Financing & Loans
Used/New Cars, Households & More in Chattanooga, TN
Chattanooga First Federal Credit Union offers valuable Member Rates on new car financing, used car financing, household goods loans, shared secured loans, motor home loans, mobile home loans, motorcycle loans, classic automobile loans, boat, motor & trailer loans, RV/camper loans, tractor/farm equipment loans and real estate loans.
Interested In Becoming A Chattanooga First Federal Credit Union Member?
Contact Us Today!
CFFCU Loans & Financing
New Car Financing
as of 08/10/2023
“New” vehicles may be up to two years old with less than 25,000 miles and can not have been previously financed by the CFFCU member.
The starting rates shown are the lowest rates available. Your rate may be higher depending on your credit score. Approval is not based only on credit score.
Term of Loan | APR (Up tp 100% MSRP) |
|---|---|
| 24 Months | 6.99%-17.99% |
| 36 Months | 6.99%-17.99% |
| 48 Months | 6.99%-17.99% |
| 60 Months | 7.49%-17.99% |
| 72 Months | 7.49%-17.99% |
Principal: $20,0000
# of Years: 5 (60 months)
Number of payments per year: 12
Base Interest Rate: 6.49%
Payment amount: $391.35
Total Interest: $3480.56
Used Car Financing
as of 08/10/2023
Term of Loan | APR (Up tp 100% NADA) |
|---|---|
| 24 Months | 7.99%-17.99% |
| 36 Months | 7.99%-17.99% |
| 48 Months | 8.29%-17.99% |
| 60 Months | 8.49%-17.99% |
| 72 Months | 9.49%-17.99% |
Principal: $20,000
# of Years: 5 (60 months)
Number of payments per year: 12
Base Interest Rate: 8.99%
Payment amount: $415.24
Total Interest: $4,914.13
Signature Goods Loan
as of 08/10/2023
REQUIREMENTS – See Important Lending Information below
Term of Loan | APR |
|---|---|
| 12-36 Months | 11.99%-17.99% |
| Over 36 Months | 12.99%-17.99% |
Principal: $1,000
# of Years: 1 (12 months)
Number of payments per year: 12
Base Interest Rate: 11.00%
Payment amount: $88.41
Total Interest: $60.91
Principal: $5,000
# of Years: 4 (48 months)
Number of payments per year: 12
Base Interest Rate: 11.50%
Payment amount: $130.51
Total Interest: $1,264.37
Shared Secure Loans
as of 8/10/2023
Any term longer will have to have a matching term CD
Maximum Term of Loan | Formula | APR |
|---|---|---|
| 12 Months | Shares/CD | +2.00% above |
Classic Automobile
as of 08/10/2023
Term of Loan | APR (Up to 100% NADA) |
|---|---|
| 24 Months | 10.79%-17.99% |
| 36 Months | 11.29%-17.99% |
| 48 Months | 11.79%-17.99% |
| 60 Months | 12.29%-17.99% |
| 72 Months | 12.79%-17.99% |
| 75 Months | 12.79%-17.99% |
| 76-84 Months | 13.29%-17.99% |
Principal: $25,000.00
# of Years: 5 (60 months)
Number of payments per year: 12
Base Interest Rate: 10.29%
Payment amount: $535.00
Total Interest: $7,099.62
Motorcycle Loans
as of 08/10/2023
Term of Loan | APR (100% List – New, Retail, Used) |
|---|---|
| 24 Months | 8.75%-17.99% |
| 36 Months | 8.75%-17.99% |
| 48 Months | 9.25%-17.99% |
| 60 Months | 9.25%-17.99% |
| 72 Months-over | 9.75%-17.99% |
Principal: $25,000
# of Years: 5 (60 months)
Number of payments per year: 12
Base Interest Rate: 9.25%
Payment amount: $522.22
Total Interest: $6,332.65
Boats, Motors & Trailer Loans
as of 08/10/2023
Term of Loan | APR (100% List – New, Retail, Used) |
|---|---|
| 24 Months | 9.99%-17.99% |
| 36 Months | 9.99%-17.99% |
| 48 Months | 9.99%-17.99% |
| 60 Months | 9.99%-17.99% |
| 72 Months | 10.99%-17.99% |
| 75 Months | 10.99%-17.99% |
| 76-84 Months | 11.99%-17.99% |
Principal: $20,000
# of Years: 4 (48 months)
Number of payments per year: 12
Base Interest Rate: 7.99%
Payment amount: $488.33
Total Interest: $3,439.81
Motor Home Loans
as of 08/10/2023
Term of Loan | APR (100% List – New, Retail, Used) |
|---|---|
| 24 Months | 10.99%-17.99% |
| 36 Months | 10.99%-17.99% |
| 48 Months | 10.99%-17.99% |
| 60 Months | 10.99%-17.99% |
| 72 Months | 11.99%-17.99% |
| 75 Months | 12.49%-17.99% |
| 76-84 Months | 12.99%-17.99% |
Principal: $60,000
# of Years: 6 (72 months)
Number of payments per year: 12
Base Interest Rate: 9.99%
Payment amount: $1,111.79
Total Interest: $20,048.22
RV/Camper Loans
as of 08/10/2023
Term of Loan | APR (100% List – New, Retail, Used) |
|---|---|
| 24 Months | 9.99%-17.99% |
| 36 Months | 9.99%-17.99% |
| 48 Months | 9.99%-17.99% |
| 60 Months | 9.99%-17.99% |
| 72 Months | 9.99%-17.99% |
| 75 Months | 10.49%-17.99% |
| 76-84 Months | 10.99%-17.99% |
Principal: $25,000
# of Years: 6 (72 months)
Number of payments per year: 12
Base Interest Rate: 9.99%
Payment amount: $463.18
Total Interest: $8,811.53
Tractor/Farm Equipment Loans
as of 08/10/2023
Term of Loan | APR (100% List – New, Retail, Used) |
|---|---|
| 12-24 Months | 11.99%-17.99% |
| 25-60 Months | 12.99%-17.99% |
Principal: $20,000
# of Years: 5 (60 months)
Number of payments per year: 12
Base Interest Rate: 10.99%
Payment amount: $434.97
Total Interest: $6,097.44
Mobile Home Loans
as of 08/10/2023
(Member must own the land that the mobile home will be on.)
Term of Loan | APR (100% List – New, Retail – Used) |
|---|---|
| 24-36 Months | 9.00%-17.99% |
| 37-84 Months | 9.00% – 17.99% |
Real Estate Loans
as of 1/2/2018
Important Specifications for all Real Estate Loans
| Maximum Mortgage Loan Amount | $400,000 |
| Maximum Mortgage Loan Aggregate | $500,000 |
| Maximum Mortgage Loan Term | 30 years |
| Minimum Monthly Payment | $100 |
| Maximum D/I ratio | 45.00% |
Members with first mortgages with the credit union may be eligible for a second mortgage at a rate of 1% higher that the current first mortgage rates (see current table) with no appraisal.
First Mortgages | APR |
|---|---|
| 30 year fixed | Please Call for Details |
| 20 year fixed | Please Call for Details |
| 15 year fixed | Please Call for Details |
| 10 year fixed | Please Call for Details |
| 5 year fixed | Please Call for Details |
Second Mortgages | APR |
|---|---|
| 20 year fixed | Please Call for Details |
| 15 year fixed | Please Call for Details |
| 10 year fixed | Please Call for Details |
| 5 year fixed | Please Call for Details |
Unimproved Property | APR |
|---|---|
| Fixed Rate (maximum – 10 years) | Please Call for Details |
No origination fee or points will be charged on mortgage loans.
Members with less than excellent credit may qualify for a loan up to 80% of the appraised value of property at a higher rate of interest.
Important Lending Information
All consumer loan rates, except share and CD secured, apply to members with excellent credit and a debt/income ratio of 49% or less and a beacon score of 740 and over. For beacon scores lower than 740 see the chart below to determine the percentage to be added:
Beacon Score | ++Add++ |
|---|---|
| 711 – 739 | 1.00% |
| 676 – 710 | 2.00% |
| 640 – 675 | 3.00% |
| 611 – 639 | 5.00% |
| 575 – 610 | 8.00% |
| Under 575 | 10.00% |
Bankruptcy – add 5% to beacon score rate unless the member has always paid on time and has reaffirmed or kept the credit union out of the bankruptcy plan. This additional 5% may be waived by management.
Maximum rate is 18%. Management can match rates, terms and/or payments.
New automobile rates apply to any vehicle not greater than 2 years old and less than 25,000 miles. The credit union offers GAP insurance, however, the member is not required to purchase this insurance from the credit union. If the member purchases GAP insurance from another source, the member must provide the credit union with proof of purchase.
Mobile home loans may only be made to members owning the property where the mobile home is to be placed.
Management may match rates.