Auto Loans
No payments for 90 days!1
No matter where you are in life, purchasing your first vehicle is an exciting time. We also understand it can come with a lot of decisions. With a flat rate of 10.99% APR4, our first-time auto loan program is designed for those with limited or no credit history. Financing a vehicle for the first time can be an intimidating process, but Parda is ready to help you get on the road.
The details:
- Great rate of 10.99% APR4
- 1% rate discount5 available
- No previous credit history required
- Must be 18 years old or older
- $500 minimum down payment required
- Loans available up to $20,000
- Terms available up to 60 months
- Vehicle must be newer than 15 years old with mileage under 120,000
Five things to do before visiting a dealership
To help make your next car-buying experience as smooth as possible, here is a list of things to do before you step foot on a dealer’s lot.
1. Set a budget
Establishing the amount you want to spend shows the car salesperson that you have thought through the process. Doing so will provide you with more control to get the deal you deserve. It is also important to understand how much you can afford in monthly payments and how much you will have to pay in interest over the course of the loan. Don’t forget to consider operating costs, including insurance.
2. Do your research
Thanks to the internet, there’s no need to enter a car dealership uninformed. Don’t know where to start? Parda has partnered with Banzai, a not-for-profit financial literacy organization that provides an entirely FREE collection of courses, coaches, calculators, and more, specifically about the car buying/financing process!
3. Apply for financing
Securing Credit Union financing before visiting a car dealership is usually the smartest bet and will put you at a tremendous advantage. You can apply for a car loan and get pre-approved with Parda beforehand, so that you can shop at the dealership as a cash buyer and/or be able to negotiate better.
4. Take your time
We get it. A new car is exciting. But it’s also a big decision. You should never feel pressured into making an impulsive decision about buying a car. The car that you buy will effectively be a “life partner” for the duration of your ownership period. Getting the car-owner match right (or wrong) can affect your daily life from the moment you buy it until the day you sell it. So, take all the time you need. Test drive different vehicles, complete as much research as needed, and compare all the pros and cons.
5. Plan your visit
Before visiting the dealership, create a specific plan. Planning in advance can help withstand the high-pressure tactics that some dealerships employ. Choosing the right dealership, getting a loan pre-approved at Parda, having your research done, and more, will help you save the time and the stress that can come with buying a new car.
Discounted auto insurance for members
Insurance can be one of the most expensive parts of car ownership. Thankfully, Parda’s partnership with TruStage gives you access to members-only savings on quality coverage.6
Already financed a car elsewhere?
If you have any of your vehicles financed through another organization, it pays to get a second opinion from Parda.
Chances are good that we can lower your interest rate, your monthly payment, or both. Compare our auto loan rates to those on your current loan, and then contact us to find out how much you can save by refinancing your vehicle with Parda.6
Membership required. For qualified borrowers. Approval, rate, and term based on individual credit, value of collateral, and ability to repay. Rates and terms subject to change at any time.
*Membership required. For qualified borrowers. Approval, rate, and term based on individual credit, value of collateral, and ability to repay. Rates and terms subject to change at any time. Refinancing option does not apply to current Parda Federal Credit Union loans. Some restrictions may apply. Application must be approved before November 30, 2025 at 11:59pm. Minimum loan balance of $10,000 required. Credit score above 640 is required for payments for 90 days eligibility. If making no payments for 90 days, interest accrues at time of the loan. See official rules to learn how to enter by postcard.
November 2025 Auto Loan Refinance Giveaway Official Rules
NO PURCHASE NECESSARY. GIVEAWAY OPEN TO U.S. RESIDENTS, OVER THE AGE OF 18, RESIDING IN THE U.S. ONLY (GIVEAWAY VOID OUTSIDE THE U.S.) THROUGHOUT THE GIVEAWAY PERIOD. GIVEAWAY SHALL BE CONSTRUED AND EVALUATED ACCORDING TO UNITED STATES LAW. DO NOT ENTER THIS GIVEAWAY IF YOU ARE NOT A LEGAL U.S. RESIDENT. VOID WHERE PROHIBITED.
1. HOW TO ENTER: No purchase necessary, and no entry fee, payment, or proof-of-purchase necessary to participate in Giveaway. You will automatically be entered to win upon auto loan closure. Giveaway starts November 1, 2025 at 12:00 AM EST and ends November 30, 2025 at 11:59 PM EST. This is to be referenced as the "Giveaway Period". Entries submitted by postcard must be delivered to 2601 Cambridge Ct Suite 210 Auburn Hills, MI 48326 before November 30, 2025. Limit one (1) entry per individual. All entries become the property of Parda Federal Credit Union (Parda Credit Union) and will not be returned to entrant.
2. Prize: iPad Pro
3. DRAWING: The winner will be selected in a random drawing from among the other eligible entries received during the giveaway period. The drawing will be conducted on December 5, 2025 using the platform Gleam.
4. ELIGIBILITY: YOU MUST BE A LEGAL U.S. RESIDENT OVER THE AGE OF 18, AND RESIDENT OF THE UNITED STATES, RESIDING IN THE UNITED STATES THROUGHOUT THE GIVEAWAY PERIOD TO BE ELIGIBLE TO WIN. Parda Credit Union may require potential winners to submit proof of legal U.S. residency to determine eligibility and as a condition of prize award. Employees, Directors, and Committee Members of Parda Credit Union and its respective subsidiaries, divisions, affiliates, suppliers, printers, distributors, and advertising, promotional and judging agencies and the immediate family members of each, are not eligible to participate or win.
5. GENERAL: This giveaway is subject only to the laws in the United States. Prize will be awarded and/or delivered only to an address within the United States. Any unclaimed prize will not be awarded. Winners will be solely responsible for all applicable federal, state, and local taxes on the prize.
6. CONDUCT: By entering this giveaway, entrants agree to be bound by these official rules and the decisions of the winner that shall be final and binding in all respects. Failure to comply with these official rules may result in disqualification. Parda Credit Union reserves the right at its sole discretion to disqualify any individual found to be tampering with the entry process or the operation of the giveaway or the website; or to be acting in any manner deemed by Parda Credit Union to be in violation of the official rules; or to be acting in any manner deemed by Parda Credit Union to be unsportsmanlike or disruptive, or with intent to annoy, abuse, threaten or harass any other person. CAUTION: ANY ATTEMPT BY A USER OR ENTRANT OR ANY OTHER INDIVIDUAL TO DELIBERATELY DAMAGE ANY WEB SITE OR UNDERMINE THE LEGITIMATE OPERATION OF THE GIVEAWAY IS A VIOLATION OF CRIMINAL AND CIVIL LAWS AND SHOULD SUCH AN ATTEMPT BE MADE, PARDA CREDIT UNION RESERVES THE RIGHT TO SEEK DAMAGES FROM ANY SUCH PERSON TO THE FULLEST EXTENT PERMITTED BY LAW.
7. LIMITATIONS OF LIABILITY: Parda Credit Union assumes no responsibility or liability for: (a) any incorrect or inaccurate entry information, or for any faulty or failed electronic data transmissions; (b) any unauthorized access to, or theft, destruction or alteration of entries at any point in the operation of this giveaway; (c) any technical malfunction, failure, error, omission, interruption, deletion, defect, delay in operation or communications line failure, regardless of cause, with regard to any equipment, systems, networks, lines, satellites, servers, computers or providers utilized in any aspect of the operation of the giveaway; (d) in accessibility or unavailability of the Internet or the Web Site or any combination thereof; (e) any injury or damage to participants or to any other person's computer which may be related to or resulting from any attempt to participate in the giveaway or download of any materials in the giveaway. If, for any reason, the giveaway is not capable of running as planned for reasons which may include without limitation, infection by computer virus, tampering, unauthorized intervention, fraud, technical failures, or any other causes which may corrupt or affect the administration, security, fairness, integrity or proper conduct of this giveaway, then sponsor reserves the right at its sole discretion to cancel, terminate, modify or suspend the giveaway in whole or in part.
8. WINNER NOTIFICATION: The winner will be notified within 7 days of the selection via email and/or phone call using the information provided upon entry. Prize can be mailed or picked up from a Parda Credit Union location.
9. RELEASES: All entrants, as a condition of entry into the giveaway, agree to release Parda Credit Union and its employees, directors, committee members, subsidiaries, divisions, affiliates, suppliers, printers, distributors and advertising, promotional or judging agencies, from and against any and all liability, claims or actions of any kind whatsoever for injuries, damages, or losses to persons or property which may be sustained in connection with accessing the web site, submitting an entry or otherwise participating in any aspect of the giveaway, the receipt, ownership or use of any prize awarded, or while preparing for, participating in or traveling to or from any prize-related activity or any typographical or other error in these official rules or the announcement of offering of any prize. Entrants agree that Parda Credit Union may use, for marketing or other purposes, information that entrants voluntarily provide in conjunction with the giveaway, and entrants hereby release Parda Credit Union from any claims related to such use of such information. The winners shall bear all risk of loss or damage to their prize after it has been delivered. Parda Credit Union makes no representations or warranties of any kind concerning the appearance, safety or performance of any prize. Except for residents of TN and where prohibited by law, winners grant to Parda Credit Union the right to print, publish, broadcast and use worldwide in any media now known or hereinafter known (including without limitation use online at the Web Site) the winners' names, addresses, voices, statements, pictures or other likenesses, without additional compensation, for public relations, advertising and promotional purposes as may be determined by Parda Credit Union. Winners also agree that, upon reasonable notice, winners will use good faith efforts to be available to travel for the promotional purposes of Parda Credit Union for a period of one year from the drawing date. In the event winners are required to travel, sponsor agrees to pay all costs associated there with.
10. WINNER LIST: For the name of the winner, email your request within four (4) weeks of the end of the Entry Period to marketing@parda.com. In the subject line, please reference "November 2025 Auto Loan Refinance Giveaway".
11. SPONSOR: Parda Credit Union 2601 Cambridge Ct Suite 210 Auburn Hills. MI 48326
1 Interest accrues at the time of the loan. Parda reserves the right to end this promotion at any time. Some restrictions may apply.
2 APR — Annual Percentage Rate. Rate disclosed above is the lowest rate available and includes a direct deposit discount with Parda Federal Credit Union. Rate is based on individual credit history (credit score), term, collateral value, and ability to repay (proof of income). APR is subject to change. Contact a Credit Union representative for complete details. Refinancing option does not apply to current Parda Federal Credit Union loans. Some restrictions may apply. The estimated monthly payment is $29.86 per $1,000 borrowed at 4.74% for 36 months.
3 Skip-A-Pay offers exclude Line of Credit, Parda Premier Line of Credit, all Real Estate Loans, and balloon auto loans. Interest will continue to accumulate on your loan(s) during the month you skip your payment.
4 APR = Annual Percentage Rate. Membership required. Must be 18 years or older to apply. To qualify, you must be a first-time buyer with no previous auto credit. The maximum amount of $20,000. Max term 60 months. Minimum down payment of $500 required. Minimum job time required is 90 days for loan amounts up to $15,000 and 180 days for loan amounts up to $20,000 with verified income. Vehicle must be 15 years old or newer with less than 120,000 miles. For qualified borrowers. Not all applicants will qualify. Approval based on loan to value and ability to repay. Not eligible for Skip-A-Pay. The estimated monthly payment is $21.74 per $1000 borrowed at 10.99% for 60 months.
5 1% discount offered for completion of Banzai Teen Course Life Scenarios. Borrower must show proof of course completion with a passing score of 80% before loan closure to earn discounted rate.
6 TruStage® Auto and Home Insurance program is made available by TruStage Insurance Agency, LLC and issued by ©Liberty Mutual. The insurance offered is not a deposit account, and is not federally insured, sold, or guaranteed by Parda Federal Credit Union. Discounts are not available in all states, and discounts vary by state.
7 Refinancing option does not apply to current Parda Federal Credit Union loans. Some restrictions may apply.
