Auto Loans by Lacasa

Drive Forward with an Auto Loan Made Just for You

Lacasa goes beyond credit scores to help you secure reliable transportation and financial independence.

Amber and her son, Cooper, receiving the keys to their new vehicle from DeVon Swihart, Financial Empowerment Manager.

WHAT MAKES OUR AUTO LOAN DIFFERENT?

  • Personalized Support: You’ll receive one-on-one financial coaching from a HUD-Certified Counselor who will guide you through the application process and offer support services throughout the life of the loan.
  • Credit-building opportunity: Every on-time payment helps improve your credit, and you’ll also have access to Lacasa’s Master It Series classes to strengthen your financial skills.
  • Purpose-driven lending: This is a repayable loan specifically for purchasing a reliable vehicle.
  • Affordable and fair terms: Fixed interest loans range from $6,000-$12,000 with affordable monthly payments over a 4-year term – that cannot be found at any other resource in Elkhart County.
  • Built on Relationships: This is a relationship-based lending program that considers more than just your credit score. It’s designed to be ethical, accessible, and supportive.

Before you apply

LOAN ELIGIBILITY REQUIREMENTS

  • Applicant must be an employed Elkhart or St. Joseph County resident with a valid driver’s license.
  • Applicant must have a credit score at or below 600.
  • Applicant’s household income is below 80% of Area Median Household Income Limits. (see below)
  • Applicant must be able to meet eligibility & coaching requirements.

HOUSEHOLD INCOME LIMITS

80% of Area Median Income

  • Household of 1: $50,150
  • Household of 2: $57,300
  • Household of 3: $64,450
  • Household of 4: $71,600
  • Add $5,700 for each additional household member

CHECK YOUR CREDIT SCORE

Your bank or credit card company may offer free credit score service.

Free credit score platforms include:

  • Credit Karma
  • Credit Sesame
  • Intuit Mint

Note that these may not provide TransUnion FICO score 4 which will be used by Lacasa to determine your eligibility.

Loan Servicing by 

Interra Credit Union

DON’T QUALIFY FOR THE AUTO LOAN?

Lacasa offers other ways to help you build credit and save for a vehicle.
Consider our DreamSavers Matched Savings Program—when you save $1,500, we’ll match it with $4,500 to put toward the purchase of a car.
Eligibility requirements apply.

Frequently Asked Questions

Who is eligible to apply?

Applicants must reside in Elkhart or St. Joseph County, be employed, and have a credit score of 600 or lower (TransUnion FICO 4). Income must fall below 80% of the Area Median Income for your household size.

How much can I borrow?

You can apply for a loan ranging from $6,000 to $12,000—matched to your transportation needs and budget.

What makes this loan different from others?

It comes with a fixed, affordable interest rate, personalized financial coaching, and helps build credit through consistent, on-time payments.

What’s the application process like?

1. Submit the online inquiry form.
2. Meet one on one with a Lacasa coach to finalize your application and plan.
3. Complete financial education, submit documentation, and adhere to program requirements.
4. Purchase your vehicle and begin repayments.

What support does Lacasa provide throughout the process?

Every borrower receives individual financial coaching, credit-building support, and education resources to help ensure long-term financial stability. Borrowers will have access to their financial coach for the life of their loan. This allows them to reach out to receive support if they lose a job, have an unexpected expense, or are falling short in their budget.

Why does Lacasa offer auto loans?

Reliable transportation is crucial for maintaining employment and supporting families. Traditional financing often isn’t available for individuals with lower credit scores.

Is the loan serviced through Lacasa?

Loan servicing is handled in partnership with Interra Credit Union to ensure reliable and professional management of your repayment.

How do I get started?

Begin by completing the inquiry form on the Auto Loans page. A Lacasa team member will respond to guide you through eligibility, coaching, and next steps.

What is the interest rate for the auto loan?

Lacasa Auto Loans come with a fixed, affordable interest rate, well below what you find through subprime lenders. The average interest rate for someone with a credit score below 600 is 28%. This program bridges that gap and fosters financial resilience by offering a fixed 14% interest rate. The interest rate reflects the program’s goal of maintaining financial sustainability while serving individuals who may have less-than-perfect credit. Offering rates below market rate could jeopardize the program’s ability to continue providing support to clients over the long term.

What are the repayment terms?

The loan term is 4-years. Your coach will help you build a repayment plan that fits your income and goals.

Can I pay off the loan early?

Yes! There’s no penalty for early repayment, and doing so can save you money on interest and help build your credit more quickly. We encourage people who have built their credit score while having their loan to apply to refinance their loan at another financial institution for a lower interest rate if it’s available to them.

What should I bring to my first meeting with a Lacasa coach?

Bring the following to help us better understand your financial picture:
• Recent pay stubs (last 30 days)
• Any additional income for adult members of the household
• Additional income such as SSI or Child Support
• Bank statements
• A list of your monthly expenses
• Any vehicle information if you’ve already begun your search

What happens during coaching?

Coaching is a collaborative session focused on helping you succeed. Together, you’ll:
• Review your credit and income
• Review your current budget and work to create a realistic budget
• Discuss loan eligibility
• Explore trusted vehicle dealership options
• Build a personalized financial success plan

What if I don’t qualify right away?

If you’re not quite eligible yet, Lacasa will continue to work with you. Your coach can help you strengthen your credit, improve budgeting, and take steps toward future approval.