Financing a repossessed vehicle with State Employees Credit Union is easy. Once you have decided on which vehicle you’re interested in purchasing, please proceed through the following steps:
OPTION #1 – FINANCING WITH SECU
- Meet with an SECU Loan Officer or Collection Clerk by phone, or in person at the branch location nearest to you. Your conversation with our Credit Union personnel will provide us with most of the information needed, however before a final decision can be reached we will need the following:
- A completed loan application, which must include the following information: (loan applications are available on–line (click here)or at any branch office of State Employees Credit Union)
- address, former address, social security number, home, work and mobile phone numbers, place or places of employment, length of employment, etc.
- a list of current debts with balances, payments and account numbers
- A recent paystub from your employer, or employers; or two years tax returns if self-employed
The approval of an application is dependent upon criteria such as ability to pay, credit history, collateral, and purpose. Loan decisions are usually made the same day you submit an application.
State Employees Credit Union is dedicated to providing affordable loan services to the membership, and our commitment to service remains our highest priority.
OPTION #2 – CASH PURCHASE
- Once you have decided on a vehicle to purchase, please communicate with the Collection Department that you will be purchasing with cash. The Collections Clerk will explain the process that will follow in an effort to expedite your purchase
OPTION #3 OTHER/OUTSIDE FINANCING
- Once you have decided on a vehicle to purchase, please communicate with the Collection Department that will have already secured financing through another source. The Collection Clerk will explain the procedure to follow in an effort to expedite your purchase.