Finty
Police Credit Union

Police Credit Union Commercial Vehicle Fixed Loan

Equipment finance

Commercial Vehicle Fixed Loan

Written byDavid Boyd

6.49%

interest rate a year, from

Establishment fee
$295
Monthly fee
Not published
Borrow
Not published

Loan details

Rates

Interest rate (a year)
6.49%
Rate type
Fixed
Security
Not published
Type of finance
Equipment finance

Limits and fees

Loan amount
Not published
Loan term
Up to 7 years
Establishment fee
$295
Monthly fee
Not published

How it compares

Against the other business loans we compare. Typical means the middle half of them.

Cost of $20,000 over 5 years

$3,769

Interest and fees at its starting rate. Typical is $4,272.

Setup fee

$295

A typical setup fee is $395.

Longest term

7 years

7 years is the usual longest term.

Pros and cons

Pros

  • One rate for everyone. Everyone approved gets 6.49%, so the rate you see is the rate you get.
  • A fixed rate. Your repayments stay the same for the whole loan, which makes it easier to budget.
  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.

Cons

Nothing stands out.

Similar loans

Business loans of the same kind from other lenders that start at a similar interest rate.