Auto Loans

Auto Loans At LorMet Credit Union

Providing Lorain County with the best car financing options

Auto Loans

Convenient Loan Payment Options

Automatic Monthly Payment

Set up your account to automatically transfer your monthly payment from another financial institution

Make a Payment Online

Paying with another financial institution’s checking account? You can still make an online payment!

Online Banking & Mobile App

Paying with a LorMet Checking or Savings Account? Make a one-time payment with the LorMet Mobile App or Online Banking

VEHICLE

Auto Loan Rates As Low As 5.13% APR*

  • No Prepayment Penalty
  • Finance a term of up to 78 months for new and used
  • Up to 125% financing on new vehicles
  • Make payments easily online or with the LorMet Mobile App
* APR = Annual Percentage Rate

 

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The Best New And Used Car Dealers

Visit LorMet’s preferred local dealerships for a unique car-buying experience
World graph
85 +

Years Of Experience

$ 240 +

Million in Assets

21 K+

Loyal Members

$ 1 +

Billion Loans Granted

Vehicle Loan Rates

Explore our low rates for both new and used vehicles
Loan TypeAPR*Term
New Auto1as low as 5.32%Up to 36 months
New Autoas low as 5.13%Up to 78 months
Used Autoas low as 5.13%Up to 78 months
New Motorcycleas low as 5.13%Up to 72 months
Used Motorcycleas low as 5.13%Up to 72 months
New Boatas low as 5.13%Up to 72 months
Used Boatas low as 5.13%Up to 72 months
New Jet Skis, Snowmobiles, & ATV’sas low as 5.13%Up to 72 months
Used Jet Skis, Snowmobiles, & ATV’sas low as 5.13%Up to 72 months

*APR = Annual Percentage Rate. Rates and terms subject to change without notice – the information provided does not constitute a loan commitment. All loans are subject to underwriting policy and guidelines, credit verification and credit repayment history. Rates effective as of August 1, 2022.

Rates quoted are offered depending on the individual’s credit score. Qualifying factors include, but are not limited to, vehicle mileage, negative equity allowances, amount, and condition. TransUnion FICO Auto Enhance Score of 740 or above is required for LorMet’s lowest possible rate. Vehicles currently financed with LorMet are excluded from this offer. The APR listed above is for in-person direct member financing, which includes a loan documentation fee and maximum term financing. Indirect or on-site dealership financing offered by LorMet may have slightly higher APRs for new members. Not all applicants will qualify for the lowest APR or maximum term. All loans are subject to underwriting policy and guidelines, credit verification, and credit repayment history. Advertised rates and terms are subject to change without notice. Other rates and terms are available.

Loan payment example: For $25,000 borrowed at 5.13% APR for a term of 78 months, the monthly payment would be approximately $377.59. APR and payment may vary for other loan amounts and repayment terms. Calculate loan payment examples using our Loan Payment Calculator.

1 New purchases only; refinancing excluded. Minimum amount financed $10,000.00. Loan-to-value (LTV) not to exceed 100%. Loan payment example: For $20,000 borrowed at 5.32% APR for a term of 36 months, the monthly payment would be approximately $602.30. APR and payment may vary for other loan amounts.

Lease Buyout, Car Refinance and More

Enjoy additional benefits as a LorMet member customer
Refinance
Your Car

Car Refinance Loan Rates

Take advantage of our low rates! Refinancing your loan from a different auto lender could lower your monthly payments.

Refinance your car

Low APR vs Rebate

Find the best deal for you using our Low APR vs. Rebate Calculator

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85
Years Of
Existence

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Vince Urbin

Getting such good customer service isn’t always displayed nowadays. Thanks LorMet!

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Thomas O’Malley

I will never forget the Branch Manager’s genuine
helpfulness
and kindness.

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