Auto & RV Loans

Automobile & Trucks

• Terms based on year and mileage of vehicle
• Payment options:
  • Mailed
  • In person
  • Night depository
  • Online banking
  • Credit card by phone
  • ACH monthly transfer from another institution
  • Auto-transfer from an OFBC deposit account

RVs & Boats

• Maximum of 5-year maturity term
• Minimum percentage down payment required on new and used vehicles
• Payment options:
  • Mailed
  • In person
  • Night depository
  • Online banking
  • Credit card by phone
  • ACH monthly transfer from another institution
  • Auto-transfer from an OFBC deposit account

 Motorcycles & ATVs*

• Maximum term of 5 years for new vehicles, 4 years for used vehicles
• Minimum percentage down payment required
• Payment options:
  • Mailed
  • In person
  • Night depository
  • Online banking
  • Credit card by phone
  • ACH monthly transfer from another institution
  • Auto-transfer from an OFBC deposit account

Why is pre-approval important?

Applying for pre-approval for an auto loan gives you a clear understanding of your budget and expected interest rate before shopping for a vehicle. It strengthens your negotiating power with dealerships by showing you're a serious buyer with financing already secured. Additionally, pre-approval helps you compare loan terms from different lenders to ensure you get the best deal possible. Keep in mind that lenders typically require full coverage insurance for pre-approved auto loans, adding to your total cost of ownership.

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How much can you afford? Should you buy or lease your next vehicle?

Deciding whether to buy or lease your next vehicle depends on your financial goals and driving habits. Leasing offers lower monthly payments and flexibility, while buying builds equity and suits those who plan to keep the car long-term. Additionally, buying can be more cost-effective in the long run, especially if you drive extensively or prefer not to worry about mileage limits.

Buy Vs Lease Calculator