After signing in to your account via online banking or the mobile app, 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.
If you’re not a member, you can apply for an auto loan, but you’ll need to become a member in order to complete your loan. Learn more about joining Navy Federal.
When applying for an auto loan, you'll need to provide the following details for yourself and any co-applicant:
And, if you’ve already picked out the vehicle you wish to buy, you’ll also need:
For refinance loans, you'll need to give us specific vehicle information such as the VIN, exact mileage, lender contact information and payoff amount.
No, but depending on your situation, a co-applicant may help you meet the requirements for credit and the ability to repay.
We don’t require a set credit score to qualify for an auto loan with us. We take many factors into consideration.
No, a down payment isn't required. In some cases, however, it may improve the loan-to-value ratio, which could help with the approval process.
It typically takes less than 10 minutes to complete an application.
Yes, but a co-applicant may be required depending on the loan amount.
The vehicle identification number (VIN) is a 17-character string of numbers and letters assigned to the vehicle by the manufacturer. It identifies the year, make, model and other specifications of the vehicle.
No. Navy Federal doesn't charge an auto loan application fee.
Your auto loan preapproval is good for 90 calendar days from the date of the check.
Within minutes, in most cases! If you provided your email address during the application process, we'll send you a follow-up email with more details.
Yes. That's called a preapproval, and it allows you to know exactly how much car you are 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 pre-approved for.
Yes, you can easily apply for an auto loan right from your phone via our mobile app. Footnote 1 In most cases, you'll receive a decision seconds. Once you're approved, stop by our nearest branch to pick up your check.
Our preapproved auto loan may not be accepted at some overseas dealerships. To verify, contact the dealership directly. If the dealer will accept a Navy Federal preapproved auto loan, you can proceed with applying. If not, please follow the steps below on how best to apply for an auto loan instead.
You can receive your check the following ways:
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.
Any dealer you choose should accept financing from Navy Federal. If you want to shop online for your next car, you can use the Navy Federal Car Buying Service, Powered by TrueCar.
You can find our auto calculators here.
Yes. Email notifications are sent with directions on how to electronically sign your Promissory Note.
If you’re unable to electronically sign your Promissory Note by the specified date, we’ll automatically mail paper loan documents to your address on record.
Once you receive your Promissory Note, please sign it (and initial if Guaranteed Asset Protection was selected) and return it to us in one of the following ways:
Our advertised rates offered are subject to change at any time and depend on the applicant’s credit, in addition to 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.
Yes, our rates are different for new- or used-car purchases. View our rates here.
Your auto loan rate is based on your:
Shopping around for an auto loan generally has little to no impact on your credit score if you complete the rate shopping and get a loan within 45 days. For more information about the effect of shopping around for auto loans, visit the Consumer Financial Protection Bureau website.
Your monthly payment will be determined by several factors, including your loan amount, term and interest rate. You can estimate your monthly payment with our Car Payment Calculator.
No, you can't finance a motorcycle with a Navy Federal auto loan. But we do offer motorcycle loans for new and used motorcycles, which have different interest rates and application processes from our auto loans.
No, you can't finance a commercial or business vehicle with a Navy Federal auto loan. But we do offer business and commercial vehicle loans to help keep your business moving.
This step is important! Take care to make sure the dealership you're buying from is aware that they need to validate your preapproval check with us before they can deposit it for payment. It's simple—they just need to call us at 1-866-348-8946 and we'll provide them with a 4-digit validation code to include on the back of the check.
They'll also need to ensure the check is completed, accurate and legible. The front of the check should have the:
The back of the check must have the:
For more information, please see our Dealer Instructions.
No. Getting approved for an auto loan with Navy Federal does not obligate you to use the funds.
Your first payment will be due between 30 and 60 days from when the loan is finalized. You’ll find your first due date on your Promissory Note—or loan contract.
Sign in to your account and select Transfers. You can schedule transfers from your checking or savings accounts, or even an external account.
You can set up an external account through our mobile app or online banking.
From the Mobile App:
You can access your monthly Consumer Loan Statements anytime by signing in to your account. Statements are available for up to 36 months and appear in PDF format, making it easy for you to print or save. You can also update your statement delivery preference so that you no longer receive paper statements. And, if you’ve signed up for automatic or recurring payments, you won't receive paper statements. You may reinstate paper statements at any time.
Your loan statement provides timely details about your account. You can get information about how much you owe and what you've already paid. Find out more to better understand your loan statement.
No. loan payment due dates cannot be modified.
For account specific inquiries, you can:
Yes, you can apply to refiance your existing auto loan if the loan is currently with another lender. Credit and collateral are subject to approval.
Each time a payment is received, we first satisfy the interest that has accrued since the date of the last payment and then apply the remainder of the funds to the principal balance. Therefore, if you pay more than the minimum amount due, the funds reduce the loan balance and are applied as a partial payment toward the next regular payment.
The amount of money you could save depends on many different factors. Use our Auto Refinance Calculator to see how much you could save.
The timing for an auto loan refinance depends on different factors. You may want to refinance if:
There's no set amount of time you need to wait before you refinance your auto loan from another lender with us.
No, we don't charge any fees.
Refinancing your auto loan will lower your credit score temporarily.
Your monthly payment will be determined by several factors, including your loan amount, term and interest rate. You can estimate your monthly payment with our Car Refinancing Calculator.
If you refinanced from another financial institution, verify with them that the title was mailed to Navy Federal Credit Union, P.O. Box 25109, Lehigh Valley, PA 18002-5109. Please note that within 3 months of refinancing your car, a Certificate of Title or other proof of ownership indicating Navy Federal Credit Union as the first lienholder must be submitted to Navy Federal. If the lien-recorded title isn’t received within that time frame, your loan’s APR may be converted to Navy Federal’s rate for signature/personal loans, which is typically higher and can increase the monthly payment.
Once Navy Federal receives the title, we'll mail to your address on file any paperwork required for the lien-recorded title application. Navy Federal will debit the DMV titling fees from your savings account upon receipt of the completed and signed paperwork and submit to the DMV on your behalf.
Yes, if the auto loan is currently with another lender. Credit and collateral are subject to approval.
You can refinance your car loan in 4 steps. Learn more about how to refinance your auto loan.
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.