TVFCU finances automobile and motorcycle loans purchased from a dealer or an individual. An auto/motorcycle loan application must be completed by the member and current proof of income provided.

• TVFCU will finance a vehicle that is year 1998 or newer (vehicle can be up to 7 years old and must be listed in the NADA book to be used as collateral)
• The vehicle must book for the amount borrowed
• Only collateral registered and titled in New York State will be considered
• TVFCU will not finance a vehicle where the title shows the vehicle has been salvaged
• An insurance binder must be provided showing the vehicle is covered by comprehensive and collision insurance and must show a $1000.00 deductible for each

Purchase from a dealer

Purchase offer must be provided showing the vehicle identification number. Disbursement will be made to the dealer. The value of the vehicle will determine the length of your loan.

Purchase from an individual

A signed purchase agreement must be presented showing the date, price, description, and condition of the vehicle, mileage, and the vehicle identification number. A copy of the title showing clear ownership must be provided. Proceeds will be made payable to the seller if there is no lien holder. If there is a lien on the vehicle, you must provide us with the information needed to pay off the lien holder and any remaining monies may be made payable to the seller.

Refinance from another institution

TVFCU will need the loan payoff amount for the existing loan. In addition, we will need your title and an insurance binder. The book value of the vehicle will be established based on NADA figures, which will determine the maximum loan amount. TVFCU will pay off your existing loan by issuing a check for the payoff to the current lienholder.

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