Vehicle Loan FAQs Vehicle Loan FAQs

Before you apply for an auto loan, you’ll want to have the following on hand:

• Valid ID—A driver’s license or passport
• Proof of income—Pay stubs from the last month, or bank account statements from the last 6 months
• Credit score—As a UW Credit Union member, you can check your credit score for free anytime in Web Branch.
• Proof of residence—A utility bill, bank statement or insurance policy indicating your current address
• Vehicle information—Year, make, model, Vehicle Identification Number (VIN) and the asking price of the vehicle you wish to purchase

Your interest rate is based on a number of things, including your credit score, the loan term (duration) and whether the vehicle you’re purchasing is new or used. Additionally, you can get a 0.25% lower rate just for having a Value or Premium checking account with us! For a general understanding of UW Credit Union’s available rates, terms and projected monthly payments, check out this chart.

Before you apply, take steps to ensure you have a healthy credit score. You’ll also need a general idea of the car you want, and how much you’d like to spend. In addition, be prepared to provide your Social Security number, income, and basic information about your current debts.

At UW Credit Union, you can get preapproved in minutes when you apply online.

Absolutely! You can make additional payments any time you’d like. The faster you pay off your loan, the more money you’ll save.

Visit our Online Payment Center to learn how.