Business Vehicle Financing
You can apply for Business Vehicle Financing for a business vehicle that will be insured, titled, and registered in
your business name. Loan terms can be up to seven years for all vehicle loans based on credit approval.
Current Prime Rate = 3.25%
- Loan amounts from $5,000 - $250,000
- Interest rate is prime rate (fixed) for new vehicles with a loan term of 1 -5 years
- Interest rate is prime rate (fixed) + .25% for new vehicles with a loan term of 6-7 years
- Interest rate is prime rate (fixed) + .25% for used vehicles with a loan term of 1 -5 years
- Interest rate is prime rate (fixed) + .50% for used vehicles with a loan term of 6-7 years
- New and used business vehicles are eligible
- Maximum loan to value for all vehicles is 80%
- Used vehicles will be limited to a maximum age of 5 years including the current model year
- Minimum of one year business longevity required
To apply, print out the following forms and drop off at your nearest Teachers
branch or mail to: Business Lending Department, Teachers, PO Box 9005,
Smithtown, NY 11787-9005.
Your business must have longevity of at least one year to complete this application.
- Business Vehicle Financing Application
For any help in completing this application or if your business has less then one year longevity,
please call a Teachers Business Development Officer at 631-698-7000 x 1687 or at firstname.lastname@example.org.
Loans are subject to credit approval.
Business owners must be members or eligible for membership at Teachers
and must provide personal guarantees for loan request.
Rates subject to change.