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Taxi Loan Rates
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Loan Medallion Value $185,000 for May, 2010
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50,000 or Less |
50,001 - 90,000 |
90,001 - 138,000 |
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A.P.R. |
A.P.R. |
A.P.R. |
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36 Months |
6.25% |
6.50% |
6.75% |
60 Months |
6.50% |
6.75% |
7.00% |
Subject to Change: Interest rates and fees are subject to change at any time without prior notice. Loan may be amortized for
300 months with balloon payment due no later than 60 months.
Filing Fee: You will be charged for a lien-filing fee at the time of an advance if the Credit Union takes a security interest in your collateral. The amount of the filing fee will be based upon the amount of fee required by state law for the Credit Union to obtain a lien on your property. The amount of the filing fee will be disclosed on the voucher.
Late Charges: If you are 10 days or more late in making a payment, you will pay a late charge of 5% of the amount past due or a minimum of $10.00 whichever is greater.
Credit Verification Fee: A fee of $10.00 will be charged for obtaining credit verification on applicant.
Collection Costs: You promise to pay all costs of collecting the amount you owe under this agreement including court costs and reasonable attorney fees.
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