The WOW Auto Loan is a great option if you are paying too much on your car loan such as:
- You owe more than their vehicle’s current NADA/ “blue” book value
- You have a high interest rate or payment on your auto loan
- You need to buy a newer vehicle and you lack a down payment
- You don’t have savings set aside to cover an unplanned vehicle repair bill
Members who use this product:
- Owe more than the current value of their vehicle
- Have a high interest rate or monthly payment
- Want to buy or refinance with a “fair and affordable” rate and monthly payment
- Pay their bills on time
- Have been at their current job and address for at least 12 months
- Would like to review options for lowering their monthly bills
Terms
- Borrow up to $30,000 for a vehicle that is the model year 2010 or newer
- The vehicle’s value must equal and secure at least 70% of the loan amount
- Financial Counseling is available for free and may be required if you have not yet established a timely payment history or have outstanding collections
Other Requirements:
A checking account and direct payroll deposit are required with Opportunities along with an electronic payment as part of this account. You are encouraged to use our free E-banking services, automated account alerts, financial education, and counseling to help with timely payments.
