Auto Loans

What are the current rates for new and used auto loans?

Our advertised rates are subject to change at any time and depend on factors that include the applicant’s credit, the amount financed, loan term and vehicle characteristics. However, we offer competitive rates and flexible terms. Your actual Annual Percentage Rate (APR) will be based on your specific situation. Check out our auto loan options.

Do you have different rates for buying a new car vs. buying a used car?

Yes, our rates are different for new- or used-car purchases. View our rates here.

What will my monthly payment be?

Your monthly payment will be determined by several factors, including your loan amount, term and interest rate. You can estimate what your monthly payment could be with our Auto Loan Calculator.

Do I need to be a Navy Federal member to apply for an auto loan?

Yes, you need to become a member before you can apply for an auto loan. Learn more about joining Navy Federal. 

Can I get approved for an auto loan before I pick out my car?

Yes. That's called a preapproval, and it allows you to know exactly how much car you're preapproved for before you shop. Remember—while you negotiate the best price with a dealer, don’t reveal to them the maximum amount of financing you're preapproved for.

How long is my preapproval auto loan check good for?

Your auto loan preapproval is good for 90 calendar days from the date of the check.

How do I apply for an auto loan?

After signing in to your account via the mobile app^{Footnote 6} or online banking, you can apply for your auto loan in just a few minutes. There's no fee to apply, and most decisions are instant. In cases where applications require more attention, we'll send you an email and/or a text.

If approved for an auto loan, we’ll mail you a check or you could pick it up at your nearest branch. Once you pay the seller, ensure the title is received by Navy Federal within 90 days of purchase. You can also apply over the phone at 1-888-842-6328 or at a branch.

How long does it take to fill out the form to apply for an auto loan from Navy Federal? 

It typically takes less than 10 minutes to complete an application.

What type of information do you collect when I apply for an auto loan?

When applying for an auto loan, you'll need to provide the following details for yourself and any co-applicant:

• Contact information (phone number and email)
• Current housing, employment and income information
• Any vehicle trade-in information (title or loan information, registration, etc.)
• Amount expected to finance (including vehicle purchase price, taxes, tags, title and warranty, minus any down payment)
• Length (term) of the desired loan

And, if you’ve already picked out the vehicle you wish to buy, you’ll also need:

• the 17-character vehicle identification number (VIN)
• the state where you’ll register the vehicle
• the exact mileage reading
• the dealer or seller's name

For refinance loans, you'll need to give us specific vehicle information such as the VIN, exact mileage, lender contact information and payoff amount.

If I'm at the dealership and have picked out my new car, can I get auto financing quickly through Navy Federal? 

Yes, you can easily apply for an auto loan right from your phone via our mobile app.^{Footnote 6} In most cases, you'll receive a decision in seconds. Once you're approved,  stop by our nearest branch to pick up your check.

How soon will I receive a decision after I submit my loan application?

Within seconds, in most cases! If you provided your email address during the application process, we'll send you a follow-up email with more details.

Once my loan is approved, how do I get my check?

You can receive your check the following ways:

• By mail sent to the address you provided (there may be a fee depending on delivery type)
• By picking it up at a branch

Note: If the co-applicant's address is different from the primary applicant's address, the loan check and promissory note—or loan contract—are sent to the co-applicant first.

Can I refinance my existing auto loan through Navy Federal?

Yes, you can apply to refinance your existing auto loan if the loan is currently with another lender. Credit and collateral are subject to approval.

What are the current rates for auto refinancing loans?

View our loan rates here.

Does Navy Federal charge an application fee?

No. Navy Federal doesn't charge an auto loan application fee.