Taxi Loan Rates
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Loan Medallion Value $285,000 for December, 2011
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50,000 or Less
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50,001 - 100,000
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100,001 - 210,000
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A.P.R.
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A.P.R.
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A.P.R.
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36 Months
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5.50%
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5.75%
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6.00%
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60 Months
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5.75%
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6.00%
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6.25%
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Subject to Change: Interest rates and fees
are subject to change at any time without prior notice.
Loan may be amortized for 360 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 10% of the amount past due or a minimum of $25.00 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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