You can apply for Business Vehicle Financing for a business vehicle that will be insured, titled, and registered in your business name. Loan terms can be up to seven years for all vehicle loans based on credit approval.
- Business vehicle loan amounts from $5,000 - $250,000
- Interest rate is prime rate (fixed) for new vehicles with a loan term of 1-5 years
- Interest rate is prime rate (fixed) + .25% for new vehicles with a loan term of 6-7 years
- Interest rate is prime rate (fixed) + .25% for used vehicles with a loan term of 1-5 years
- Interest rate is prime rate (fixed) + .50% for used vehicles with a loan term of 6-7 years
- New and used business vehicles are eligible
- Maximum loan to value for all vehicles is 80%
- Used vehicles will be limited to a maximum age of 5 years including the current model year
- Minimum of one year business longevity required
Discover how a Teachers Credit Union Business Vehicle Loan can help.
To apply, print out the following forms and drop off at your nearest Teachers branch or mail to: Business Lending Department, Teachers, PO Box 9005, Smithtown, NY 11787-9005.
- Teachers Business Loan & Line of Credit Application
- Personal Financial Statement (For loans higher then $50,000)
For any help in completing this application, please call a Teachers Business Development Officer at 631-698-7000 x 1687 or at firstname.lastname@example.org.
Loans are subject to credit approval.
Business owners must be members or eligible for membership at Teachers and must provide personal guarantees for loan request.
Rates subject to change.
Only businesses registered in NY are eligible.