Auto Loans
At Eastern, we know a vehicle is one of the biggest purchases you make. It's important to get not only the car, boat, truck or motorcycle right, but to get the financing right, too. Get the right vehicle and the right loan, life is good. Get the wrong vehicle or the wrong loan, and it can cost you for years and years.
No discussion of auto loans at Eastern would be complete without talking about our rates. We work hard to keep our rates as low as possible, so as to make your car or truck as affordable as possible. We offer terms up to 84 months and even offer 100% financing on your new or used vehicle. But great rates are just the beginning.
Flexible terms, 100% financing
At Eastern, we make work to help you get the car you need at the payments you can afford. We have terms up to 84 months and the ability to finance up to 100% of the purchase price of your car.
Auto-Rate: higher down, lower rate
While we offer 100% financing, at Eastern, we go further to save you money over the long term. With our Auto-Rate program, the higher a down payment you pay on your car, the lower your loan rate. And with our Auto-Save program, we'll even help you put away money for your next down payment. Click here for more on Auto-Save.
Review
whether you can make a higher down payment toREDUCE
the amount of interest you’ll pay andREINVEST
the difference into your savings, money market or certificate account.Why? It’s better for you all around!
By borrowing less you’ll pay interest on a smaller principal, which means less interest paid overall. For example, on a $20,000 car financed at 100%, you’d pay more than $2,300 in interest over 4 years. But by paying 20% down, you’d receive a 0.5% Auto-Rate reduction. You’d pay interest on only $16,000 and Auto-Rate would save you $639 over the life of the loan.*
Plus, with higher equity in the car thanks to the higher down payment you’ll be less likely to owe more than the car is worth if you sell or trade-in the car, or in the unfortunate instance of it being totaled due to accident or theft.
Vehicle loans at Eastern**
- New autos, trucks or motorcycles up to 84 months and 100% of purchase price
- Used autos, trucks and motorcycles up to 84 months and 100% of NADA value
- RVs up to 60 months and 100% of book value
- Motor Homes up to 20 years and 100% of book value
- Boats up to 20 years and 1100% of book value
APR=Annual Percentage Rate.
A*Example based on 48-month ENY FCU auto loan at 5.50% APR, with a 0.5% rate reduction for 20% down payment. Your rate may vary.
**Some restrictions apply
