Vehicle Loans

Vehicle Loans

1.99%APR*

With a Salem Seaport CU vehicle loan, every car is a smart car. In fact, with our competitive rates and convenient terms, we can put you in the new or used car, truck, recreational vehicle or motorcycle you have your eye on. Take advantage of our wheel deals and see how, sometimes, getting on the right course means getting on the right road.

Start the ignition. For a quick approval, we invite you to apply online (seaportcu.org/Lending/Vehicle-Loans), or pick up an application at our Lafayette Street office; it’s next to Salem State University. As always, please don’t hesitate to contact us at 978.744.1153 or info@seaportcu.org if you have any questions.

Terms in Months Financing/Maximum Loan Limit

  • New Automobile (Current Year) Up to 84 Months**. Up to 100% of Purchase Price
  • Used Automobile (2005-2013) Up to 60 Months. Up to 100% of NADA Retail Value
  • Recreational Vehicle Up to 180 Months. 75% Purchase Price. Maximum $55,000.00
  • Motorcycle (Current Year) Up to 60 Months. 95% Purchase Price. Maximum $40,000.00
  • Motorcycle (2005-2012) Up to 48 Months. 90% Purchase Price. Maximum $40,000.00

**Loans over $25K

Rates on auto, motorcycle and recreational vehicle loans will be determined by member’s credit rating.
*APR = Annual Percentage Rate. APR based on highest credit score. Terms up to 72 months available. Payments for 72 months are $14.75 per $1,000 borrowed. 100% financing of purchase price available. Existing Seaport Credit Union auto loans are not eligible for this program. Other terms and rates available based on credit score. Rates subject to change at any time and without notice. Model years 2009-2012 only. Living or working in Essex County makes you eligible for membership. Other rates are available based on credit score.

These Rates Accurate as of
New Auto
(100% Financing)
Term APR*
up to 48 months 1.99%
60 months 1.99%
72 months 1.99%
84 months 2.99%
Used Auto 2010-2013
(100% Financing)
Term APR*
up to 48 months 1.99%
60 months 1.99%
Used Auto 2008-2009
(100% Financing)
Term APR*
up to 48 months 2.99%
60 months 2.99%
Used Auto 2005-2007
(100% Financing)
Term APR*
24 months 6.50%
36 months 6.75%
48 months 7.00%
60 months 7.25%
New Motorcycle
(95% Financing)
Term APR*
up to 60 months 7.00%
Used Motorcycle 2004-2012
(90% Financing)
Term APR*
up to 48 months 7.50%
Recreational Vehicles
Term APR*
up to 180 months 9.00%

*APR = Annual Percentage Rate. The rates quoted are subject to change without notice.
Rates shown are for members with the highest credit scores. Other rates are available based on credit score. Members must borrow a minimum of $25,000 to finance for 84 months.