Most people enjoy the research involved in finding their perfect vehicle – building cars online, taking test drives, and reading consumer reviews. It’s the purchasing process they find intimidating.
We recommend starting with a quick and easy preapproval from Salal so you’ll know the purchase price you’re qualified to buy. This will help you shop confidently at the dealership and give you more bargaining power so you can focus on getting the best price on your vehicle.
Benefits of using Salal for your next auto loan:
- Competitive rates, flexible terms
- Boat, motorcycle and RV loans available
- Fast preapproval
- Refinancing available
- Convenient payment options
- Hybrid and electric vehicle (auto, truck, and SUV only) loans automatically receive a 0.25% rate discount.
Already have a car loan? We refinance. Call 800.562.5515 or visit your nearest branch to find out if you could save money by refinancing your current auto loan with Salal.
You can apply for an Auto Loan and Recreational Loan using our secure online application portal.
APPLY FOR AN AUTO LOAN NOW
APR = Annual Percentage Rate. Rates are current as of March 29th, 2023, and are subject to change at any time.
Auto Loans
| Product | APR¹ | Comments | Terms⁵ |
|---|---|---|---|
| New vehicles have never been titled or licensed and used vehicles up to 1 year old. | 7.49% - 13.49%² | Rates increase without automatic payment³; Rates decrease for hybrid and EV loans⁴. | Up to 84 months |
| Used vehicles that have been titled or licensed and are 2 years old and older. | 7.74% - 13.74%² | Rates increase without automatic payment³; Rates decrease for hybrid and EV loans⁴. | Up to 84 months |
| All loans subject to credit approval. ¹APR = Annual Percentage Rate ²Actual APR will be based on creditworthiness, age of vehicle, and the term of the loan. For used autos, trucks, and SUVs, add 0.50% to the APR if over 100,000 miles, and add 0.50% to the APR if over 10 years old. ³Rates for loans without automatic payment will increase by 0.25%. For example, an APR of 9.99% increases by 0.25% to 10.24%. Refer to the Credit & Security agreement for specific disclosures. ⁴Hybrid and electric vehicle (auto, truck, and SUV only) loans automatically receive a 0.25% rate discount. ⁵Terms up to 84 months are available based on the age of the vehicle and the dollar amount of the loan. See Credit Union for details. Maximum term and loan-to-value based on approved credit. New vehicle value based on Manufacturer's Suggested Retail Price. Used vehicle value based on NADA retail. Collision and comprehensive insurance required. EXAMPLE PAYMENTS: New Auto: $405.60 a month based on a 60-month, $20,000 loan at 7.99% APR; Used Auto: $326.40 a month based on a 60-month, $16,000 loan at 8.24% APR. | |||
Boat, RV & Motorcycle Loans
| Product | Year | APR | Comments* | Terms** |
|---|---|---|---|---|
| BOATS & RVs | New units that have never been titled or licensed | 8.74% - 13.74% | Rates adjust without automatic payment | Up to 72 months |
| Used units that have been titled or licensed | 8.74% - 13.74% | Rates adjust without automatic payment | Up to 72 months | |
| Older than 7 years | 9.49% - 13.49% | Rates adjust without automatic payment | Up to 60 months | |
| MOTORCYCLES | New units that have never been titled or licensed | 9.99% - 13.99% | Rates adjust without automatic payment | Up to 72 months |
| Used units that have been titled or licensed | 9.99% - 13.99% | Rates adjust without automatic payment | Up to 72 months | |
| Actual APR will be based on creditworthiness and the term of the loan. *Rates for loans without automatic payment will increase by 0.25%. Refer to the Credit & Security agreement for specific disclosures. **Terms are based on the loan amount. Maximum term and loan-to-value based on approved credit. New boat/RV value based on Manufacturer's Suggested Retail Price. Used boat/RV value based on NADA retail marine surveys and may be required on boats. Preferred Marine Mortgages required on boat loans above $50,000. Collision and comprehensive insurance required. EXAMPLE PAYMENTS: New & Used Motorcycles: $215.01 a month based on a 60-month, $10,000 loan at 10.49% APR; Boats & RVs: $540.88 a month based on a 72-month, $30,000 loan at 8.99% APR; Used Boats & RVs: $370.62 a month based on a 72-month, $20,000 loan at 9.99% APR. | ||||