VEHICLE & PERSONAL LOAN FAQS

YOUR GO TO RESOURCE FOR VEHICLE & PERSONAL LOAN QUESTIONS

Your one-stop destination for understanding the ins and outs of financing your transportation and personal needs.

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Vehicle Loan FAQs

Yes, you must be an SSSCU member to qualify for an auto loan refinance. The Silver State Schools Credit Union service area is the entire state of Nevada. While our core membership is comprised of those involved in the educational industry, such as employees, volunteers, students and parents of students, anyone can become a member. Learn more about how to qualify for a Silver State Schools Credit Union membership.

Yes, we offer loans for used vehicles. Contact us for more information, or start your application and we’ll get in touch to discuss your options.

Contact us to get started. We will verify that you meet the requirements for the discount, and our financing experts can help you decide which loan or line of credit works best for you.

Because credit unions are member-owned, credit union car loans may offer better rates and more flexible terms than other types of car loans. As a member of SSSCU, you share in our profits in the form of better rates and benefits.

No, a down payment is not always required for a vehicle loan. Contact us for more details, or start your application and we’ll get in touch to discuss your options.

Because we use your vehicle as collateral, your vehicle could be repossessed if you can’t make the payments on your Auto Title Loan. If you have trouble making your payments, get in touch with us right away and we’ll walk you through your options.

If you refinance your auto loan from another lender, your rate could be reduced up to 2%. However, keep in mind that your new rate will not be any lower than the “as low as” rate found on our Rates page for your type of vehicle. Your exact rate depends on a number of factors, including your credit history.

We offer loans for a range of different types of vehicles, including:

  • Cars, vans, and trucks
  • Boats, RVs, ATVs, and other power sport vehicles
  • Motorcycles
  • Towable trailers

No, we don’t check your credit when you apply for a secured personal loan. However, we do usually check your credit for other types of personal loans and lines of credit.

Yes, we check your credit when you apply for a vehicle loan. If you have a low credit score or a limited credit history, you may still qualify for a loan if you have a co-applicant. Contact us for more information, or start your application and we’ll get in touch to discuss your options.

Yes, we refinance loans for boats, RVs, and other vehicles.

Gap insurance, or Guaranteed Asset Protection, covers the difference between the actual cash value of your vehicle and the outstanding loan balance in case of a total loss.

It’s a service contract that covers certain vehicle repairs and services beyond the manufacturer’s warranty.

Personal Loan FAQs

No, you can only use the balances in your Certificate or Savings accounts as collateral for a secured personal loan.

No, you can borrow anywhere from $200 up to a maximum of $1000.

No, you can borrow any amount between $200 and $2000.

No. You can borrow less than $5,000 if you want to, but the maximum amount you can borrow with this loan is $5,000.

Yes. To qualify for this loan, you must have direct deposit of payroll into your SSSCU checking or savings account. Your loan payments must also be made by automatic transfer from an SSSCU checking or savings account. And keep in mind that all loans are subject to approval.

Yes. To qualify for this loan, you must have direct deposit of payroll into your SSSCU checking or savings account. Your loan payments must also be made by automatic transfer from an SSSCU checking or savings account.2 Anyone who lives in Nevada can join! Learn more about how to qualify for a Silver State Schools Credit Union membership.

Yes, you must be an SSSCU member to qualify for an SSSCU loan or line of credit. Anyone who lives in Nevada can join! Learn more about how to qualify for a Silver State Schools Credit Union membership.

Yes, you must be an SSSCU member to qualify for an Educator loan.3  Anyone who lives in Nevada can join! Learn more about how to qualify for a Silver State Schools Credit Union membership.

Yes, you must be an SSSCU member to qualify for a Classroom Supply loan.3 Anyone who lives in Nevada can join! Learn more about how to qualify for a Silver State Schools Credit Union membership.

We offer fixed-rate personal lines of credit, so your interest rate stays the same with an SSSCU Personal Line of Credit. But keep in mind that lines of credit from other financial institutions may have variable rates.

A secured personal loan can help you build your credit if you make all of your payments on time, because your payment history factors into your credit score.

However, it’s important to make sure that the loan fits into your budget. If you miss any of your loan payments, that can negatively affect your credit and leave you in a worse situation.

Contact us to get started. We will verify that you meet the requirements for the discount, and our financing experts can help you decide which loan or line of credit works best for you.

With a loan, you borrow all the money at once and pay it back according to a predetermined schedule over a fixed period of time.

With a line of credit, you borrow just what you need when you need it, and then you make payments each month until you’ve paid it back. If you need more money at any point, you can borrow more, up to your limit.

  • You MUST have Direct Deposit and Auto Transfer
  • Purchase of Service Agreement required from PERS (Public Employee’s Retirement System)
  • Proof of income (may be waived at the discretion of the credit analyst)

For Educators that have a “purchase of service agreement” from PERS.

No, we don’t check your credit when you apply for a secured personal loan. However, we do usually check your credit for other types of personal loans and lines of credit.

Yes, we check your credit when you apply for an unsecured personal loan or line of credit. If you have a low credit score or a limited credit history, you may still qualify for a loan if you have a co-applicant. Contact us to discuss your options.

Educator Loan FAQs

Yes. To qualify for an Educator loan, you must be full-time, licensed educator with proof of contract for the current school year in the state of Nevada.

Yes, our Classroom Supply loan is designed for K-12 teachers who work in the state of Nevada.2

You can use your Advanced Curriculum loan to pay for tuition for an accredited degree or continuing education program that furthers your skills as an educator. You must provide proof of enrollment in a program to qualify for the loan.

We offer a flexible range of loan terms for Advanced Curriculum loans. Talk with one of our loan experts to help you decide what term would work best for you.