New Auto Loans
New vehicles are vehicles of the current or previous model year or newer with less than 5,000 miles No down payment on new auto loans!
Terms ranging from 2 – 6 years.
Used Auto Loans
No down payment on used auto loans model years 2012 and newer. Models older than 2012 require 20% down.
Terms ranging from 2 – 6 years; dependent on the model year
New & Used Motorcycle Loans
CNEFCU requires 10% down payment on new and used motorcycles model years 2020 – 2010.
Terms ranging from 2 – 5 years
New & Used Recreational Loans
CNEFCU requires 10% down payment on new and used recreational vehicles model years 2020 – 2010.
Terms ranging from 2 – 6 years
Vehicle Loan Requirements:
- Main Share Account with $25.00 minimum balance;
- Proof of Income (copy of two recent pay stub);
- Insurance Binder;
- Copy of Purchase Contract;
- Copy of Signed RMV-1 Form;
- GAP Insurance is available at a cost of $350.00;
- $45.00 fee for Vendor’s Single Interest Insurance will be added to the loan amount
- Odometer statement
Refinancing Requirements:
We will need a copy of valid registration, a copy of the original financial note in place of these forms, and a valid 10-day payoff quote. We will also need $25.00 for the MADOT (Mass Department of Transportation) to switch the Lienholder to Coastal New England FCU.
Private Sale Requirements:
We will need a copy of the front and back of the title, a bill of sale in place of these forms, a copy of the current owners registration, an odometer statement signed by the seller and the purchaser, and an RMV-1 form stamped by the insurance company listing Coastal New England FCU as lienholder.
Lease Buy-out Requirements:
We will need a copy of the current registration, original financial contracts, RMV-1 form stamped and signed by the insurance company listing Coastal New England FCU as the lienholder, copy of Buyout Documents from the Lease Company,
Notice:
Terms and conditions are subject to change without notice. Please contact the credit union for current requirements.
Application Note:
We must be listed as:
Coastal New England Federal Credit Union
93 Union Street
New Bedford, MA. 02740-6361
Lienholder Code: #1894