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.
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.
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.
Maximum and minimum loan values aren’t disclosed by Verve. You’ll only find out how much you can borrow on application.
You may purchase cars, trucks, or recreational vehicles with your loan.
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.
You’ll need a valid form of photo ID, usually a driver’s license.
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.
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.
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.
You can have payments deducted directly from your paycheck or sign up for a monthly auto-pay option.
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.
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