Your Nearby Credit Union Offers Reasonable New & Used Automobile Loans
Lanco Federal Credit Union is your local source for affordable car loans in the Lancaster, PA area! We have new and used automobile loans available, so no matter what vehicle you found at the car dealership, we may be able to help you get in that shiny new car quickly!
Whether you’re a first-time car-buyer, upgrading your existing vehicle, or interested in refinancing your current loan, Lanco FCU can help! With various programs available, we’re happy to help you apply for a vehicle loan that can result in significant cost savings compared with other lenders.
Excellent Rates & Affordable Monthly Payments
Just as you look for a deal when shopping for a vehicle, it’s also essential that you get a good deal on your auto financing. Lanco FCU offers affordable financing for new or used cars, trucks, SUVs, and motorcycles. With our competitive interest rates and terms of up to 7 years, you’ll get a low monthly payment that works for your budget. Learn more about how to finance a car.
Buying New or Used Vehicles
Lanco FCU offers new and used automobile loans for vehicles model years 1999 and newer. Approvals are typically made within 2 business days and are valid for 60 days. Whether you have a vehicle in mind or not, knowing your budget and how much you can finance can help you before you even talk to a car dealer.
Applying online for an auto loan is quick and easy! We also accept in-person loan applications at any Lanco FCU branch. Call (717) 569-7180 to schedule an appointment.
Current Auto Loan Rates Apply for a Loan Online
Refinancing Your Car Loan
Do you have a current vehicle loan and aren’t happy with your current loan terms? It may be time to consider refinancing to a more affordable car loan! In Lancaster, PA, we help current vehicle owners like you get to your financial goals faster. When you refinance your loan with Lanco FCU, we may be able to help you:
- Lower Your Interest Rate
- Lower Your Monthly Payment
- Simplify Your Finances
Best of all, there’s no refinance fee when you bring your auto loans to us from another bank or credit union. And, even if your current rate is lower than our advertised rates, we may be able to match your rate. Simply contact us today for more information!
Answers to Your FAQs About New and Used Automobile Loans
We understand that purchasing and financing a vehicle can sometimes be a confusing process. Between worrying about your credit score, loan amounts, annual percentage rates (APR), and the terms and conditions of your loan, it’s enough to make most people anxious. Luckily, Lanco FCU has the answers to ease your concerns!
How Much Can I Borrow?
The answer to this question may be one of the most important to know before you head to the dealership lot. Knowing exactly how much you can finance can help you in your vehicle decision. The maximum amount you can borrow to finance a vehicle depends on the model year, vehicle value, and borrower qualifications.
Generally, the loan maximums are:
| Model Year | Auto Loan Maximum |
|---|---|
| 2017–2023 | Up to 110% NADA Retail Value or MSRP |
| 2011–2016 | Up to 100% NADA Retail Value |
| 1999–2010 | Up to 90% NADA Retail Value |
J.D. Power acquired the National Automobile Dealers Association’s Used Car Guide division to provide accurate valuations of vehicles. Visit the NADA Guides website to look up vehicle values.
What If I Have Limited or No Credit History?
When you don’t have enough credit history to get approved for a traditional loan, Lanco FCU’s First-Time Auto Buyer Loan can help you get the financing you need to purchase a vehicle. This loan offers fair rates and terms and is a great way to start establishing a credit history. Call (717) 569-7180 for more information.
What If I Want to Finance Another Type of Vehicle?
We get that not all buyers need a new or used primary vehicle. Sometimes, you want to purchase something that brings a little more enjoyment to your life. If you are interested in financing the purchase of a recreational vehicle or classic car, please call us for information: (717) 569-7180 or (888) 318-4222. We’ll be happy to assist you with the right products and services for you!
Add Optional Protection for You and Your Vehicle
Financing a vehicle comes with a lot of responsibility. Between monthly car loan payments, auto insurance premiums, and maintenance, having the proper financial protection on your car is essential. That’s why Lanco FCU is proud to offer you optional protections when you finance with us.
Guaranteed Asset Protection Plus (GAP Plus)
If your car is stolen or totaled, GAP Plus covers the difference between your primary insurance settlement amount and the amount you owe on your loan. This coverage is highly suggested for borrowers financing more than 80 percent of the vehicle’s value. Learn more about GAP Plus.
Lanco FCU Debt Protection
Lanco Debt Protection is a voluntary loan-payment protection product that could help you get relief from loan payments if a protected life event unexpectedly happens to you. Protected events include loss of life, disability, and involuntary unemployment. Simple eligibility requirements help ease the enrollment process. Learn more about Lanco FCU Debt Protection.
Insurance Built for Credit Union Members Like You
Receive discounted auto insurance through Lanco FCU’s partnership with TruStage. The TruStage Auto & Home Program works with top insurance companies to make auto and home insurance available with a potential discount to credit union members. Learn more and get a quote.
Ready to Get a New or Used Automobile Loan? Apply Online Today!
Lanco FCU is ready to help you inhale that new car smell! Our credit union is proud to help our neighbors in Lancaster, PA, achieve their life goals through affordable vehicle loans. When you want to purchase a new or used car, truck, SUV, motorcycle, RV, or classic car, contact Lanco FCU first for personalized and friendly service.
Whether you’re purchasing new, used, or refinancing an existing auto loan, we’re here to help you drive away happy. To see if you’re qualified and learn more about our vehicle loan programs, apply online today!