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  Navy Federal Credit Union Auto Loan

Navy Federal Credit Union Auto Loan

in Auto Loans from Navy Federal Credit Union

Unaffiliated

Navy Federal Credit Union Auto Loan

Unaffiliated

in Auto Loans from Navy Federal Credit Union

Net Recommendation Score +100

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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Highlights
Community Rating

Rating not yet determined  

Credit Score Range 650 - 850
Loan Amount N/A
APR  (Fixed APR) 2.99% - 19%
Loan Term (Months) 12 - 96 months

Navy Federal Credit Union Auto Loan Review

Navy Federal Credit Union Auto Loan is offered by Navy Federal Credit Union, a credit union founded in 1933 and based in Vienna, VA. Navy Federal Credit Union Auto Loan is available in 50 states (and Washington, DC).

Navy Federal auto loan FAQ

What APR does Navy Federal auto loan offer on its car loans?

Navy Federal auto loan offers a fixed apr car loan product that ranges from 2.99% APR up to 19% APR.

Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.

What is the maximum auto loan term you can get with Navy Federal auto loan?

Navy Federal auto loan has car loans with terms ranging from 12 to 96 months. Having the option of longer terms -- terms can range up to 144 months -- allows borrowers to take on larger auto loan amounts while keeping monthly payments more affordable. However, the longer the term of your auto loan, the more interest you will pay.

Does Navy Federal auto loan charge an origination fee?

No, Navy Federal auto loan does not charge a loan origination fee.

An auto loan origination fee is what some lenders charge for processing an auto loan application and funding an auto loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.

Does Navy Federal auto loan charge a late fee?

Yes, Navy Federal auto loan charges borrowers with a late payment penatly fee of up to $29

Does Navy Federal auto loan charge prepayment fees?

Yes, Navy Federal auto loan does charge borrowers a fee if they pay their loans early. Consider prepayment fees when you choose a lender because prepayment can reduce or even cancel the interest savings of repaying a loan early.

Can I pay off early my Navy Federal auto loan loan?

Yes, you can. However, Navy Federal auto loan charges a prepayment fee if you pay your car loan early. This fee could reduce or eliminate the savings from paying the car loan early.

What do you need to qualify for Navy Federal Credit Union Auto Loan?

Applicants with a credit score of at least 650 and up to 850 may be eligible for Navy Federal Credit Union Auto Loan. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

Navy Federal Credit Union Auto Loan does not have or does not disclose a minimum annual income eligibility requirement. Navy Federal Credit Union Auto Loan will consider borrowers regardless of their employment status if they can prove their ability to repay their obligations. Note that borrowers can add a cosigner or a co-borrower to either meet eligibility requirements or qualify for lower interest rates.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Navy Federal Credit Union Auto Loan. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Navy Federal Credit Union Auto Loan. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

  • Recent pay stubs
  • Proof of income
  • Driver's license
  • Proof of identity

What is the estimated funding time for a car loan via Navy Federal auto loan?

Navy Federal auto loan will typically approve (or deny) a car loan application within 48 hours and fund the car loan within 7 business days of approval.

Does Navy Federal Credit Union Auto Loan report your account activity to credit bureaus?

Yes, Navy Federal Credit Union Auto Loan reports your account activity to the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

Navy Federal Credit Union Auto Loan Disclosure: "Rates are based on an evaluation of credit history, so your rate may differ."
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From Navy Federal Credit Union Auto Loan

We're a member-owned and not-for-profit credit union exclusively serving the military, veterans and their families. Our members are owners, not just customers, and each one of them has a vote. Because we’re not-for-profit, any surplus funds are returned to our members as dividends, reduced loan interest and improvements to our products and services. That means we have great rates, lower fees and exclusive discounts.

Whether you’re looking to buy a new or used car, or even want to refinance your auto loan from another lender, we’re here to help. We offer auto loans with great rates, 100% financing, exclusive military discounts often with decisions in seconds. Check out how much you can save—you’ll finally stop dreaming and start driving.

Contact

Hours of Operation

  • Sunday Closed
  • Monday 7:00am - 5:00pm
  • Tuesday 7:00am - 5:00pm
  • Wednesday 7:00am - 5:00pm
  • Thursday 7:00am - 5:00pm
  • Friday 7:00am - 5:00pm
  • Saturday Closed

Other Services by Navy Federal Credit Union

Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

Application Fee $0
No Origination Fee
Late Fee Amount $29
Employment Statuses Considered
  • Other
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
  • Unemployed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Joint Loan Applications Accepted
  • Co-borrower
  • Cosigner
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Verification Documents Required
  • Driver License (or other photo ID)
  • Recent Pay Stubs
  • Proof of Income
  • Proof of Identity
Credit Score Range 650 - 850
Approval Speed 48 hours
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Funding Time Range 1 - 7 days
Payment Options
  • Automatic Payments
  • Check by mail
APR (Fixed APR) 2.99% - 19%
Loan Term 12 - 96 months

Navy Federal Credit Union Auto Loan Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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