Vehicle Loans

Vehicle Loans

1.74%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 Model Year)—Up to 100% financing on the purchase price with terms up to 84 months**
  • Used Automobile (2006-2014 Model Years)—Up to 100% financing on the National Automobile Dealers Association (NADA) retail value with terms up to 60 months
  • Recreational Vehicle—Up to 75% financing on the purchase price up to $55,000 with terms up to 180 months
  • New Motorcycle (Current Model Year)—Up to 95% financing on the purchase price up to $40,000 with terms up to 60 months
  • Used Motorcycle (2006-2014 Model Years)—Up to 90% financing on the purchase price up to $40,000 with terms up to 48 months

*Annual Percentage Rate. Rates quoted are subject to change without notice. Rate shown applies to members with highest credit score and reflect a 0.25% discount for members who have direct deposit into a Salem Seaport Credit Union checking account. Other rates are available based on credit score. Current Salem Seaport Credit Union Auto Loans are not eligible for refinancing. Living, working or attending school in Essex County makes you eligible for membership.

**For loans over $25,000.

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. Rates quoted are subject to change without notice. Rate shown applies to members with highest credit score and reflect a 0.25% discount
for members who open a new checking account from Salem Seaport and opt for automatic withdrawal of their monthly auto loan payment from this checking account. Other rates are available based on credit score. Current Salem Seaport Credit Union Auto Loans are not eligible for refinancing. Living, working or attending school in Essex County makes you eligible for membership.
** For loans over $25,000.