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  Navy Federal Credit Union Auto Refinance

Navy Federal Credit Union Auto Refinance

in Auto Loan Refinancing from Navy Federal Credit Union

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Navy Federal Credit Union Auto Refinance

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in Auto Loan Refinancing from Navy Federal Credit Union

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Highlights
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 Refinance Review

Navy Federal auto refinance 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 auto refinance?

Navy Federal auto refinance offers a fixed APR car 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 auto refinance?

Navy Federal auto refinance 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 auto refinance charge an origination fee on auto refinance loans?

No, Navy Federal auto refinance does not charge a loan origination fee for refinancing a car 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 auto refinance charge a late fee?

Yes, auto refinance loans via Navy Federal auto refinance are subject to late payment penalty fees of up to $29.

Does Navy Federal auto refinance charge prepayment fees?

Yes, Navy Federal auto refinance 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 Refinance?

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

Navy Federal Credit Union Auto Refinance does not have or does not disclose a minimum annual income eligibility requirement. Navy Federal Credit Union Auto Refinance 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 Refinance. 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 Refinance. 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 refinance with Navy Federal auto refinance?

Auto refinance loan applications are typically approved (or denied) within 48 hours and funded within 1 to 7 days of approval.

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

Yes, Navy Federal Credit Union Auto Refinance 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 Refinance 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 Refinance

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
Credit Score Range 650 - 850
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
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

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