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  Navy Federal Credit Union Auto Loan

Navy Federal Credit Union Auto Loan

in Auto Loan Refinancing from Navy Federal Credit Union

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Navy Federal Credit Union Auto Loan

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in Auto Loan Refinancing from Navy Federal Credit Union

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

Navy Federal Credit Union Auto Loan Review

Navy Federal Credit Union Auto Loan is an auto loan refinance offering by Navy Federal Credit Union, based in Vienna, VA. Founded in 1933, Navy Federal Credit Union offers auto refinance loans in 50 states (and Washington, DC).

What are the auto loan refinancing rates offered through Navy Federal Credit Union Auto Loan?

Navy Federal Credit Union Auto Loan offers a fixed APR auto loan refinancing product that ranges from 2.99% APR up to 19% APR.

What is the maximum loan term you can get with Navy Federal Credit Union Auto Loan?

Navy Federal Credit Union Auto Loan offers auto refinancing 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 auto refinancing loan, the more interest you will pay.

Does Navy Federal Credit Union Auto Loan charge an origination fee on auto refinance loans?

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

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.

Does Navy Federal Credit Union Auto Loan charge a late fee?

Yes, auto refinance loans via Navy Federal Credit Union Auto Loan are subject to late payment penalty fees.

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 feees can reduce or even cancel the interest savings of repaying a 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 are 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.

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.

Only U.S. citizens and permanent residents can apply for a loan.

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

  • Recent pay stubs
  • Proof of income
  • Driver's license
  • Proof of identity
  • Proof of citizenship or residence permit

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

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 can help improve your credit score.

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Availability

Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. 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
  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

No Origination Fee  
Credit Score Range 650 - 850
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
  • Military Dependent
  • Non-Military
  • Veterans
Minimum Age 18
Verification Documents Required
  • Proof of Identity
  • Proof of Income
  • Recent Pay Stubs
  • Social Security Number
  • U.S. Tax Identification Number
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
Approval Speed (Hours) 48
Credit Bureau Reporting
  • Equifax
  • Experian
  • TransUnion
Joint Loans Available  
Payment Options
  • Automatic Payments
  • Check by mail
APR (Fixed APR) 2.99% - 19%
Loan Term 12 - 96 months

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