Your Local Partner in Vehicle Financing
At SouthPoint, we want to help your dealership be successful. As a locally owned and operated financial institution, we fully appreciate the value that local businesses provide. You’ll be happy to hear that we’re not just another buyer; we want to become your partner. On this site you will find:
- SouthPoint Membership Eligibility
- Dealer Reserves & Rates
- Marketing Support
- Meet the Team
- Indirect Lending Checklist
- Sample Documents
Why SouthPoint is a smart choice…
For your Dealership:
- Excellent local financing option for qualified customers.
- Over 5,000 applications processed annually; 180 auto loans originated monthly.
- Exposure to over 33,000 SouthPoint members.
For your Customers:
- Competitive rate options for new and used vehicles, up to 84 months old.
- An array of auto-buying resources and calculators
Membership Eligibility
Membership at SouthPoint is open to persons who live, work, and worship; attend school in; and businesses and other legal entities located in the following counties in Minnesota.
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Membership qualification isn’t an issue! If they don’t qualify through one of our counties, they can join through our Foundation.
As a dealer partner with SouthPoint Financial Credit Union, you will receive a dealer reserve of 1.00% flat loan financed.
The rates you see below follow the same structure that we offer to our current members. With the com our low rates and a 1.00% flat dealer reserve, you can rest assured that your customer will choose to finance at your dealership.
Dealer Rates as low as 4.74% APR*
Dealer Rates - New/Used Auto
|
Credit Score |
LTV Max |
0-36 mo |
37-48 mo |
49-60 mo |
61-72 mo |
73-84 mo |
|
760+ |
115% |
4.74% |
4.99% |
4.99% |
5.49% |
5.99% |
|
700 - 759 |
105% |
4.99% |
5.24% |
5.24% |
5.99% |
6.24% |
|
640 - 699 |
100% |
7.70% |
7.99% |
7.99% |
9.00% |
9.45% |
|
600 - 639 |
90% |
11.20% |
11.70% |
11.70% |
12.20% |
12.95% |
|
550 - 599 |
80% |
15.20% |
15.70% |
15.70% |
18.00% |
18.00% |
|
549 or Less |
75% |
18.00% |
18.00% |
18.00% |
18.00% |
18.00% |
As a dealer partner with SouthPoint Financial Credit Union, you will receive a dealer reserve of 1.00% flat loan financed.
The rates you see below follow the same structure that we offer to our current members. With the com our low rates and a 1.00% flat dealer reserve, you can rest assured that your customer will choose to finance at your dealership.
Dealer Rates as low as 5.74% APR*
Dealer Rates - Other Secured (Boat, Motorcycle, ATV, PMC, Snowmobile, Trailer, Other)
|
Credit Score |
LTV Max |
0-36 mo |
37-48 mo |
49-60 mo |
61-72 mo |
73-84 mo |
|
760+ |
115% |
5.74% |
5.99% |
6.24% |
6.49% |
6.99% |
|
700 - 759 |
105% |
5.99% |
6.24% |
6.49% |
6.99% |
7.24% |
|
640 - 699 |
100% |
8.70% |
8.99% |
9.24% |
10.00% |
10.45% |
|
600 - 639 |
90% |
12.20% |
12.70% |
12.95% |
13.20% |
13.95% |
|
550 - 599 |
80% |
18.00% |
18.00% |
18.00% |
18.00% |
18.00% |
|
549 or Less |
75% |
18.00% |
18.00% |
18.00% |
18.00% |
18.00% |
As a dealer partner with SouthPoint Financial Credit Union, you will receive a dealer reserve of 1.00% flat loan financed.
The rates you see below follow the same structure that we offer to our current members. With the com our low rates and a 1.00% flat dealer reserve, you can rest assured that your customer will choose to finance at your dealership.
Dealer Rates as low as 5.24% APR*
Dealer Rates - RV/Camper Loan**
|
*APR = Annual Percentage Rate **Add 2% if older than 8 Years. 85-144 mo terms not eligible for GAP coverage (84 mo max term) |
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|
Credit Score |
LTV Max |
0-36 mo |
37-48 mo |
49-60 mo |
61-72 mo |
73-84 mo |
85-120 mo |
121-144 mo |
|
760+ |
115% |
5.24% |
5.49% |
5.74% |
5.99% |
6.24% - $10,000 minimum |
6.49% - $15,000 minimum |
6.74% - $25,000 minimum |
|
700 - 759 |
105% |
5.49% |
5.74% |
5.99% |
6.24% |
6.49% - $10,000 minimum |
6.74% - $15,000 minimum |
6.99% - $25,000 minimum |
|
640 - 699 |
100% |
8.45% |
8.70% |
8.95% |
9.45% |
10.20% |
N/A |
N/A |
|
600 - 639 |
90% |
11.95% |
12.20% |
12.45% |
12.95% |
13.70% |
N/A |
N/A |
|
550 - 599 |
80% |
18.00% |
18.00% |
18.00% |
18.00% |
18.00% |
N/A |
N/A |
|
549 or Less |
75% |
18.00% |
18.00% |
18.00% |
18.00% |
18.00% |
N/A |
N/A |
Dealer Reserves
|
Dealer Flat |
1.00% Flat of Loan Amount, Max $800.00 |
|
Rate Adjustments |
Add 2.00% for units over 8 years. |
|
Rate Discounts |
N/A |
|
Max Back End |
25% based off Retail NADA or MSRP |
|
Program Guidelines |
Membership is required. |
|
Membership Eligibility |
30 county areas: Blue Earth, Brown, Carver, Chippewa, Cottonwood, |
|
Vehicle Valuation |
LTV includes tax, title, and license based on invoice or Retail NADA. |
|
Maximum GAP |
Up to $1,000.00. |
|
Ancillary Product Cancellation |
Ancillary product cancellation check must be remitted to lender. |
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Title & Insurance |
Buyer requires full insurance coverage, including Comprehensive and Address for Lien Holder, Loss Payee, Loan Packets: |
Contact Us Directly
Need assistance? Call us direct at 877-794-6712 option 7! Our team is ready to help with any questions about financing through our indirect lending program.
Indirect Lending Checklist
Contract Funding Packages must include:
- If New Member:
- SPFCU Membership Application*
- Initial $10.00 deposit
- Copy of Photo ID
- All Members:
- SPFCU Promise to Insure form completed and signed
- Credit Application signed by all borrowers
- Direct Pay Form* if payment coming from another financial institution
- Contract signed by all borrowers and dealer
- Purchase Agreement and/or Title Application with SPFCU listed as Lien Holder
- SPFCU Notice to Co-Signer by Guarantor, if required
- SPFCU approval documentation
- Credit Score Disclosures (if applicable)
- Copy of NADA valuation print-out (used vehicles only)
- Copy of invoice (new vehicles only)
- Copies of contract for Warranty, GAP, etc.