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Most Recent Questions
Recent Question:
Can I change my vehicle after the DCU has sent the cheque for the Auto loan?
Recent Question:
Would I qualify for an auto loan?
Recent Question:
Does applying for a 2nd chance auto loan affect your credit score and/or put a hard inquiry on your credit?
Recent Question:
Can I apply to a loan with a foreign valid driver's licence?
Recent Question:
Need to close the loan
Questions with Most Recent Answers
Question:
Can I change my vehicle after the DCU has sent the cheque for the Auto loan?
Question:
Does applying for a 2nd chance auto loan affect your credit score and/or put a hard inquiry on your credit?
Question:
Would I qualify for an auto loan?
Question:
Can I apply to a loan with a foreign valid driver's licence?
Question:
Need to close the loan

Member questions and answers for
Auto Loans

Loans to help you buy new or used cars, trucks, and vans.
Member questions and answers:
123 Questions
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193 Answers
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Member questions and answers for Auto Loans

Question

When can I apply for an auto loan if the car is being built at the factory based on my order.

I ordered a new car at the dealer and placed a deposit. It's been about 2 weeks and the car still doesn't technically exist, however I am watching the build status daily. I don't yet have an expected completion date, delivery date or VIN. When can I apply for an auto loan from DCU. Because of the state of the car, the dealer cannot give a purchase sale agreement yet, I only have receipts for deposits made.
State: Massachusetts
Age: 45-54
DCU Member for: Less than 1 year
asked 2 years, 7 months ago
Member avatar
by
Volt Owner
Easthampton
on Auto Loans
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4 answers
Answers
answer 1
Hi,
I just did exactly what you are doing.
All I needed was a paystub and the Sales agreement after I completed the online application.
The paystub was easy but I needed to wait until a VIN was assigned to the vehicle before submitting the sales agreement. Sounds like you already have a VIN.
State: New Hampshire
Age: 45-54
DCU Member for: 10 to 20 years
answered 11 months ago
Member avatar
by
Rick
Laconia
0points
0out of 0found this answer helpful.
answer 2
You need to have VIN number to enter into a contract with the dealer, and the contract is required for the loan processing. However you can apply for approval in the mean time
State: California
Age: 35-44
DCU Member for: 10 to 20 years
answered 2 years, 7 months ago
Member avatar
by
BMP
San Jose
+1point
1out of 1found this answer helpful.
answer 3
You can apply for the car loan now and get pre-approved for the loan
State: California
Age: 55-65
DCU Member for: 10 to 20 years
answered 2 years, 7 months ago
Member avatar
by
garden mom
los gatos
+1point
1out of 1found this answer helpful.
answer 4
Auto loan pre-approvals are valid for 45 days. If your pre-approval happens to expire while your car is being built, you may simply contact us back to renew your pre-approval.
State: Massachusetts
answered 2 years, 7 months ago
Member avatar
by
DCU Staff
Marlborough
+3points
3out of 3found this answer helpful.
Question

Does DCU refinance car loans?

State: Massachusetts
asked 3 years, 4 months ago
Member avatar
by
DCU Member
Marlborough
on Auto Loans
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3 answers
Answers
answer 1
Yes, DCU will do refinance on car loans
State: New Jersey
Age: 45-54
DCU Member for: 10 to 20 years
answered 2 years, 5 months ago
Member avatar
by
Umesh
edison
+2points
2out of 2found this answer helpful.
answer 2
Yes! and they have great rates on newer vehicles, I definitely recommend refinancing with DCU
State: New Hampshire
Age: 25-34
DCU Member for: Less than 1 year
answered 2 years, 8 months ago
Member avatar
by
Kimber83
Hudson
+2points
2out of 2found this answer helpful.
answer 3
Yes, we have a Second Chance auto loan program. Please select here for more information.

For the current auto loan rates, please select here.
State: Massachusetts
answered 3 years, 4 months ago
Member avatar
by
DCU Staff
Marlborough
+6points
6out of 6found this answer helpful.
Question

If I were to buy a 2004 Volvo fot 13.5K and needed a loan, would i qualify? how much could I get?

State: Colorado
Age: 18-24
DCU Member for: Haven't joined yet
asked 1 year, 8 months ago
Member avatar
by
Person
Denver
on Auto Loans
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3 answers
Answers
answer 1
you could qualify for the whole amount. However your interest rates might be high. You will get better rates if you put some money down.

This is my personal opinion from personal experience. Call DCU for confirmation.
State: Virginia
Age: 35-44
DCU Member for: 10 to 20 years
answered 1 year, 8 months ago
Member avatar
by
Matt
burke
0points
0out of 0found this answer helpful.
answer 2
What is your current credit score / income? While I don't work for DCU I can give you an idea.

A score of 710 and income of $35,000 with no other debts would likely get you approved with the lowest interest rate.

The amount you'll qualify for a loan on would be based on your debt to income ratio; the rate you'll pay will be based on your credit score.
State: Georgia
Age: 25-34
DCU Member for: 10 to 20 years
answered 1 year, 8 months ago
Member avatar
by
Howie
Savannah
0points
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answer 3
Do determine your eligibility for any DCU loans, please apply by calling us at 800/328-8797 option 3 or by clicking the Consumer and Visa link below the Get A Loan area on the left side of our home page, www.dcu.org .
State: Massachusetts
answered 1 year, 8 months ago
Member avatar
by
DCU Staff
Marlborough
0points
0out of 0found this answer helpful.
Question

I am a student, my credit is around 620 and I need a loan to pay a car, would I be qualified?

State: Massachusetts
Age: 25-34
DCU Member for: Haven't joined yet
asked 1 year, 8 months ago
Member avatar
by
mimise
WORCESTER
on Auto Loans
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3 answers
Answers
answer 1
You will probably get a loan at a higher rate , provided you have a co-signer.
State: Virginia
Age: 35-44
DCU Member for: 10 to 20 years
answered 1 year, 8 months ago
Member avatar
by
Matt
Burke
0points
0out of 0found this answer helpful.
answer 2
mimise -

I'd recommend first looking to build up your credit score a bit higher if you can. We'd want to get your score closer towards a 700 number.

Do you have any credit cards / loans? Perhaps a store credit card such as Target or the Gap?
State: Georgia
Age: 25-34
DCU Member for: 10 to 20 years
answered 1 year, 8 months ago
Member avatar
by
Howie
Savannah
0points
0out of 0found this answer helpful.
answer 3
An application is required to determine your eligibility for any DCU loan. Please apply by calling us at 800/328-8797 option 3 or from our home page by clicking the Consumer and Visa link below the Get A Loan area on the left.
State: Massachusetts
 
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answered 1 year, 8 months ago
Member avatar
by
DCU Staff
Marlborough
0points
0out of 0found this answer helpful.
Question

What documents are need when buying a car from Private Party

I am planning to buy a used car from a private party. What documents are need for the loan?
State: Georgia
Age: 35-44
DCU Member for: Less than 1 year
 
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asked 8 months ago
Member avatar
by
rmareed
Duluth
on Auto Loans
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3 answers
Answers
answer 1
Ur Driving License, Sale Agreement, Salary Slips and Utility Bills
State: Texas
Age: 25-34
DCU Member for: Less than 1 year
answered 7 months ago
Member avatar
by
Shashi
Plani
0points
0out of 0found this answer helpful.
answer 2
Upload a Salary statement, drivers license, Intent to Sell Form with seller and vehicle information and signed by both buyer and seller. And last copy of registration or title of vehicle intended for purchase.
State: Georgia
Age: 25-34
DCU Member for: 5 to 10 years
answered 7 months ago
Member avatar
by
Bgeorge
Atlanta
0points
0out of 0found this answer helpful.
answer 3
For a private party purchase, you would want to fill out the Intent to Sell form and provide us with a photocopy of either the seller's title or registration. The Intent to Sell form may be found from our Site Index within the Printable Applications and Forms link.
State: Massachusetts
answered 8 months ago
Member avatar
by
DCU Staff
Marlborough
+2points
2out of 2found this answer helpful.
Question

Apply for auto loan now or wait till membership arrives?

Just joined DCU checking and savings and want to apply for a new car loan. I have received my pin number and debit cards in the mail, but have not received my membership number and checking account info yet. Should I wait for that information before applying for the loan or apply now? How long does the loan process take? Thank you.
State: California
Age: 35-44
DCU Member for: Less than 1 year
asked 7 months ago
Member avatar
by
JWP
Fresno
on Auto Loans
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3 answers
Answers
answer 1
Yes, I did join and then decided to apply for the loan before receiving my membership and was approved and had walked out of the dealership with a new car a day before my membership number arrived in the mail. So far, this has been a great start to what looks like a long term relationship with DCU.
State: California
Age: 35-44
DCU Member for: Less than 1 year
answered 6 months ago
Member avatar
by
JWP
FRESNO
0points
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answer 2
We became members today and got an approved loan the same day. You should call or visit your local branch; i'm sure that they could get some information together for you to get the process started so you don't have to wait for it to arrive in the mail!
State: New Hampshire
answered 6 months ago
Member avatar
by
heather
hollis
0points
0out of 0found this answer helpful.
answer 3
You may apply for a DCU Auto loan at any time. There is no need to wait for your Membership information and PIN to arrive by mail. After applying, you should know within 1-2 business days if you are pre-approved and any documentation you will need to submit before the loan can be funded.
State: Massachusetts
 
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answered 7 months ago
Member avatar
by
DCU Staff
Marlborough
0points
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Question

Total Turnaround Time

I have been pre-approved for a car loan by DCU. I am not yet a member, so I have sent my filled up membership packet to dcu. Do I need to wait for 2-3 weeks for the membership to be active or can my membership number be pulled internally and my loan released?
State: Ohio
Age: 25-34
DCU Member for: Haven't joined yet
 
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asked 6 months ago
Member avatar
by
Abhra
Dublin
on Auto Loans
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3 answers
Answers
answer 1
Joining DCU is quick and easy. The time frame for a personal membership is dependent on how you correspond with DCU. The web site is quick and easy and if you have excess to a fax machine, it is much quicker than sending items through the mail. Once a member, you can call DCU and they will help you set up your cell phone to do banking "on the run." Enjoy!
State: Maine
Age: 55-65
DCU Member for: 5 to 10 years
answered 6 months ago
Member avatar
by
Jim
Eastport
0points
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answer 2
No. Just call the Loan department. If they had received your document they can finalize your loan over the phone.
State: Georgia
Age: 35-44
DCU Member for: Less than 1 year
answered 6 months ago
Member avatar
by
Arjun
Roswell
0points
0out of 0found this answer helpful.
answer 3
Once your Membership is opened, you may proceed with having your loan financed, even if this is before receiving your Membership Welcome Kit by postal mail.
State: Massachusetts
answered 6 months ago
Member avatar
by
DCU Staff
Marlborough
0points
0out of 0found this answer helpful.
Question

Any fees associated with an auto loan?

Are there any fees associated with an auto loan? (Service fees, paperwork fees, one time fees etc..) Anything that would alter the monthly payment amount that was given to me when I applied and was approved online for my loan?
State: Connecticut
Age: 25-34
DCU Member for: Less than 1 year
asked 4 months ago
Member avatar
by
Michael
Manchester
on Auto Loans
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3 answers
Answers
answer 1
no.
State: Massachusetts
Age: Over 65
DCU Member for: 1 to 4 years
answered 3 months, 4 weeks ago
Member avatar
by
William 11
Fitchburg
+1point
1out of 1found this answer helpful.
answer 2
No, there are no fees charged
State: New Jersey
Age: 35-44
DCU Member for: 10 to 20 years
answered 3 months, 4 weeks ago
Member avatar
by
vivpun
Freehold
+1point
1out of 1found this answer helpful.
answer 3
As long as your payments are made on time when due, your monthly payments take into consideration both your principal and interest payments over the term of your loan. Late fees are only assessed if your payments are made more than 15 days delinquent.
State: Massachusetts
answered 4 months ago
Member avatar
by
DCU Staff
Marlborough
+1point
1out of 1found this answer helpful.
Question

How old of a vehicle will DCU allow on a used auto loan?

State: Massachusetts
asked 3 years, 4 months ago
Member avatar
by
DCU Member
Marlborough
on Auto Loans
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Answers
answer 1
i think not older than 12 years , give them a call to be sure
State: Massachusetts
 
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answered 2 years, 9 months ago
Member avatar
by
powerfulaigle
worcester
+1point
1out of 1found this answer helpful.
answer 2
DCU offers auto loans on vehicles generally not more than 10 years old. We do offer antique auto loans, however an appraisal on the vehicle would need to be obtained by one of our licensed appraisers. Please note that DCU does not cover the cost of appraisals on antique vehicles. For more information on our auto loans, or to apply, please select here.
State: Massachusetts
answered 3 years, 4 months ago
Member avatar
by
DCU Staff
Marlborough
+2points
2out of 2found this answer helpful.
Question

How do I accept my auto loan pre-approval?

State: Massachusetts
asked 3 years, 4 months ago
Member avatar
by
DCU Member
Marlborough
on Auto Loans
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2 answers
Answers
answer 1
Preapproval I believe is a check they do by running your credit on how much you can borrow and what best rate you can get. This is mainly information to you to avoid anxiety or to avoid cheap tricks those dealerships trick us with their financing (making you purchase to your maximum limit, adds warranty plans etc.). Once you are pre-approved you can shop, bargain and decide on a car. After getting the buyers order from dealership fax that along with your recent paystub to DCU. Then call them up and provide more details towards getting and closing the loan. You will get a check in mail as fast as next business day (fees apply) take the check to dealership and drive your car out it’s as simple as that.
State: Georgia
Age: 25-34
DCU Member for: Less than 1 year
answered 3 years, 2 months ago
Member avatar
by
CMAT
cumming
+1point
1out of 1found this answer helpful.
answer 2
You can accept your auto loan pre-approval in two ways. Please be aware that not all members have pre-approvals at any given time.

1) Via PC Branch. When you log into your membership, you will see the pre-approval banner above your accounts. Click on that banner and follow the on-line prompts.

2) Contact our Information Center at 800.328.8797, option 3. Our loan team will be happy to walk you through the process.
State: Massachusetts
answered 3 years, 4 months ago
Member avatar
by
DCU Staff
Marlborough
+1point
1out of 1found this answer helpful.
Question

Does DCU offer auto loans on antique vehicles?

State: Massachusetts
asked 3 years, 4 months ago
Member avatar
by
DCU Member
Marlborough
on Auto Loans
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Answers
answer 1
I would say yes. Antique vehicles are sometimes in better condition than most 10 - 15 yr old cars on the road today. Antiques value usually stays around the same and some do go up in value. Very rare does one go down.
State: Massachusetts
Age: 45-54
answered 3 years, 2 months ago
Member avatar
by
bmjm100
Northborough
+1point
1out of 1found this answer helpful.
answer 2
Yes, we do offer antique auto loans at DCU. An appraisal on the vehicle would need to be obtained by one of our licensed appraisers to evaluate the eligible loan amount since the value on classic cars may vary significantly depending upon the condition. Please note that DCU does not cover the cost of appraisals on antique vehicles. For more information on our auto loans, or to apply, please contact us or select here.
State: Massachusetts
answered 3 years, 4 months ago
Member avatar
by
DCU Staff
Marlborough
+1point
1out of 1found this answer helpful.
Question

I have relationship checking and loyalty plus checking and best rate with high fico score will DCU give me a 5 year loan on a 2004 Car?

I seen a 2004 BMW really nice and rare package, these usually go for good money. Hold value. DCU now offers up to 12 years (car must be no older then 12 years at end of loan term) on a used vehicle. That would put the 2004 at a 48 month Loan but with my DCU loyalty and having all my loans through them since 2006 will they let me borrow up to 60 months on a 2004?
State: Massachusetts
Age: 35-44
DCU Member for: 5 to 10 years
asked 2 years, 8 months ago
Member avatar
by
DCUmember2006
Worcester
on Auto Loans
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Answers
answer 1
I purchased 2002 car n got refinance for cashout few months back...even though i applied only for 15 months loan, DCU was forcing me to go with 5 years loan to decrease the monthly payment.. so i dont think there wud b any issue..in fact i didnt pay it off yet n got approved for another loan for 2010 bmw 535i... i have very limited credit as well..good luck.
State: Texas
Age: 25-34
DCU Member for: Less than 1 year
answered 2 years, 2 months ago
Member avatar
by
sam
irving
0points
0out of 0found this answer helpful.
answer 2
Loan applications and collateral are reviewed on an individual basis. Please apply for the desired loan online, over the phone, or in person at your local Branch so we may further consider your request.
State: Massachusetts
answered 2 years, 8 months ago
Member avatar
by
DCU Staff
Marlborough
0points
0out of 0found this answer helpful.
Question

What is the mileage limit for a used private party purchase?

State: Arizona
Age: 18-24
DCU Member for: Haven't joined yet
asked 2 years, 7 months ago
Member avatar
by
Brad
Phx
on Auto Loans
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Answers
answer 1
I dont think there is any limit. Have a live chat with representative, they will answer this in seconds
State: Texas
Age: 25-34
DCU Member for: Less than 1 year
answered 2 years, 2 months ago
Member avatar
by
sam
irving
0points
0out of 0found this answer helpful.
answer 2
As long as the value is there, there is not necessarily any mileage restriction for used private party sales. If the vehicle has high mileage we may request you to obtain an appraisal.
State: Massachusetts
answered 2 years, 7 months ago
Member avatar
by
DCU Staff
Marlborough
+1point
1out of 1found this answer helpful.
Question

loans to fix a car

are their loans to fix a car
State: Massachusetts
DCU Member for: Haven't joined yet
asked 2 years, 6 months ago
Member avatar
by
Kid
Cohasset
on Auto Loans
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2 answers
Answers
answer 1
U can always go for personal loan
State: Texas
Age: 25-34
DCU Member for: Less than 1 year
answered 2 years, 2 months ago
Member avatar
by
sam
irving
0points
0out of 0found this answer helpful.
answer 2
There are several options available to assist you with obtaining funds for car repairs, such as, a DCU Visa, Personal Loan, or Vehicle refinance. You may easily apply online from our web site or by calling us.
State: Massachusetts
answered 2 years, 6 months ago
Member avatar
by
DCU Staff
Marlborough
0points
0out of 0found this answer helpful.
Question

answering questions

Why won't you answer specific questions about credit issues? If someone asks would you approve a transaction if they filed bankrupcy, that is a simple yes (or yes with conditions) or no. It is not "apply and we will tell you" Why apply? Why waste your time and my time? Also, when someone asks a specific question about credit score that is a yes or no as well. You will either do someone with a 580 or you won't. You will do someone with a 540; 620 or 700. You have a minimum score requirement. Just be up front.
State: Massachusetts
Age: 55-65
DCU Member for: Haven't joined yet
asked 2 years, 6 months ago
Member avatar
by
Soupman22
Methuen
on Auto Loans
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2 answers
Answers
answer 1
Hints the term they say SECOND CHANCE CAR LOANS... That they advertise... Im sure they can help you.. Your the one with the bad score... You will have no results or answers If you dont try....
State: New Hampshire
Age: 25-34
DCU Member for: 10 to 20 years
answered 2 years, 2 months ago
Member avatar
by
Worker Guy
Merrimack
+1point
1out of 1found this answer helpful.
answer 2
All applications are considered on an individual basis. Please give us a call if you have specific questions so we may put you in touch with the appropriate area to better answer the concerns you have prior to applying.
State: Massachusetts
answered 2 years, 6 months ago
Member avatar
by
DCU Staff
Marlborough
+1point
1out of 1found this answer helpful.
Question

I am selling a car by owner and the buyer wants to finance through DCU

I am selling a car by owner, the buyer wants to obtain a car loan through DCU. I feel uneasy to hand the car title in exchange for a check, even if the check is from a credit union as there are many fake checks out there. Can you suggest a reasonable way to proceed? Can we go to a branch where I could get cash or can you wire the funds into my account?
State: Illinois
Age: 45-54
DCU Member for: Haven't joined yet
asked 2 years, 3 months ago
Member avatar
by
alexk
chicago
on Auto Loans
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Answers
answer 1
As long as i know...small amounts can be directly deposited in members accounts or the loan check wud b on buyers name.. ask him to give u cash once he gets the check on his name.. i will still avoid such transactions, as they r. Paiful..
State: Texas
Age: 25-34
DCU Member for: Less than 1 year
answered 2 years, 2 months ago
Member avatar
by
sam
irving
0points
0out of 0found this answer helpful.
answer 2
A loan check must be issued for any member financing a vehicle loan through DCU as it is part of the paper trail. The loan checks DCU issues are bank checks for guaranteed funds. Please call us upon receipt of the check if you have concerns about it being legitimate so we may verify this for you. If you wish to cash the check in person at a DCU Branch, our locations are limited to Massachusetts and New Hampshire at this time. A $5 Non-Member Check Cashing fee will be assessed if you are not a current DCU member.
State: Massachusetts
answered 2 years, 3 months ago
Member avatar
by
DCU Staff
Marlborough
+1point
1out of 1found this answer helpful.
Question

We would like to refinance our automobile and get extra cash to help with moving expenses....can we do both together?

we have 32 payments left on the car out of 72. we bought it brand new. we need and extra $3500.00 for our moving expenses.
State: New Hampshire
Age: 45-54
DCU Member for: Haven't joined yet
asked 2 years, 2 months ago
Member avatar
by
Kibby
Atkinson
on Auto Loans
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Answers
answer 1
Yes this can be definitely done>
Thats what I did. I refinanced and got 3200 dollars in cash that I paid to my credit card.
State: New York
Age: 25-34
DCU Member for: 5 to 10 years
answered 1 year, 10 months ago
Member avatar
by
Parvathala
elmont
+1point
1out of 1found this answer helpful.
answer 2
Yes, when refinancing your Auto loan, if you have available equity, you may get cash back.
State: Massachusetts
 
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Second Chance Car Loans
4.9 out of 5(8)
 
 
 
 
 
answered 2 years, 2 months ago
Member avatar
by
DCU Staff
Marlborough
+1point
1out of 1found this answer helpful.
Question

Is there an option to make the auto loan payments online and to setup automatic payment from a bank account?

State: Pennsylvania
asked 2 years ago
Member avatar
by
Raghu
Pittsburgh
on Auto Loans
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Answers
answer 1
yes
State: Massachusetts
Age: Over 65
DCU Member for: Less than 1 year
answered 2 years ago
Member avatar
by
jrbens
Charlestown
+1point
1out of 1found this answer helpful.
answer 2
Yes, you may set up online payments through PC Branch or through automatic payments from another financial institution by completing the Pre-authorized Payments form: https://www.dcu.org/achform.pdf .
State: Massachusetts
answered 2 years ago
Member avatar
by
DCU Staff
Marlborough
+1point
1out of 1found this answer helpful.
Question

Is there any penalty for Pre-payment of Auto Loan?

We are planning to take an auto loan for 5 years? But we would like to reduce the term to 3 years and pay off some of the Principal amount after a year. Will there be any charges for this?
State: Georgia
Age: 25-34
DCU Member for: Less than 1 year
asked 2 years ago
Member avatar
by
mnrs31
Atlanta
on Auto Loans
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Answers
answer 1
There is no pre-penalty. I took a used car loan for 3 years and paid it off in 18 months. All the extra payments go towards principal payment.
State: Maryland
Age: 25-34
DCU Member for: 5 to 10 years
answered 2 years ago
Member avatar
by
IndianInUSA
Nottingham
+2points
2out of 2found this answer helpful.
answer 2
No prepayment penalties are assessed for paying off a DCU Auto loan early.
State: Massachusetts
answered 2 years ago
Member avatar
by
DCU Staff
Marlborough
+1point
1out of 1found this answer helpful.
Question

If I am selling my vehicle but I still owe money on my vehicle loan, what is the process I new to go through to get the title to the buyer and payoff?

I have a few months left on my vehicle loan I want to sell my vehicle I want to know what steps I need to take to do this.
State: Massachusetts
Age: 25-34
DCU Member for: 5 to 10 years
asked 1 year, 10 months ago
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by
Sierra
Nativk
on Auto Loans
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2 answers
Answers
answer 1
is this to a dealership or to an individual?

Its easy with a dealership.

With an individual:
- call and inform DCU you want to close. They will give you the "10 days" valid amount you owe
- Make the check from the buyer payable to your car loan account
- make a personal check for the remaining amount you owe.
- deposit both to your car loan account
- DCU will mail the title to you

This is my personal opinion from personal experience
State: Virginia
Age: 35-44
DCU Member for: 10 to 20 years
answered 1 year, 8 months ago
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by
matt
burke
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answer 2
Your DCU Auto loan must be satisfied in full before the title will be released.
State: Massachusetts
answered 1 year, 10 months ago
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by
DCU Staff
Marlborough
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