Loans
Low cost loans are one of the great benefits of credit union membership. Whether you are financing a car, need moving expenses, paying for a college education or simply need a vacation, you will find low rates, affordable payments and personal service at Genuine Parts Credit Union. For your convenience all loan payments are payroll deducted.
The Signature Loan provides a special benefit to some of our members. This loan was created with two specific purposes in mind. First, it is a quick and easy source of funds for emergencies. Second, it can help members to either establish or reestablish their credit score. This loan offers easy qualifying with low payments. Contact the credit union for additional information to see if this loan can benefit you.
- Unsecured Personal Loans – We offer personal loans in amounts up to the creditworthiness (credit score and debt-to-earnings ratio) of the member. The loan payments are payroll deducted. Repayment terms vary based on the type of loan – Signature, Vacation or Afford Life loan.
- New & Previously Owned Vehicle Loans – Enjoy the convenience of payroll deduction on your next loan. Vehicle loans are available for the purchase of a new or used vehicle in the members state of residence. Refinancing loans are not available.
- Share (Savings) Secured Loans – Share Secured Loans are available at very low rates. Contact the credit union for details.
Loans, rates and other services as above.
New York state residents are not eligible for loans from Genuine Parts Credit Union.
| *Unsecured Personal Loans (Signature, Vacation, Afford Life and Light Up Your Life) | |
|---|---|
| Signature Loan ($250 to $500) The maximum repayment term is 12 months. | 18.00% APR* |
| Vacation Loan ($501 to $3,000) The maximum repayment term is 12 months. | Base Rate 9.90% APR* |
| Afford Life Loan ($501 to $10,000) Afford Life Loan repayment term is up to 12 months for every $1,000 not to exceed 60 months. |
Base Rate 9.90% APR* |
| Light Up Your Life Loan / Holiday Loan ($501 to $1,000) Light Up Your Life Loan is available from October 1 through mid-December. Light Up Your Life Loan repayment begins with the first paycheck in April and ends in September. |
Base Rate 9.90% APR* |
Members can have only one Signature loan every 180 days (6 months) and can have only one Vacation Loan and one Light Up Your Life (Holiday loan) at a time. Members can have as many Afford Life Loans that they qualify for. Each member must not exceed a total of $10,000 in Unsecured Loans*. All loans are non-renewable.
THE MAXIMUM INTEREST RATE FOR ANY GENUINE PARTS CREDIT UNION LOAN IS 18.00%.
| Vehicle Loans must be from a dealership in the member’s state of residence and registered in the member’s name only. (Certain exceptions can be made to state residency restrictions – contact the credit union. Refinance Loans are not currently Available.) GPCU cannot finance vehicles purchased from a leasing or a rental car company since they do not provide the same services as traditional dealerships. | |
|---|---|
| To calculate your auto loan Click CLICK HERE | |
| New Vehicles 2024-2025 never titled up 60 months | Base Rate 5.49% – 5.99% APR* |
| Used Vehicles 2023-2024 only up to 60 months | Base Rate 5.99% APR* |
| Used Vehicles 2023-2024 only at 72 months | Base Rate 6.49% APR* |
| Used Vehicles 2021 – 2022 (48 months – 60 months) | Base Rate 6.75% APR* |
| Used Vehicles 2019-2020 (36 months-48 months) | Base Rate 8.50% APR* |
*APR = Annual Percentage Rate
**The maximum term for 2014 – 2018 used vehicles is up to 36 months at Base Rate 9.49% APR*
*Credit Scores are used to determine loan interest rates and loan eligibility along with other factors including debt-to-earnings ratio.
We obtain credit reports for our applicants from Equifax for all loans including the Signature Loan.
All loans except the Signature Loan are subject to credit approval. Some restrictions may apply.