AUTO LOANS

Low Rates

RATES AS LOW AS

1.99

%
APR*

Same Day Decision

Quick + Easy Application

NEW - USED - REFINANCE

Personalized Service

ELIGIBLE VEHICLES

Model Years | 2012-2022

MSRP | Up to 120%

You can borrow 120% of the value of your car. This allows you to finance the entire purchase price plus the sales tax.

Types | Consumer Use

  • Automobiles
  • SUVs
  • Pickup Trucks
  • Minivans 

How much is my vehicle worth? >
(external link to NADA Guides)

Maximum Loan | $100,000

FEATURES

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Affordable

Flexible

Rates as low as 1.99% APR for new, used or refinanced vehicles

With terms up to 84 months, find the product that fits your needs

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Fast application process

Applying takes less than 10 minutes. In most cases, you will have a decision the same day you apply

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Comprehensive

Finance the FULL purchase price of your vehicle – including sales tax

Not ready to apply?

Contact us

AUTO LOAN RATES

MODEL YEAR

TERM

APR*

MONTHLY PAYMENT PER $1,000

2021-2022

Up to 63 Months

1.99%

$17.00

Up to 66 Months

1.99%

$16.00

Up to 75 Months

2.99%

$15.00

Up to 84 Months

3.74%

$14.00

2019-2020

Up to 63 Months

1.99%

$17.00

Up to 66 Months

1.99%

$16.00

Up to 75 Months

2.99%

$15.00

2017-2018

Up to 63 Months

2.74%

$17.00

Up to 66 Months

2.99%

$16.00

Up to 72 Months

3.99%

$16.00

2015-2016

Up to 60 Months

3.84%

$19.00

Up to 66 Months

3.99%

$17.00

2012-2014

Up to 60 Months

5.04%

$19.00

*The rate listed is the Annual Percentage Rate (APR). The APR is effective as of 4/20/21 and subject to change. Maximum loan amount is $100,000.00. Maximum loan-to-value is 120% of the MSRP (new autos) or NADA Value (used autos). Other terms and conditions may apply. Rates vary based on term, credit score and model year. Subject to credit approval.


**Minimum $25,000 for loans greater than 75 months. Please contact us for details.

AUTO LOAN CALCULATOR

CONTACT

Questions?

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Questions about applying?
Send us a message

MEMBER SERVICES

781.455.6500

HOURS

Monday—Friday

8:00am-5:00pm


Saturday

8:00am-1:00pm

Already applied?

LEARN

Have you just started the car-buying process? Contact us if you'd like us to walk you through the process. If you want to know how much car you can afford and what your monthly payments will be, use our loan calculators above. Whether you're purchasing through a dealership or a private seller, we are ready to help with your auto loan! Keep in mind the additional costs associated with owning a vehicle such as insurance, registration and maintenance.

HAVE AN AUTO LOAN WITH A DIFFERENT LENDER?

Refinance your existing car loan with a Direct Federal auto loan and lower your monthly payments right away with our leading low interest rate. You can even refinance your car loan up to the full value of the car and get cash back to be used however you wish. If your original loan has a high interest rate, you could transform your car payments with Direct.


Example:


Car value: $16,700


Current Auto Loan from another lender: $10,000


You would pay off your current auto loan and receive $6,700 back in cash to spend however you wish. Click here to get started today. The application will take less than 10 minutes.

 


FIRST-TIME AUTO BUYER LOAN SMARTSTART PROGRAM

Buying a car is long considered the first start of adulthood but yet many young-adults struggle to buy their first car since they may not have had an opportunity yet to establish the credit required from lenders. Our First-Time Auto Buyer loan allows first-time auto buyers, who are at least 21 years of age and have a zero credit score, to purchase their first vehicle and start establishing credit. ADULT LIKE YOU MEAN IT. Apply today and buy your first car tomorrow!

FAQ

WHAT IS CONSIDERED A "NEW AUTO" VERSUS A "USED AUTO"?

At Direct Federal, the most recent two model years are considered "new." Model years earlier than the most recent two are considered "used." We add a new model year each year on June 1st. 

2021-2022 | New 

2012-2020 | Used 


HOW MUCH CAN I BORROW?
You can borrow 120% of the value of your car (subject to our maximum auto loan limit of $100,000). This allows you to finance the entire purchase price plus the sales tax.

NADA Pricing Guide >

HOW LONG DO I HAVE TO USE MY DIRECT FEDERAL AUTO LOAN?

You have 60 days. If, for whatever reason, you do not use the loan during that time period and need another one, simply call us at 781.455.6500.

WHAT HAPPENS IF INTEREST RATES CHANGE BETWEEN THE TIME I APPLY AND THE TIME I PURCHASE A VEHICLE?

If rates rise from the time you apply until the time you use your loan, you will get the lower rate that was in effect when you applied. If rates fall from the time you apply until the time you use your loan, you will get the lower rate in effect at the time of purchase.


WHAT IF I NEED MORE MONEY?

If you realize you need more money to finance your purchase once you start shopping for your car, simply call us at 781.455.6500. 


WHAT TYPES OF VEHICLES CAN I FINANCE?

You may finance automobiles, SUVs, pickup trucks, and minivans for consumer use. You may not use your Direct Federal AutoCheck to finance boats, motorcycles, RVs or campers, or any vehicles for commercial use.


WHEN IS MY FIRST PAYMENT DUE?

Your first payment is due on the 30th of the month following the month you use your auto loan. For example, if you use your loan during September, your first payment will be due on October 30.


LIEN HOLDER INFORMATION
Direct Federal Credit Union
50 Cabot St. Needham, MA 02494
MA Lienholder Code: C01769

Equal Opportunity Lender. 

© 2021 DIRECT FEDERAL CREDIT UNION