The Credit Union offers a Green Vehicle loan for new and used vehicles that have a
combined “miles per gallon” rating of 28 mpg as determined by the U.S. Department of
Energy and published at
www.fueleconomy.gov. In order for a vehicle to qualify, the
mpg rating must be based on 2008 standards, which were adjusted to better reflect the
driving habits of consumers. For used vehicles, the U.S. Department of Energy has modified
the mpg rating for all prior model years to the new 2008 standard. Vehicles that qualify as
“green,” will receive a 1% lower interest rate than current new or used vehicle loan rates.
Specifications
Available on new or used vehicles with a combined 28 mpg rating
New vehicles must be prior, current or upcoming model year
New vehicles must have 10,000 or less miles
Used vehicles must be current or prior two model years
Financing up to 110% of the purchase price, MSRP or NADA Value
%
APR1 for up to 60-month terms (new or used) using Payroll Deduction/Funds
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%
APR1 for up to 61-72 months (new vehicles only) using Payroll Deduction/Funds
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The Federal Government offers a tax credit for individuals who purchase certain green/clean
fuel vehicles. To determine if a specific vehicle is available for the tax credit, please see the
IRS website.
As with any tax credit, consult a tax advisor to determine if this benefit
may apply to you.
