Rates
Last Updated: April 18, 2016
| New Auto Loan | APR* | Maximum Term** | Pmt/100 |
|---|---|---|---|
| Apply Online Download Application | 2.990% | 3 Years | $29.08 |
| 3.490% | 4 Years | $22.35 | |
| 3.990% | 5 Years | $18.41 |
Maximum of 100% of purchase price of vehicle not previously registered. Rates reflects a .25% discount for automatic payment from a Mechanics Cooperative Bank Checking Account. Add .25% to the new auto loan rates if automatic payment is not taken from a Mechanics Cooperative Bank Checking Account.
| Used Auto Loan | APR* | Maximum Term** | Pmt/100 |
|---|---|---|---|
| Apply Online Download Application | 5.500% | 3 Years | $30.20 |
| 5.750% | 4 Years | $23.37 | |
| 5.990% | 5 Years | $19.33 |
Lesser of 100% of purchase price or 100% of NADA Retail. Rates reflects a .25% discount for automatic payment from a Mechanics Cooperative Bank Checking Account. Add .25% to the used auto loan rates if automatic payment is not taken from a Mechanics Cooperative Bank Checking Account. Autos older than 2009 to receive personal loan rates.
| Personal Loan | APR* | Maximum Term** | Pmt/100 |
|---|---|---|---|
| Apply Online Download Application | 13.50% | 3 Years | $33.94 |
Minimum $500 / Maximum $10,000.00. Rate reflects a .25% discount for automatic payment from a Mechanics Cooperative Bank Checking Account. Add .25% to the personal loan rates if automatic payment is not taken from a Mechanics Cooperative Bank Checking Account.
| Passbook Installment Loan | APR* | Maximum Term** | Pmt/100 |
|---|---|---|---|
| Apply Online Download Application | 3.10% | 5 Years | $2.97 |
Only one loan is to be outstanding against any one passbook. Sample loan rate above will be 3.0% greater than the current rate of the Deposit account. Loan amount should not exceed 90% of passbook balance. Minimum loan is $500.00. Rate may increase after consummation. Passbook secured loan rates are subject to increase if the deposit rate increases. Rate and payment indicated above are based on a passbook rate of .50% and interest only payments.
| New Recreational Vehicle Loan | APR* | Maximum Term** | Pmt/100 |
|---|---|---|---|
| Apply Online Download Application | 8.50% | 4 Years | $24.65 |
| 9.00% | 5 Years | $20.76 |
Maximum of 80% of purchase price of vehicle not previously registered. Rates reflects a .25% discount for automatic payment from a Mechanics Cooperative Bank Checking Account. Add .25% to the new recreational vehicle loan rates if automatic payment is not taken from a Mechanics Cooperative Bank Checking Account.
Last Updated: April 18, 2016
| Commercial Equipment Loan Rates | APR* | Maximum Term |
|---|---|---|
| Minimum of 20% Down in Cash or Trade.Automatic payment from a Mechanics Cooperative Bank checking or savings account is required. |
4.990% | 2 Years |
| 5.490% | 3 Years | |
| Minimum of 20% Down in Cash or Trade. Automatic payment from a Mechanics Cooperative Bank checking or savings account is required. |
5.740% | 4 Years |
| 5.990% | 5 Years | |
| 6.990% | 7 Years |
*Annual Percentage Rate.
**Five years equals 60 fixed monthly payments. Four years equals 48 fixed monthly payments. Three years equals 36 fixed monthly payments. Product offers, rates and all terms and other information provided are subject to change without notice. A minimum down payment of 20% will be required on all recreational vehicles unless noted otherwise. The down payment must bring the loan amount to a value not to exceed NADA Wholesale Value. A purchase order must be submitted with all vehicle loan applications. Minimum monthly payment on all consumer loans is $30.00. Non-title security (U.C.C., etc.) will be considered at a rate of 0.50% higher than the above title vehicle rates. Single interest insurance must be obtained on all automobile and motorcycle loans. Insurance binder is required on all vehicle financing before loan proceeds are disbursed.
Product offers, rates and all terms and other information provided on this web site are subject to change without notice.
