimum charge of $15 and a maximum of $100.
Eligibility
- You must be a Tucoemas member and receive credit approval following the lender’s assessment.
- You can join if you live, work, worship or attend school in Tulare County, California. The membership page also lists spouses of someone who died while eligible for Tucoemas membership, and Tucoemas employees and members of their immediate families, households and organizations.
- For the employee-linked route, immediate family means spouses, children including stepchildren and adopted children, siblings including stepsiblings, parents including stepparents, and grandparents or grandchildren. Household members must live in the same residence and maintain a single economic unit; this includes permanent household members who help maintain it, such as a domestic partner or nanny.
- The loan cannot fund an out-of-state purchase, a vehicle with a salvaged title, a heavy-duty vehicle of more than one ton, or any commercial vehicle.
How to apply
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- Membership and credit approval are required.
If you are joining Tucoemas, use its membership contact or branch route. To open your account, provide government-issued identification and your physical and mailing addresses, and deposit as little as $5 into a Tucoemas Savings Account.
Apply through Tucoemas’s online auto loan application. Your actual loan rate is disclosed before you become obligated.