Do all credit unions have stipulations on the age and mileage of vehicles?

I want to get a diesel truck for work. I've been looking at full-sized diesel trucks that are 10 to 15 years old with 100,000 miles. My bank said they wouldn't finance these trucks because of age and mileage. Do credit unions have the same stipulations?

Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“Credit unions may have looser stipulations for financing, but every credit union has its own set of regulations.
Many credit unions have a cutoff for age and mileage. Depending on the credit union, this is around 10 years and 100,000 to 150,000 miles. The cutoff protects them from a car that could essentially become worthless as collateral if it breaks down.
Beyond their cutoff, credit unions also take your risk into account, including your current amount of debt and your credit score. If you have a higher credit score and are considered lower risk, they may consider financing an older vehicle.
If you can find a lender, remember that you’ll also need full coverage
car insurance
, so don’t max out your budget on the vehicle alone.
While insurance can be expensive, that doesn’t mean it has to be expensive. Try using the free
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.

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