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State Employees' Credit Union Auto Loan Calculator, Interest Rates & Overview

Carla Soto
Carla Soto
Updated 08 November 2023
Fact checked

State Employees’ Credit Union auto loans overview

State Employees' Credit Union logo

State Employees’ Credit Union (SECU) was founded in 1937. Since then, SECU has been providing financial services to residents of North Carolina, South Carolina, Georgia, Tennessee, and Virginia. Members can secure low-rate auto loans with flexible terms and finance pre-owned and new cars, light trucks, vans, and SUVs.

Want to see what an SECU auto loan will cost? Try the State Employees’ Credit Union auto loan calculator below! All you have to do is enter your desired loan amount and term to see an estimate. You can use the calculator to adjust your loan amount and term to see how it might affect your monthly repayments.

Key State Employees’ Credit Union auto loan features

  • Minimum loan amount: Undisclosed.
  • Maximum loan amount: Up to 120% financing.
  • Interest rates: From 5.50% APR.
  • Loan terms: Up to 96 months.
  • Loan fees: Undisclosed.
  • Discounts: Undisclosed.

STATE EMPLOYEES’ CREDIT UNION AUTO LOAN OPTIONS

New and used auto loans

State Employees’ Credit Union provides auto loans with low rates and extended repayment periods. You can secure new cars, light trucks, vans, and SUVs for as low as 5.50% APR and make payments for up to 96 months. But if you’re looking for used models, rates can be from 6% APR, and terms are up to 72 months.

State Employees' Credit Union auto loan calculator

Provider
Product Information
EST Monthly
Repayment
Interest
Rate
Repayment
Period
Loan
Amounts
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Loan Amount

$25,000

Term

60 months

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State Employees Credit Union of North Carolina

State Employees Credit Union of North Carolina auto loan

State Employees Credit Union of North Carolina auto loan
Estimated Month Repayments
$595 Inclusive of fees
Interest Rate
15.00%
APR
Repayment Period
12 months
to 72 months
Loan Amounts
$5,000
to $100,000
GO TO SITE
Get a low interest rate State Employees Credit Union of North Carolina auto loan
Featured
Achieva Credit Union

Achieva - New Auto Loan

Estimated Month Repayments
$437 Inclusive of fees
Interest Rate
1.89%
APR
Repayment Period
12 months
to 84 months
Loan Amounts
$5,000
to $100,000
GO TO SITE
Low fixed interest rates. Flexible terms. Same-day approvals. No hidden fees.
Featured
Bank of America

Bank of America auto loan

Estimated Month Repayments
$595 Inclusive of fees
Interest Rate
15.00%
APR
Repayment Period
12 months
to 72 months
Loan Amounts
$5,000
to $100,000
GO TO SITE
Get a low interest rate Bank of America auto loan

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Minimum and maximum loan periods vary between 1 month and 10 years. Annual Percent Rates (APR) vary between 4.99% and 35.99% p.a. Total interest repayments vary between $592 and $916 over the life of the loan. *APR is based on an unsecured loan of $20,000 over a term of 3 years. WARNING: This APR is true only for the examples and may not include all charges. Different terms, fees or loan amounts might result in a different APR. These rates can change without further notice.

How to apply for a State Employees’ Credit Union auto loan

Eligibility criteria

  • At least 18 years old or eligible for lending
  • A resident of North Carolina, South Carolina, Georgia, Tennessee, or Virginia
  • An SECU member

Other than the above, SECU will also assess your ability to repay, credit report, and collateral. That said, consider increasing your credit score and lowering your debt-to-income ratio (DTI). Doing so can increase your chances of securing credit to finance your auto.

How to join State Employees’ Credit Union

SECU membership is open to:

  • Employees of North Carolina and North Carolina public boards of education
  • Federal employees assigned to North Carolina state agencies
  • Employees of social services, health, mental health, and civil defense of North Carolina counties
  • Employees of associations formed for North Carolina employees’ benefit
  • Employees of agencies or departments whose employees are subject to the North Carolina State Personnel Act
  • Employees of Manpower Group who work at BCBSNC
  • Members of the North Carolina National Guard
  • Individuals retired from the above employment or service as pensioners and/or annuitants from the above employment or service
  • Un-remarried spouses of persons who died while in the field of membership
  • Immediate family and household members of a current member
  • Active and former employees of select companies and organizations

What you’ll need to have ready

Personal details

When you apply for auto financing with State Employees’ Credit Union, you’ll be asked to provide personal information such as:

  • An email address
  • Your full name
  • Address
  • Social Security number
  • Employment information
  • Income details
  • U.S. citizenship status
  • A list of monthly expenses

Documents

You may need to provide SECU with additional documents to complete your loan request. These documents may include a purchase agreement or bill of sale, car registration and title, instructions for buying out a lease, proof of income (such as federal tax returns and W-2s), and financial statements.

Try to explore the loan application process before applying, too. Insight into the steps can help you better prepare for the process and give you the confidence to secure credit.

Ways to apply for a State Employees’ Credit Union auto loan

  • Apply online by clicking the GO TO SITE link in the table below
  • Visit a branch
  • Call (888) 732-8562

Additional State Employees’ Credit Union auto loan details

  • Automatic payment: Available.
  • Loan approval times: Usually, SECU can approve lending applications on the same business day.
  • Rate discounts: Potential lower APRs for members in good credit standing.
  • Repayment frequency: Monthly.
  • Late payment fees: Undisclosed.
  • Prepayment penalty: Undisclosed.
  • Co-borrowers allowed: Undisclosed.
  • Co-signers: Undisclosed.
  • Hardship program: Undisclosed.
  • Ways to repay: Recurring payments, online banking, and mobile banking.

Vehicle restrictions and limitations

  • Maximum vehicle age: 10 years.
  • Maximum vehicle mileage: 150,000 miles.
  • Other vehicle restrictions: Commercial vehicles, vehicles with branded titles (flooded, salvaged, or reconstructed), motorcycles, boats, and RVs are ineligible.

PROS AND CONS

Pros

  • Low interest rates.
  • Flexible loan terms.
  • Borrow up to 120%.
  • Quick loan decisions.
  • Fixed interest rates for easier budgeting.
  • Pre-approved checks offered through the Auto Power Program.
  • Multiple ways to apply – online, over the phone, and in a branch.
  • Possible lower rates for borrowers with excellent credit scores.
  • Autopay available.
  • Optional auto insurance and GAP coverage offered.

Cons

  • Membership required.
  • Limited to North Carolina, South Carolina, Georgia, Tennessee, and Virginia residents.
  • Commercial and branded-title vehicles, motorcycles, boats, and RVs are ineligible.
  • Undisclosed loan fees.

FREQUENTLY ASKED QUESTIONS

How much interest does SECU charge on vehicle loans?

New auto loans at SECU start at 5.50% APR, and used auto loans begin at 6% APR.

Are State Employees’ Credit Union auto loan interest rates fixed or variable?

SECU’s car loans have fixed interest rates, so this can help you better plan your budget.

What is the maximum length of an SECU auto loan?

You can choose repayment terms of up to 96 months for new vehicle loans and up to 72 months for used vehicle loans.

How do I qualify for an auto loan at State Employees’ Credit Union?

You need to be at least 18 years old or eligible for credit. Moreover, you need to be a resident of North Carolina, South Carolina, Georgia, Tennessee, or Virginia.

How long does SECU take to approve vehicle finance?

SECU usually gives a response on the same business day.

Where can I apply for a State Employees’ Credit Union auto loan?

You can apply for auto financing online, over the phone, and in a local branch.

How many pay slips does SECU require during my auto loan application?

SECU doesn’t specify the documents needed for a car loan, but you typically need your 2 most recent pay stubs.

Video: We are SECU

Carla Soto
Carla Soto

Carla is a skilled copywriter at BestFind with a background in marketing and communications. She specializes in reviewing personal loan and finance products to help readers navigate the complex world of personal finance.

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