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:
- You owe more than the current value of their vehicle and/or have a high interest rate and monthly payment.
- You pay your bills and loan payments on time.
- You have been at their current address and job for at least 12 months.
- You need help in looking at all of your payments to reduce your monthly bills.
- You want to buy or refinance with a “fair and affordable” rate and payment!
- Borrow up to $30,000 for a vehicle that is model year 2010 or newer.
- The vehicles 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.
- A checking account and direct payroll deposit is 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.