But it does have two categories for used cars: NFCU doesn’t list any specific requirements for new cars. Immediate family members or household members also qualify for NFCU membership. DoD contractor assigned to a US government installation.US government employee assigned to a DoD installation.Department of Defense (DoD) officer candidate or ROTC member.Participant in the Delayed Entry Program (DEP).To become a member of NFCU, you will need to fall into one of these categories: Navy Federal offers exclusive membership to the military While there are no specific eligibility criteria for a Navy Federal car loan, you will likely need to meet these minimums to qualify for the best rates: You must be a member of Navy Federal Credit Union to apply for one of its auto loans - although those eligible for membership may also be able to apply. Provided your vehicle falls within NFCU’s requirements - and you meet its eligibility criteria - you may be able to refinance your vehicle for up to 96 months. Navy Federal auto refinance has the same low starting rates as its new and used vehicle loans. Late model used vehicle loans Starting APR
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Plus its used cars come with a free Carfax report. It also has a 90-day preapproval period - most lenders only offer preapproval up to 30 days. Navy Federal allows you to finance new and used vehicles up to $100,000. But it isn’t up front about the fees you might have to pay. See my options Navy Federal auto loan rates, fees and termsĮxpect competitive interest rates and long terms from NFCU. If you’re looking for lenders that work with the military, both PenFed and USAA are top alternatives to Navy Federal. Navy Federal, PenFed and USAA all have annual percentage rates (APRs) starting under 3% for borrowers with good to excellent credit.
How an NFCU auto loan compares to PenFed and USAA While you should always consider customer reviews carefully, NFCU’s spotty history means you may be better off working with a lender that has a proven track record of good customer service.
For its negative reviews, understand that Navy Federal has faced government action in the past for misleading customers and closing accounts. However, negative reviews cite frequent mistakes and problems that aren’t fixed after multiple attempts to work with NFCU.īecause its positive reviews are typically vague, take them with a grain of salt. There are plenty of 4- and 5-star reviews praising NFCU for decent customer service and products. And unfortunately, its negative reviews are much more detailed than its positive ones. Navy Federal auto loan reviews and complaints BBB accreditedġ.2 out of 5 stars, based on 132 customer reviewsĤ.7 out of 5 stars, based on 5,317 customer reviewsĤ.8 out of 5 stars, based on 105,220 customer reviewsģ.9 out of 5 stars, based on 73,660 customer reviews
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