Auto Loans

Rates as low as 3.12% APR* for NEW Cars, Trucks, & SUVs

  • APR as low as 3.12% for up to 75 months*
  • No Prepayment Penalty – there’s never a fee for paying off auto loans early at LorMet Credit Union
  • Up to 125% financing on new vehicles and up to the retail value (as rated by NADA) on used vehicles
  • Credit Life Insurance and Credit Disability Insurance are available for purchase
  • GAP Coverage is also available for purchase
  • See your payments history and remaining loan balance anytime with Online Banking


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Visit our partner dealerships and ask for local LorMet financing when buying your next vehicle:

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LorMet is Lorain County’s Top Auto Lending Credit Union

*APR = Annual Percentage Rate. 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. Other rates and terms are available. Advertised APR is current as of December 22, 2020, and is subject to change without notice.

Loan Payment Example: For $25,000 borrowed at 3.12% APR for a term of 72 months, the monthly payment would be approximately $384.21. APR and payments may vary for other loan amounts and repayment terms.