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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

+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 Credit Union Auto Loan FAQ

What APR does Navy Federal Credit Union Auto Loan offer on its auto loans?

Navy Federal Credit Union Auto Loan offers a fixed APR auto 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 loan term you can get with Navy Federal Credit Union Auto Loan?

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

Does Navy Federal Credit Union Auto Loan charge an origination fee?

No, Navy Federal Credit Union Auto Loan does not charge a loan origination fee.

A loan origination fee is what some lenders charge for processing, underwriting, and funding a 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 Credit Union Auto Loan charge a late fee?

Yes, Navy Federal Credit Union Auto Loan charges borrowers with a late payment penatly fee of up to $29

Does Navy Federal Credit Union Auto Loan charge prepayment fees?

Yes, Navy Federal Credit Union 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 Credit Union Auto Loan loan?

Yes, you can. However, Navy Federal Credit Union charges a prepayment fee if you pay your auto loan early. This fee could reduce or eliminate the savings from paying the auto 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 an auto loan via Navy Federal Credit Union Auto Loan?

Navy Federal Credit Union Auto Loan will typically approve (or deny) an auto loan application within 48 hours and fund the 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.

Availability

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

Feature Breakdown

Application Fee $0
No Origination Fee  
Late Fee Amount $29
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
  • 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
  • Recent Pay Stubs
  • Proof of Income
  • Proof of Identity
  • Driver License (or other photo ID)
Credit Score Range 650 - 850
Approval Speed 48 hours
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Funding Time Range 1 - 7 days
Joint Loans Available  
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

+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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