What types of loans does Honda FCU offer?
We offer a wide variety of loans at Honda FCU. We have vehicle loans which include automobiles, motorcycles, ATVs, boats and personal watercraft. We have signature (unsecured) loans up to $15,000. We offer two types of Visa cards, the VISA Classic and the VISA Gold.
We also offer a variety of real estate loans. For more information, go to Real Estate Loans.
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What are your current interest rates?
Interest rates on our consumer loans (excluding VISA Gold cards) are determined by past credit history. Once your application has been submitted, a member service representative can determine the exact rate you will qualify for and discuss payment options with you.
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How much will the Credit Union loan on a car?
We can finance up to 100% of the retail price plus tax & title and insurances.
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Do you require a down payment?
Not necessarily; however, every application for credit is evaluated on its own merits. Providing a down payment can improve the chances of your application being approved.
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Should I get a pre-approved loan?
Absolutely! By getting your loan pre-approved, you can find out how much you can afford before you make a purchase. A pre-approved loan is good for 60 days from the date approved.
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What happens if the dealer will not give me the amount that I owe for my trade?
You may need to pay the remaining balance on that loan. We may be able to offer you an unsecured loan to payoff the difference.
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I filed bankruptcy 5 years ago, can I get a car loan?
It depends on your credit history after the bankruptcy and how you’ve handled your finances since then.
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Which vehicle book value should I use?
For loans, we can lend up to high retail value of a car. We use Black Book, NADA, and Blue Book price guides. The mileage of the vehicle helps determine the value and the loan term.
If you're selling a vehicle - generally we suggest you look at the retail/wholesale value, the condition of the car, and check the local papers to see what similar vehicles are selling for in your area to determine a fair selling price.
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Is there a penalty if I pay my loan off early?
No.
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How do I apply for a loan?
You have several application options for our consumer loan products. You may apply for a loan over the telephone, 24 hours a day, 7 days a week, by dialing (800) 63-Honda then pressing 2 and then 1 to apply for a new loan.
You can complete a one-page application available in any of our credit union offices or call our member service center and have an application faxed to you. To print an application from this web site, go to Loan Application. You may also apply for a loan online through internet banking.
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What are my loan payment options?
If you are a Honda associate, you can elect to make payroll deduction payments to your Honda FCU loan. You also have the option of setting up a weekly, bi-weekly, or monthly automatic transfer payment from a Honda FCU deposit account or having monthly coupons issued for mail payments.
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Can I get a car loan for my son and help him establish credit at the same time?
Yes, a loan with your son as co-borrower will help him establish credit. In this case, the title to the vehicle may be in either name.
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What are qualifications to get a loan with Honda FCU?
To qualify for a loan with Honda FCU, you must be a member of Honda FCU, be at least 18 years of age, have a regular income and have an adequate credit history.
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