Frequently Asked Questions/Vehicle Loans
How much will the Credit Union finance for new vehicles?
You can finance up to 100% of the purchase price, including tax, tags, and warranty for up to 72 months (6 years).
If the loan amount is $30,000.00 or more, we will finance up to 90% of the purchase price for up to 84 months (7 years).
How much will the Credit Union finance for used vehicles?
The Credit Union will finance up to 100% of the retail value from the NADA Guide plus any proven options for a vehicle up to 7 years old or newer.
How can I apply for a vehicle loan?
You can apply online, by stopping in any of our offices, or by calling our Call Center at (215) 996-3700. Yes. The Credit Union must be recorded as loss payee on your insurance policy until the loan is paid in full; unless the vehicle is worth less than $5,000.
What terms does the Credit Union offer?
We offer terms from one year to seven years, depending upon the year of the vehicle.
Does the Credit Union belong to a Auto Dealer Network?
Yes. We have lending relationships with a number of area auto dealers. When you shop at any of these dealers, you can apply on the spot for credit union financing. Just identify yourself as a Merck Sharp & Dohme Federal Credit Union member. Click here to see our affiliates. Yes. You will enjoy a 0.25% interest rate reduction when you repay your loan automatically.
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