The Credit Union offers a Green vehicle loan on new Hybrid and Alternative Fuel
vehicles. Hybrid vehicles use a combination of petroleum and electric based power
systems, reducing the amount of petroleum fuel needed to power the vehicle, while
also increasing its
fuel efficiency.
Alternative Fuel vehicles run on fuels that are non-petroleum based, or use a mix.
These vehicles are fueled by biodiesel, electricity, E85, ethanol, hydrogen, methanol,
propane and natural gas.
Hybrid and Alternative Fuel vehicles are more expensive than normal vehicles. To
lower the overall cost of purchasing these types of vehicles, the Green Vehicle
loan has interest rates that are 1% lower than current new vehicle loan rates.
Green Vehicle Loan Specifications
Available on new Hybrid and Alternative Fuel vehicles
Must be previous, current or upcoming model year
Must have 10,000 or less miles
Financing for up to 110% of the purchase price, MSRP or NADA value
%
APR1 for terms of 61-72 months using Payroll Deduction/Funds
Transfer repayment
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(%
for Direct Pay)
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May be repaid at any time without penalty
The Federal Government offers a tax credit for individuals who purchase certain green/clean
fuel vehicles. To determine if a specific vehicle is available for the tax credit, please see the
IRS website.
As with any tax credit, consult a tax advisor to determine if this benefit
may apply to you.
