- Benefits/Good to Know
- Finance Your Farm Equipment
Good To Know
The electronic lien and the title program is a paperless method that allows TXDMV and a financial institution or lienholder to exchange vehicle title information electronically. The title record is sent electronically and the lienholder stores the electronic record instead of a paper Certificate of Title. The electronic title is created and held by TXDMV in the state motor vehicle database. When the loan is paid in full upon lien holder's request, the TXDMV will print a paper title and mail it to the owner.
10 business days after a loan has been paid off, JSC FCU will automatically release the electronic lien with TXDMV. After 10 business days has passed, the State will then mail a paper title to you within 7 to 10 business days to the address the Credit Union has on file. If the address on record is incorrect, please update your address with the Credit Union to ensure the title comes to the correct address. Any address changes should be made prior to loan payoff.
- The co-borrower, must be a JSC FCU member.
- Interest rate is based on the qualified co-borrower - parent, grandparent or legal guardian.
- Loan qualification is based on the parent, grandparent or legal guardian.
- The co-borrower may choose the name(s) listed on the title. (Both the borrower and co-borrrower or one or the other.)
- Sales Tax will be calculated based on 6.25% of the purchase price or 80% of SPV (Standard Presumptive Value); whichever value is higher.
- Valid Registration (Good through 60 days)
- If registration is expired or expiring within the next 60 days, member must update registration and provide a copy of registration receipt prior to or at loan closing.
Please visit www.txdmv.gov for Registration fees
- Title Application Fee: $35.50 ( Harris County)
* Taxes & State Fees may change without notice. Visit www.txdmv.gov for most current taxes and fees.
Finance Your Farm Equipment
JSC FCU offers extremely competitive interest rates and terms for both new and used vehicle. Use this guide to apply for a loan, find your vehicle and to finalize your loan – we even explain the process in between so you know exactly what’s needed to expedite the process.
Use the print icon located at the top right to conveniently print the provided information.
- What you will need to provide at time of application:
- Personal contact & employment Information
- Proof of Income
- Pay Check Stub
- Self Employed: Two years of tax returns
- VIN Number
- Amount Requesting & Down payment (if applicable)
- Member will receive a (email for online apps) from a loan officer/processor. This will be your point of contact for your loan closing.
- Member should contact their Insurance Agent to obtain an Insurance ID Card and an Insurance Policy or
listing the farm equipment and JSC FCU as with a max of $1,000. Member should bring this document to loan closing. (The collateral may not be added to your Homeowner's Policy. A separate policy must be purchased for your farm equipment. For example, Inland Marine or Personal Articles Policy)
- Member should contact their loan officer to schedule a closing appointment.
- Member and all parties listed on the title must be present.
- Documents to bring to closing
- Insurance Card and an Insurance Policy or listing JSC FCU as with a max of $1,000.
- Original title(s)
- Current State Issued ID (All parties to be listed on title)
- Documents to bring to closing
- Member chooses optional products:
- Member chooses payment options
- Mail payment coupons
- (from another financial institution)
- (through eBanking)
- Member can sign loan documents in person or electronically
Farm Equipment Values (NADA)
Only a member of a Credit Union can apply for a loan. To find out if you are eligible for membership or for information about becoming a member click here.
You may be able to finance an boat loan for up to 72 months. Please contact a JSC FCU representative for more details.
You may qualify to borrow up to 120% of NADA average trade in on a farm equipment. Please contact a JSC FCU representative for more details.
We prefer the farm equipment being less than 8 years old.
You will be contacted by the loan officer assigned to your application.
Loans are typically approved the same day.
Divide the interest rate by 365 days (# of days in a year), multiply by the principal balance (this gives you the per diem), then multiply that by the number of days from payment to payment. Interest is calculated daily on the unpaid principle balance of the loan.
Yes, we offer credit life and disability insurance on our farm equipment loans.
Whoever is on the loan can be on the title.
JSC Federal Credit Union no longer holds paper titles at the Credit Union.
You can request for receive your title sooner by completing the Early Title Release Form and paying with guaranteed funds (cash, verifiable cashier's check, transfer from JSC FCU account, Shared Branch account or wire transfer).
The JSC FCU Title Department will electronically release the Credit Union's lien the next business day. The State will then mail the title to the member within 7 to 10 business days to the
Title requirements are subject to change due to each individual loan scenario.