Auto Loan Options
Whether you are in the market for a new or pre-owned vehicle, we can provide you with a car loan package that meets your specific needs.
From new to pre-owned vehicles, land and sea, we have you covered every step of the way.
Ask us about the benefits of GAP Coverage… GAP coverage can be very beneficial with little expense. We offer very affordable GAP coverage that may be added right into your monthly loan payment!
Select Auto Loans Available
If you are currently repaying a car loan, we may be able to assist you in reducing your monthly payment and minimizing the overall expenses associated with your loan.
New Auto Loans
Ocean State Credit Union offers a variety of secured and unsecured consumer loan options. New Auto Loans must have full insurance coverage.
What are Secured Loans?
A secured loan is when collateral is used as security for the repayment of a loan. An example of a Secured Loan is when you buy a vehicle and use the car as collateral to secure repayment of the loan.
New Auto Loan Rates
| Minimum | Term | Rate (as low as) | Notes |
|---|---|---|---|
| Up to 36 Months | Refinance a New Auto 6.25% APR+ | 10% Down Payment or GAP Coverage | |
| Up to 60 months | New 6.00% APR or Refinance a New Auto 6.75% APR+ | 10% Down Payment or GAP Coverage | |
| $10,000 minimum | Up to 72 months | New 7.25% APR | 15% Down Payment or GAP Coverage |
| $20,000 minimum | Up to 84 months | New 7.75% APR | 15% Down Payment or GAP Coverage |
*APR = Annual Percentage Rate
Rates Are Subject To Change at anytime without notice
New Auto, Truck or Van Loans:
- OSCU will finance up to 100% of the purchase price plus the tax, warranty and license fee’s with GAP on the loan.
- Depending on the vehicle you buy, repayment terms range from 36 to 84 months.
- The interest rate is a fixed rate, for the term of your loan.
- Payments can be made automatically from your checking or savings account or by cash or check.
- Payment Protection is available.
Did you know that there are more ways to bank with OSCU? Bundle Services & Get Even More Member Benefits!
Pre-Owned Auto Loans
- OSCU will finance up to 100% of NADA retail book value for used autos, eight model years old or less with Guaranteed Asset Protection (GAP).
- Terms of repayment range from 24 to 60 months for vehicles which are eight years old or less, depending on the year of the vehicle.
- Payments can be made automatically from your checking or savings accounts or by cash or check.
- Payment Protection is available.
| Vehicle Year | Term | Rate (as low as) | Notes |
|---|---|---|---|
| Model Year 2025-2026 | 60 Months | 6.25% APR | 15% Down Payment or GAP Coverage |
| Model Year 2023-2024 | 48 Months | 7.00% APR | 15% Down Payment or GAP Coverage |
| Model Year 2021-2022 | 36 Months | 7.00% APR | 15% Down Payment or GAP Coverage |
| Model Year 2019-2020 | 24 Months | 7.00% APR | 15% Down Payment or GAP Coverage |
| Older Vehicles | 24 months | 10.00% APR | 15% Down Payment or GAP Coverage |
*APR = Annual Percentage Rate
Rates Are Subject To Change at anytime without notice
Motorcycle Loans
Must have full insurance coverage.
| Vehicle Year | Term | Rate (as low as) | Notes |
|---|---|---|---|
| New | 36 months | 6.50% APR | 15% Down Payment or GAP Coverage |
| New | 60 months | 6.75% APR | 15% Down Payment or GAP Coverage |
| Used | 36 months | 7.50% APR | 15% Down Payment or GAP Coverage |
*APR = Annual Percentage Rate
Rates Are Subject To Change at anytime without notice
New Recreational Vehicle Loans
Must have full insurance coverage.
| Borrowed Amount | Term | Rate (as low as) | Notes |
|---|---|---|---|
| $25,000 and less | 84 months | 9.75% APR | 20% Down Payment |
| $25,001 to $35,000 | 120 months | 9.75% APR | 20% Down Payment |
| $35,001 to $50,000 | 180 months | 9.75% APR | 20% Down Payment |
| $50,001 and Higher | 180 months | 9.75% APR | 20% Down Payment |
*APR = Annual Percentage Rate
Rates Are Subject To Change at anytime without notice
Pre-Owned Recreational Vehicles
Must have full insurance coverage.
| Borrowed Amount | Term | Rate (as low as) | Notes |
|---|---|---|---|
| $25,000 and less | 84 Months | 10.00% APR | 20% Down Payment |
| $25,001 to $35,000 | 120 Months | 10.00% APR | 20% Down Payment |
| $35,001 to $50,000 | 120 Months | 10.00% APR | 20% Down Payment |
| $50,001 and Higher | 120 Months | 10.00% APR | 20% Down Payment |
*APR = Annual Percentage Rate
Rates Are Subject To Change at anytime without notice
New Boat Loans
Larger boats will require Marine Mortgage documents. *240 month term on boats over $50,000 require a Balloon Payment.
| Borrowed Amount | Term | Rate (as low as) | Notes |
|---|---|---|---|
| $25,000 and less | 84 months | 8.00% APR | 20% Down Payment |
| $25,001 to $35,000 | 120 months | 8.00% APR | 20% Down Payment |
| $35,001 to $50,000 | 180 months | 8.00% APR | 20% Down Payment |
| $50,001 and Higher | 240 months* | 8.00% APR | 20% Down Payment |
*APR = Annual Percentage Rate
Rates Are Subject To Change at anytime without notice
Pre-Owned Boat Loans
Larger boats will require Marine Mortgage documents.
| Borrowed Amount | Term | Rate (as low as) | Notes |
|---|---|---|---|
| $25,000 and less | 84 months | 8.00% APR | 20% Down Payment |
| $25,001 to $35,000 | 120 months | 8.00% APR | 20% Down Payment |
| $35,001 to $50,000 | 180 months | 8.00% APR | 20% Down Payment |
| $50,001 and Higher | 180 months | 8.00% APR | 20% Down Payment |
*APR = Annual Percentage Rate
Rates Are Subject To Change at anytime without notice
Rates Effective as of January 27, 2023
DISCLOSURE: Ocean State Credit Union provides loan rates based on a risk rate schedule. The risk rate schedule carefully evaluates an applicant’s credit history, debt to income ratio, assets, and employment stability. Ocean State Credit Union is competitive in the market. Completing an application gives our loan officers the tools to provide you a rate that works for your financial needs.
APR = Annual Percentage Rate
Call For Vehicle Refinancing Rate 877-397-1900 | 401-397-1900
GAP Coverage Available. Some Restrictions Apply. Rates Are Subject to Change at anytime without notice.
USA Patriot Act: Important Information About Procedures for Filing a Loan Application with Ocean State Credit Union. To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you is that when you file a loan application with us, we will ask you for your name, address, date of birth and other information that will allow us to identify you. We will also ask to see your driver’s license or other identifying documents no later than at the time the loan is closed.