Auto, Recreation and Sports Vehicle Loans

Shopping for a new car or pre-owned, an RV, boat or motorbike…? A first-time buyer, or just looking to refinance a lease buy-out...? Parsons Federal Credit Union has the resources and experience you need to secure a simple, financially-smart loan! You auto try us. Really.

10 tips for financing an auto - click here for the list

Why finance with PFCU? - click here and see!

Read these important instructions before applying.

New Auto Loans

If it’s time to buy that new green machine to help our planet. Or maybe you have your eye on a hard-working truck, or even a nice moon rover. PFCU has some of the most competitive Vehicle loan programs and rates available in the marketplace today, offering:

  • Up to 100% financing available, including tax, license &  GAP
  • Terms up to 72 months*
  • No pre-payment penalties
  • Pre-Approval before you shop — for a bargaining edge at the dealer, & so you know exactly how it fits into your budget
  • We can refinance a new Vehicle purchase too — so if you take the dealer financing & decide you want to lower your rate &/or payment, see how we compare!

Click here for Current Rates and Terms for New Vehicle Loans

How much will my auto payment be?

Note: Parsons Federal Credit Union is unable to finance vehicles registered to a business. *Minimum loan amount $15,000 for 72 month loans

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Pre-owned Auto Loans

Prefer a vehicle with the kinks already worked out for you? Pre-owned is a great way to go — and PFCU can help you finance your purchase, refinance your existing vehicle loan* or buy out your existing lease. Check out our competitive rates and flexible terms!

Pre-Owned Auto Purchase

When you’re buying a pre-owned vehicle…

  • Finance up to 100% of Kelley Blue Book Wholesale Value including  GAP
  • Model years 2008 and newer are eligible for financing
  • Minimum Loan Amount $5,000
  • Terms up to 72 months**

Note: *Existing PFCU auto loans not eligible for refinancing. **72 Month Vehicle Loans only available for loans $15,000 and over.

Private Party Purchases

If you’re buying your vehicle through a private party, speed up the process by providing these documents & info with your application:

  • Original Certificate of Title if the seller is not currently financing the vehicle
  • Signed Authorization of Payoff from Seller (if there is a financing lien)
  • Copy of most recent statement or payment coupon which lists lenders phone number and address
  • Written inspection or photographs of the vehicle, including current mileage & all equipment options*
  • Copy of the current vehicle registration document

Note : *May be obtained from an authorized dealer. We do not finance vehicles purchased on EBay, Craigslist or from auction

Refinancing Auto Loans from Another Lender

If you’re refinancing a vehicle loan currently financed through another lender, gathering these items will help us process your application as quickly as possible:

  • Written inspection or photographs of the vehicle, including current mileage & all equipment options
  • Copy of the current vehicle registration documents
  • Copy of most recent statement or payment coupon which lists lenders phone number & address

Note: Due to privacy concerns, lenders may not release information about your loan directly to us. We may ask that you obtain payoff information about your loan and forward it to us.

Lease Buy-outs

Love your leased car so much you can’t bear to part with it? PFCU can also help finance your lease buy-out, with a loan that’s treated as a pre-owned vehicle loan with our standard rates and terms. In addition to the needed documents we’ve listed in that section, also provide with your application the Lease Buy-out instructions from your leasing company that shows:

  • Amount required to terminate the lease
  • A condition report
  • Instructions for completing the DMV paperwork.

Due to privacy concerns, most leasing companies will not provide information about your lease directly to us. Also, the leasing company involved may direct you to an affiliated auto dealer to complete the lease termination procedure. In such cases, the dealer will assist you in completing our loan paperwork.

Click here for Current Pre-Owned and Refinanced Vehicle Loan Rates

How much will my auto payment be?

Note: Parsons Federal Credit Union is unable to finance vehicles registered to a business.

Apply Now

RV & Boat

If the open road — or open waters — call to you in a big way, PFCU can offer financing for the purchase or refinance of new and pre-owned RVs and boats. We offer low, fixed-rate financing and competitive terms, on loans that offer smooth sailing all the way!

  • Financing for powerboats, sail boats, motor homes and travel trailers
  • New & pre-owned (2008 & Newer Model Years)
  • Up to 100% Financing on loan amounts up to $100,000
  • Terms up to 180 months
  • No prepayment penalties

For complete terms and details for a specific loan type, we invite you to contact a PFCU Loan Officer at (800) 765-4527.

Check out our Current RV and Boat Loan Rates

Click here for a handy loan payment calculator

Apply Now


OK, you know you’re been eyeing it…! So, why not hit the highway on that new or pre-owned motorcycle — with a loan from PFCU that offers low, fixed rates and terms that fit every budget.

  • New and pre-owned motorcycle loans (2008 model year & newer)
  • Terms up to 60 months
  • Borrow up to $30,000
  • Minimum 10% Down Payment Required
  • Financing available for up to Kelly Blue Book Trade-in Value or NADA Guide Low Retail Value

Motorcycles must be fully registered and "street legal" (no off-road, motor-cross or pocket type motorcycles). To secure motorcycle financing, borrowers are required to have a valid Motorcycle License and have completed an accredited motorcycle drivers education course.

For complete terms and details, please contact a PFCU Loan Officer at 800-765-4527 ext. 385.

Check out our current Motorcycle Loan Rates

Click here for a handy loan payment calculator

Apply Now

1st Time Buyer Vehicle Loans*

Vehicle loans are a great way to establish and build credit — or rebuild it when need be. Unlike many dealers, banks or finance companies, we don’t penalize our members for their lack of credit history with sky-high interest rates and mandatory co-borrowers. Our 1st Time Buyers or Credit Builders get the same great, low fixed rates a member with established credit would — which is totally the PFCU way!

We only require that applicants are …

  • At least 18 years of age
  • Have a valid driver's license
  • Have been employed for at least 12 months

To help ensure that our members don’t "get in over their heads," the maximum loan amount for a 1st Time Buyer Vehicle loan is $20,000.  The required  down payment could be as low as 5%*.

Click here for current Vehicle Loan Rates

How much will my auto payment be?

Note: *Subject to credit approval

Apply Now

Shopping for a vehicle loan is a lot like shopping for the car itself—you want to be sure you’re getting the best deal possible! But, keep in mind that a lower rate doesn’t necessarily mean you’re going to save money. Dealers will often offer you a lower or comparable rate, but watch out for hidden fees and stipulations!

Before making a decision, ask your Dealer the following questions:

1) What are the terms of the loan? When dealers offer “lower” rates, they usually come with a maximum loan term of 36-months –which means your monthly payments will be higher. PFCU offers terms up to 72 months for new and pre-owned vehicle loans, with flexible terms and rates that allow you monthly payments that fit your budget. (See example A below)

2) Are there any application or documentation fees? Most dealers (and banks!) will charge you an application or documentation fee, which is usually about $100. Adding this amount to your loan, even with a “lower” dealer rate, may cost you more money in the end. PFCU does not charge application or documentation fees.

3) Is the Dealer offering a rebate? If you choose the dealer’s rebate plan, you forego the low or zero-interest rate loan. Adding the rebate to your down payment can make PFCU financing very attractive – because the larger down payment reduces the amount financed. (See example B below)

4) Are there any pre-payment penalties? At times you may want to pay a little bit more than your minimum monthly payment, or pay off the loan early. Some dealers will not allow these pre-payments and will charge you a penalty fee if you pay your loan off early. PFCU does not charge any pre-payment penalties.

Example A:


@ 5.50% APR*
60-mo. Term

Dealer Loan
@ 6.00% APR*
36-mo. Term

Loan Amount



Monthly Payment



Note: *APR=Annual Percentage Rate

Example B:


@ 5.50% APR*
36-mo. Term

Dealer Loan
@ 0.0% APR*
36-mo. Term

Purchase Price



Minus Dealer Rebate



Loan Amount



Monthly Payment



Total Loan



By taking the rebate, you save $432.92!

Note: *APR=Annual Percentage Rate

Apple Pay Now Available for Visa Credit and Debit cards!

Apple Pay Now Available to Parsons Federal Credit Union Members Offering an Easy, Secure & Private
Way to Pay. Click here for more information.


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