- Minimum secured new auto loan principal is $100

 

- There is NO maximum principal for a secured new auto loan

 

- A minimum of 10% of the purchase price of the new auto must be made as a down payment by the maker

 

- Maximum secured new auto loan duration is 72 months (6 years)

 

- Secured new auto loan with a principal of $500 or less can have a duration no longer than 12 months (1 year)

 

- Secured new auto loan with a principal of $1000 or less can have a duration no longer than 24 months (2 years)

 

- The GUASFCU must be listed as a lien holder on the title to the auto for the duration of the loan

 

- The borrower must provide the GUASFCU with the title to the new auto within 60 days of the dispersal of the loan

 

- The borrower must provide the GUASFCU with proof of sufficient insurance on the new auto within 60 days of the dispersal of the new auto loan.

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