AUTO LOANS

2.99

%
APR**

NEW - USED - REFINANCE

Low Rates

Quick + Easy Application

Same Day Decision

Personalized Service

RATES AS LOW AS

FEATURES

Not ready to apply?

Contact us

Affordable

Rates as low as 2.99% APR for new, used or refinanced vehicles

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

Fast application process

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Flexible

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

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

Comprehensive

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AUTO LOAN RATES

MODEL YEAR

APR*

TERM

MONTHLY PAYMENT PER $1,000

*The rate listed is the Annual Percentage Rate (APR). The APR is effective as of 2/15/20 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.

2019-2020

2.99%

$17.17

Up to 63 Months

2.99%

$16.45

Up to 66 Months

3.99%

$15.09

Up to 75 Months

4.99%

$14.13

Up to 84 Months

2017-2018

2.99%

$17.17

Up to 63 Months

2.99%

$16.45

Up to 66 Months

3.99%

$15.09

Up to 75 Months

2015-2016

3.54%

$18.21

Up to 63 Months

3.99%

$16.90

Up to 66 Months

4.34%

$15.80

Up to 72 Months

2013-2014

3.84%

$18.34

Up to 60 Months

3.99%

$16.90

Up to 66 Months

2011-2012

5.04%

$18.89

Up to 60 Months

AUTO LOAN CALCULATOR

CONTACT

Questions?

HOURS

Monday—Friday

8:00am-5:00pm


Saturday

8:00am-1:00pm

MEMBER SERVICES

781.455.6500

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

HOW DO I USE MY DIRECT FEDERAL AUTOCHECK?
Use your Direct Federal AutoCheck like any other check. Make it payable to the party you’re buying your car from, and enter the appropriate amount. Endorse the back of the AutoCheck and ask the seller to do the same. Make sure the required information is filled in on the back. (Note: you cannot pay off a Direct Federal auto loan with an AutoCheck.)



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. For example, beginning June 1, 2015, the most recent two model years are 2016 and 2015, both of which would be "new." Model years 2014 and earlier are "used." You can finance "used" vehicles as old as 2007.


HOW MUCH CAN I BORROW?
You can borrow 106.25% 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.

HOW LONG DO I HAVE TO USE MY DIRECT FEDERAL AUTOCHECK?

You have 60 days to use your AutoCheck. If, for whatever reason, you do not use the AutoCheck 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 USE MY AUTOCHECK?

If rates rise from the time you apply until the time you use your Direct Federal AutoCheck, 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 AutoCheck, you will get the rate in effect at the time you use

your check.


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. We’ll review your request and if approved, send a new Direct Federal AutoCheck to you that day.


WHAT TYPES OF VEHICLES CAN I FINANCE WITH MY DIRECT FEDERAL AUTOCHECK?

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 AutoCheck. For example, if you use your Direct Federal AutoCheck during September, your first payment will be due on October 30.

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© 2020 DIRECT FEDERAL CREDIT UNION

Equal Opportunity Lender. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency.