Verve Credit Union

Verve is a credit union that serves members in a number of counties across Wisconsin and Minnesota. Auto loans are available for any member of the union.

Verve Credit Union
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    How do Verve Credit Union auto loans work?

    Auto loan rates start from a low 2.99% on cars and 3.99% on recreational vehicles.

    Your interest rates will go up a little depending on how long you take out the loan.

    The maximum repayment term is 84 months.

    Credit score

    Verve requires its members to be in good standing with the union and have a good credit history to apply for an auto loan.

    However, the minimum requirements aren’t stated.

    How Much Can You Borrow?

    Maximum and minimum loan values aren’t disclosed by Verve. You’ll only find out how much you can borrow on application.

    What types of vehicles are eligible for financing?

    You may purchase cars, trucks, or recreational vehicles with your loan.

    How do I qualify?

    You’ll need to be a resident of any of a number of counties across Wisconsin and Minnesota. Wisconsin is well covered, with those living in 23 counties able to apply. However, only residents of Winona and Houston counties in Minnesota are eligible.

    What documents do I need?

    You’ll need a valid form of photo ID, usually a driver’s license.

    What are the fees?

    While auto loan fees aren’t stated by Verve, you’ll generally find credit unions rarely charge fees to members.

    However, make sure this is the case before you sign on to a loan.

    How long does the loan process take?

    A short application form can be completed in just a few minutes via the website.

    Verve doesn’t say how long the approval process is or when you can expect the money in your account, though.

    How to apply for an auto loan?

    Only options for online application appear to be available.

    If you’d prefer to apply in-branch you should contact Verve to confirm this is an option.

    What payment methods are supported?

    You can have payments deducted directly from your paycheck or sign up for a monthly auto-pay option.

    Pros and Cons


    • You don’t need to make your first payment until 90 days after you take out the loan
    • Overpayments can be made at any time to your loan to pay it off faster


    • Only available to members of the union in a limited geographic area
    • You need a good credit rating to be accepted

    Is Verve Credit Union right for you?

    As Verve largely serves the residents of Wisconsin, it could be a good option to go to as some low auto loan interest rates are on offer.

    However, for anyone outside of the state, or those with poor credit, it won’t be the best place to start.

    Carvana is a national auto loan provider that accepts those with poor credit and has a wide range of loan options to choose from.

    Capital One also has some easy-to-use online calculators that will give you a good idea of what you might be paying before you apply.