Vehicle Loans

Own your dream vehicle, Purchase LOCALLY or ONLINE!


Save Money

  • Affordable interest rate calculated on the reducing balance
  • No loan processing fees
  • No hidden charges

Peace of Mind

  • 100% financing
  • We can arrange affordable insurance coverage to protect your vehicle


  • Eight (8) years for new motor vehicles
  • Five (5) years for new passenger buses
  • Six  (6) years for pre-owned vehicles two years and under
  • Five (5) years for commercial vehicles and other used vehicles and buses
We take Bills of Sale on vehicles of all ages. Click Bill of Sale  tab for details. 


  • Up to $150,000 in loan protection coverage at no cost
  • Legal matters are promptly dealt with by our Legal Department
  • Through a standing order on salary, NCCU pays the annual premium on your vehicle insurance directly


  • A minimum of 10% of the total amount of loan requested 
  • Invoice from the auto dealer
  • Member Shares based on the amount of loan
  • Invoice for the insurance premium
  • Employed persons--most recent pay-slip or salary statement from your employer
  • Self-employed persons-- recent financial statements of the business
  • Details of security being offered
    • Security (COT, savings, guarantor) is needed to cover the difference between the loan amount and the Bill of Sale (click on Bill of Sale tab for details)
    • Interim security is needed for vehicles being bought on the internet and brought in from overseas
  • Your NCCU passbook(s) 
  • valid photo identification (eg. Social Security card or passport or driver's licence)
  •  Details of your liabilities and commitments (other loans, hire purchase, household expenses) 
  • If the approved loan is $77,000 and upwards or you are 50 years and older, a medical examination by an approved medical doctor is necessary for loan protection coverage
  • Member Shares/Loans click here

Vehicle Repairs

 In addition to the requirements for vehicle loans above, simply bring in:

    • Invoices for parts to be purchased
    •  Labour estimates from an auto repair shop or mechanic

    With a motor vehicle repair loan.


Bill of Sale

Bills of Sale are accepted on motor vehicles as follows:

new vehicles                              100% 
vehicles 1-3 years old                              100% of appraised value 
vehicles 4-6 years old                              75% of appraised value
vehicles 7-10 years old                              65% of appraised value

Where an older vehicle is certified to be in good mechanical condition, the Bill of Sale will be taken on 55% of the appraised value of the vehicle.   

The vehicle must be valued by an NCCU recognised appraiser and comprehensively insured for the duration of the loan

Additional security must be provided for vehicles three years and older.  


All loans are subject to NCCU’s Loan Policies and approval procedures

To find out details on what can be used as security click here.