Navy Federal Credit Union auto loans review |

Navy Federal Credit Union auto loans review

We value our editorial independence, basing our comparison results, content and reviews on objective analysis without bias. But we may receive compensation when you click links on our site. Learn more about how we make money from our partners.

Navy Federal Credit Union Auto Loans

Take to the road with an auto loan from a lender that’s dedicated to serving military members and their families.

When you’re ready to buy a new car — even if it’s just new to you — the expensive reality can put a damper on your excitement. Established in 1933, Navy Federal Credit Union serves US service members by offering auto loans at competitive rates. But with a history of bad collection tactics, it pays to keep a close eye on your loan if you choose to borrow.
Product NameNavy Federal Credit Union Auto Loans
APR2.99% (As low as)
Interest Rate TypeFixed
RequirementsBe credit union member, US citizen or permanent resident, have age of majority.

First, do I qualify?

To be eligible for a Navy Federal auto loan, you’ll first need to be eligible for a Navy Federal Credit Union account.

Loan applicants must also be at least 18 years old and a permanent resident or citizen of the US.

What types of car loans does Navy Federal Credit Union offer?

Navy Federal Credit Union offers a variety of auto loans to suit every need, including leisure time.

  • New car loans. Terms up to 96 months.
  • Late-model used car loans. Terms up to 72 months.
  • Used car loans.Terms up to 72 months.
  • Auto loan refinancing. Refinancing terms and rates reflect those of new and used car loans.
  • Motorcycle, boat and leisure vehicle loans. Boats have terms up to 180 months. New motorcycle loans have slightly shorter terms of up to 84 months, while used motorcycles have terms of up to 72 months.
Navy Federal 2018 definitions for new, late-model used and used cars.

  • New cars are models from 2017 and less than 7,499 miles.
  • Late-model used cars are models from 2017 with 7,500 to 30,000 miles.
  • Used cars are models from 2016 and earlier, or any car with over 30,000 miles.

What are the benefits of Navy Federal Credit Union auto loans?

  • Discounts for active duty and retired military members. If you sign up for the Navy Federal Direct Deposit program, active-duty and retired military members will receive a 0.25% APR discount on their new car, motorcycle or boat loan.
  • Customer support, day and night. A member-services phone line is open 24 hours a day, 7 days a week. You’ll also have access to your account online at any time.
  • Coapplicants welcome. Navy Federal allows joint ownership of a loan, which can be important when it comes to big assets — especially if you’re married.
  • Preapproval. If you’re still shopping for a car, you may be able to qualify for preapproval to give yourself a negotiating tool.

What to watch out for

  • Limited availability. Though it’s expanded its membership criteria, it’s still fairly narrow compared to other lenders. And even if you do qualify for membership, you may not meet the underwriting requirements to take out a loan.
  • Poorly rated customer service. The general sentiment around the customer support provided is rather poor despite the 24-hour availability.
  • Past debt collection issues. In 2016, the Consumer Financial Protection Bureau (CFPB) ordered Navy Federal to pay over $28 million in settlements to members and penalties for “improper debt collection actions.”

Compare more car loan offers

Updated May 21st, 2019
Name Product Filter Values Minimum Credit Score Loan Term Requirements
Varies by lender
Must be a US citizen with a current US address and employed full-time or have guaranteed fixed income.
Apply with a simple online application to get paired with a local auto lender. No credit and bad credit accepted.
1 to 7 years
Find an offer and get rates from competing lenders without affecting your credit score.
Varies by lender
Must be employed full-time or have guaranteed fixed income of at least $1,500/month and be a current resident of the US or Canada.
Get connected with an auto lender near you, even if you have bad credit.
Good to excellent credit
2 to 7 years
Good or excellent credit, enough income or assets to afford a new loan, US citizen or permanent resident, 18+ years old
Quick car loans from $5,000 to $100,000 with competitive rates for borrowers with strong credit.
Fair or better credit
From 2 years
Car must be less than 10 years old with fewer than 120,000 miles. Current loan must have a balance between $5,000 and $55,000 and at least 24 months left in its term.
Lower your monthly car payments and save on interest through a fast and easy online application process.
Income of $2,000+/month, vehicle has less than 150,000 miles and is no older than 8 years, loan balance is between $10,000 and $100,000, debt-to-income ratio is less than 50%
Connect with a network of over 150 lenders to refinance your car loan.
Good to excellent credit
Varies by lender
18+ years old, good to excellent credit, US citizen
Compare multiple financing options for auto refinance, new car purchase, used car purchase and lease buy out.

Compare up to 4 providers

How do I apply?

If you’re not already a member of Navy Federal Credit Union, you’ll need to apply for membership. In order to qualify, you’ll need to be a past or present service member or DoD employee, or a family or household member of one.

For a motorcycle, boat or leisure vehicle loan, you’ll need to call Navy Federal or visit a branch. Yo can also apply for auto loans online by following these steps:

  1. Visit the Navy Federal Credit Union website.
  2. Hover your cursor over Loans & Credit Cards.
  3. Select Auto Loans.
  4. Select Apply Now.
  5. Sign into your online account.
  6. Complete the required information.

You may need to submit additional documentation. Turnaround times will vary based on several factors, including whether you’re fully applying or just seeking preapproval.

What documents do I need to apply?

To apply for an auto loan when you’ve already selected a car, you’ll need the following:

  • Vehicle Identification Number (VIN) of the vehicle
  • Vehicle’s exact mileage
  • State where you’ll register the vehicle
  • Dealer or seller’s name
  • Trade-in information, if applicable
  • Full amount that you’re financing
  • Term of the loan

If you’re applying with a co-applicant, you’ll also need to provide:

  • Your coapplicant’s name, phone number and email
  • Your coapplicant’s housing, employment and income information
Double check the full price.
Remember to include taxes, tags, title, warranty and any other relevant applicable fees when calculating the cost of your purchase.

I got the Navy Federal Credit Union auto loan. Now what?

You’re ready to hit the road, but it may be best to first set up payments to keep you rolling. Payments can be made through the Navy Federal app or online using the website. You can also set up automatic payments via ACH.

Fees vary, so make sure you look over your loan document to find out just how much you might get stuck with for late or returned payments. Should you have a question about your loan, a bill or anything else related to Navy Federal, you can contact customer service by live chat, email, phone or in person. You’ll also find Navy Federal on Facebook, Twitter, Instagram and YouTube if you want to get social.

Bottom line

Low starting rates, potential discounts and long terms can be appealing for those who qualify, although not all members will qualify for the best rates — if any. Those looking for outstanding customer service may also have a hard time finding it with Navy Federal. Take your time and compare your options with our guide to car loans before you settle on any one provider.

Interested in other loans offered by Navy Federal? Members can apply for a host of different loans, including several types of auto loans, and may qualify for special discounts.

Frequently asked questions

Was this content helpful to you? No  Yes

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.

2 Responses

  1. Default Gravatar
    BrittneyDecember 4, 2018

    What is the minimum credit score you can have and still get approved for a car loan ?

    • Avatarfinder Customer Care
      AnndyDecember 10, 2018Staff

      Hi Brittney,

      Thanks for your question.

      If you are referring to the Navy Federal Credit Union auto loans, they may consider borrowers with a credit score of 300. However, your application will be subject to other eligibility criteria and if approved, your interest rate will depend on your corresponding credit score range.

      Alternatively, there are other lenders that also offer car loans to those with low credit score rating. You may check and compare them on this page.

      I hope this helps.


Go to site