Buying or refinancing your car has never been easier. With flexible terms and 125%* financing we make it simple to make your best deal and save money with some of the very best rates around.
Call us at 401/463-3010
|Term||Mthly Payment Per $1,000||APR*|
|New & Used Vehicles|
|Up to 48 months||$23.15||5.49%|
|Up to 60 months||$19.23||5.99%|
|Up to 72 months||$16.60||6.24%|
|New Vehicles Only|
|Up to 84 months||$14.88||6.74%|
*APR = Annual Percentage Rate. Rates are determined by your personal credit history, loan term, and payment method. Rate includes a 0.50% discount given for an automatic payment from a CME Credit Union Account. Rates are subject to change at any time.
**New auto loans are for 2023 and 2022 model years with less than 8,000 miles. Used auto are for 2022 and older model years.
***All Vehicle and Recreational Vehicle Loans require Vendor Single Insurance (VSI) for a fee of $21.
No. You do not have to be a CME CU member to apply for a loan. Once your loan is approved, you will need to join the credit union before we can disperse the funds for your loan.
The most common way to apply for a CME CU Car Loan is through our online application or at our branch. You can also call us at 401/463-3010 and speak to a team member to apply over the phone.
To apply for an auto loan, you will need the following information:
Once approve, to finalize your auto loan, you will need to do the following:
The application process takes just a few minutes and depending on how quickly the required documentation is provided we can fund your loan in just a few days. We will call or send a secured email if additional information or further review is needed on your application.
Once all documentation is provide to finalize your loan, you can visit our branch to receive your check OR we can send it by FedEx to your home of record.
Your monthly payment is determined by a number of factors that make up your purchase or refinance loan. These include manufacturer's rebate, the trade-in value of your old vehicle less any balance owed and yourt down payment, just to list a few.
Once the amount of your loan is determined the interest rate and the term of the loan will be used to estimate your monthly payment. To estimate your monthly payment, try our Monthly Payment Calculator.
Loan to value is the ratio that compares the amount of a loan against the value of the vehicle. Typically, lenders have a “maximum LTV” threshold in place which determines how much of a loan they are willing to finance for a vehicle based on its value.
The LTV threshold is based on a number of factors, including creditworthiness, vehicle age, mileage and term of the loan. Qualified CME CU borrowers could finance up to 125% of the purchase price or book value, whichever is lower.
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