Auto, Boat, Commercial Vehicle Loans
- Loans available for new and pre-owned vehicles 2013 and newer. Older models may be considered.
- Loans for boats - minimum finance amount is $5,000
- Loans for commercial vehicles.
- Prequalify your loan with us.
- Convenient, automatic payments from your checking account
APPLYING FOR A CAR OR BOAT LOAN
What you will need:
- Two recent paystubs and last year's W-2 Form, or two years tax returns if self employed
- List of credit accounts, monthly debts and employment history included in a completed application
- Copy of the bill of sale
- Must be titled in the State of Maryland
- Down payment required on: New Auto Loans: 10%
- Down payment required on used autos only through a dealer: 20%
- Down payment required on new boat loans: 20%
- Maximum monthly debt to income ratio: 43%. Divide your monthly debts (mortgage or rent payment, monthly installments & credit card payments) by your gross monthly income.
- Use your savings as collateral for a loan.
- Borrow a maximum of 90% of your available savings balance
- Rates and terms based on collateral pledged depending on whether it's a statement savings or a certificate of deposit (CD).