Sign up & start saving!
Get our weekly newsletter for the latest in money news, credit card offers + more ways to save
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
USAA auto loans review
Last updated:
No-fee financing with longer-than-average loan terms available.
finder.com’s rating: 3.7 / 5.0
★★★★★
Bottom line: Members of the military and their families might qualify for highly competitive rates and a longer-than usual prequalification offer with this lender. But long terms and deferment options can cost you extra in interest.
$5,000
Min. Loan Amount
$3,000,000
Max. Loan Amount
As low as 2.89%
APR
Details
| Product Name | USAA Auto Loans |
|---|---|
| Min. Loan Amount | $5,000 |
| Max. Loan Amount | $3,000,000 |
| APR | As low as 2.89% |
| Interest Rate Type | Fixed |
| Requirements | USAA member, US citizen or permanent resident, ages 18+ |
Pros
- Prequalification offer lasts 45 days
- Hold off on repayments for 60 days
- Special offers for vehicles to accommodate people with disabilities
Cons
- Only available to military families
- Interest capitalizes if you delay first repayment
- Poor customer reviews
USAA auto loan reviews and complaints
| BBB accredited | No |
|---|---|
| BBB rating | A- |
| BBB customer reviews | 1.3 out of 5 stars, based on 546 customer reviews |
| BBB customer complaints | 1,421 customer complaints |
| Trustpilot Score | 1.4 out of 5 stars, based on 554 customer reviews |
| App Store Score | 4.8 out of 5 stars, based on 1,123,286 customer reviews |
| Google Play Score | 4.6 out of 5 stars, based on 160,970 customer reviews |
| Customer reviews verified as of | 14 November 2020 |
USAA gets mostly negative online reviews. It also lost half a letter grade from the Better Business Bureau (BBB) after facing multiple government actions from regulators for failing to honor stop payment requests from customers, resolve these errors related to payment requests, wrongfully repossessing vehicles and failing to have an effective risk-management program to protect customer data.
How USAA compares to other lenders
Here’s how USAA stacks up to other car loans from other providers.
★★★★★
| Find out more |
|---|
|
Credit score Varies |
|
Interest rate (APR) As low as 2.89% |
|
Loan amount $5,000 - $3,000,000 |
★★★★★
| Check my rate |
|---|
|
Credit score No minimum credit score |
|
Interest rate (APR) 3.9% - 27.9% |
|
Loan amount Varies |
★★★★★
| Check my rate |
|---|
|
Credit score 550 - 850 |
|
Interest rate (APR) 1.79% - 27% |
|
Loan amount $8,000 - $100,000 |
Compare more auto lenders
USAA auto loan rates, fees and terms
USAA car loans come with interest rates starting at 2.89% APR for new cars and refinancing and 3.29% for used cars. This includes a 0.25% discount for signing up for autopay. There are no application or prepayment fees and terms run from 12 to 84 months.
Other factors can affect the cost of your car loan. Private party purchases tend to come with higher rates, as do longer loan terms. Use our calculator to see how much a USAA auto loan might cost you.
USAA auto loan requirements
To qualify for an auto loan with USAA, you must meet the following requirements:
- At least 18 years old
- US citizen or permanent resident
- USAA member
To become a USAA member, you must either be a member of the military or a military family. USAA considers factors like your credit score and income when you apply, though it doesn’t advertise a minimum credit score requirement.
How the application works
The easiest way to apply is online — you can even do it on your phone while you’re at the dealership. Once you have an offer, you have 45 days to shop around at dealerships before you sign off on the loan.
Once you sign your loan documents, you have the option to defer repayments for 60 days. Consider signing up for autopay to qualify for a 0.25% rate discount. And you can make extra repayments to save on interest, since there are no prepayment penalties.
What sets it apart
USAA auto loans come with highly favorable rates and a wider-than-average range of loan terms. And it allows borrowers to stay prequalified for as long as 45 days — 15 days longer than what most lenders will allow. On top of this, you can defer your repayments for as long as 60 days after taking out the loan, though that will increase your monthly and total loan cost.
USAA also has a special program for financing vehicles that accommodate special needs. Interested borrowers should call USAA for details on how this program works.
Compare other car loan options if you’re not eligible for a USAA membership — or want a better deal.
Frequently asked questions
Get answers to common questions about USAA auto loans.
Does USAA still have a car buying service?
No, USAA discontinued its car buying service, TrueCar on September 30, 2020. While it was running, USAA members could get a 0.5% discount on financing for a car through this service.
Are USAA auto loans available to non–military families?
No. But anybody can join USAA to get financial advice on investments, life insurance and discounts on shopping.
How do I pay off my USAA auto loan?
You can pay off your auto loan by logging in to your account and entering your bank account information. The easiest way to pay it off is to sign up for autopay, which also qualifies you for a 0.25% discount on interest.
Compare more car loans
Use the table to compare more car loans that might be available to you.
{"niche":"USFCL"}
Car loan ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We rate car loan providers on a scale of 1 to 5 stars based on factors like transparency, costs and customer experience. We don’t take into account elements like eligibility criteria, state availability or payment frequency — we save that for our reviews.
Read the full methodology of how we rate car loan providers to get a better picture of what goes into each star rating.