12 Best Credit Unions for Car Loans

If you’re in the market for a car, consider a credit union auto loan for better rates and perks.

Overall, credit unions offer the best car loan rates, which can save you money now — and over time. Much like banks, auto loans decide to issue loans depending on your credit — which should be good — your employment history and your income.

Best Auto Loan Rates From Credit Unions

Here’s a roundup of some of the top credit union loans for cars — offering the lowest auto financing rates, terms and the overall best car loans to its members. Many credit union websites feature car loan interest rate calculators so you can see exactly how much you’ll be paying.

In addition, if you get a loan from a credit union you likely won’t be surprised by any hidden costs associated with auto loans. Use this chart to find the best credit union auto loan rates, including used car loan interest rates from local credit unions and federal credit unions.

12 Best Credit Unions for Car Loans
Credit UnionCar Loan APRLoan AmountLoan TermsNew/Used CarsWhere to Apply
PenFedPentagon Federal Credit Union1.49%Up to 110%; $500-$100,00036-84 monthsBothLearn More
nih logoNIH Federal Credit Union1.49%Up to 125% based on new auto loan to valueUp to 84 monthsBothLearn More
schoolsfirst logoSchoolsFirst Federal Credit Union1.84%Up to 100% of the MSRPUp to 84 monthsBothLearn More
suncoast credit union logoSuncoast Credit Union2.00%Up to 125% of the vehicle’s valueup to 72 monthsBothLearn More
State Employee CU logo 2017State Employees’ Credit Union2.24%Up to 100% of MSRP + additional 10% to cover other purchase-related expenses36-120 monthsBothLearn More
Navy FCU logo 2017Navy Federal Credit Union1.99%100% financing36-96 monthsBothLearn More
randolphbrooks.pngRandolph-Brooks Federal Credit Union2.15%125% financing including tax, title, license, and extended service contracts24-84 monthsBothLearn More
Alliant Credit UnionAlliant Credit Union2.24%Up to 120% depending on vehicleUp to 84 monthsBothLearn More
foothill credit logoFoothill Credit Union0.95%100% financingup to 84+ monthsBothLearn More
NASA Federal Credit UnionNASA Federal Credit Union2.49%Up to 130% financing for qualified applicantsUp to 84 monthsBothLearn More
EECU2.09%Up to 100% of the price including tax, title and license12-84 monthsBothLearn More
connexus credit unionConnexus Credit Union2.99%Up to 100%36-84 monthsBothLearn More
Rates accurate as of June 16, 2017

Pentagon Federal Credit Union

APR: 1.49% APR
Loan amount: Financing up to 110 percent; $500 to $100,000
Terms: 36 to 84 months

Serving members in all 50 states and the District of Columbia, as well as military bases in Guam, Puerto Rico and Okinawa, Pentagon Federal Credit Union offers its members substantial options for car financing. You can join if you’re a member of the U.S. military, an employee of the U.S. government or other qualifying organization, or if you belong to a group like the National Military Family Organization or Voices for America’s Troops.

In addition to its loans, the credit union also offers an online car-buying service tool. This tool allows members to search for new or used cars and get a variety of information such as its value compared with the asking price, as well an alert showing any PenFed discounts available.

Related: 20 Cheapskate Secrets to Buying a New Car

NIH Federal Credit Union

APR: 1.49% APR
Loan amount: Financing up to 125 percent, based on new auto loan-to-value ratio
Terms: Up to 48 months

The National Institutes of Health Federal Credit Union, serving the biomedical industry, provides its members with flexible terms and low rates for new, used and refinancing of auto loans. You can join the credit union if you’re a member of the healthcare or biomedical industry in Maryland, Washington D.C., North Carolina, Virginia or West Virginia — or if you’re a family member of someone enrolled. Perhaps one of the best NIHFCU loan features is its online application process, which takes just a few minutes to generate results.

SchoolsFirst Federal Credit Union

APR: 1.77% APR
Loan amount: Up to 100 percent of the MSRP
Terms: 36 to 60 months

SchoolsFirst Federal Credit union offers many financing options and deals for its members. The credit union is partnered with companies like Autoland and Enterprise to bring customers exclusive savings. It also offers discounts on Guaranteed Asset Protection insurance, options for no payment for 90 days, and contests that reward winners with a year free of car payments.

Along with all the different ways to save, SchoolsFirst also gives borrowers the choice of how to apply for a loan: online, on the phone or in person. Members include current and retired school employees and their families.

Read: New and Used Car Interest Rates Explained

Suncoast Credit Union

APR: 2.00% APR
Loan amount: Up to 125 percent of the vehicle’s value
Terms: Up to 72 months

This Florida credit union serves up a wide variety of vehicle-related products to help its member save money. You can join this organization if you live in one of the eligible Florida counties listed by the credit union, you’re an alumnus of Florida College or a family member of someone who does qualify.

Suncoast will preapprove you for a loan online so you know what your budget is when you walk into a dealership. In addition to financing and selling cars, Suncoast’s Member’s Roadside Advantage Assistance program covers up to five service events per year, including a dead battery or a flat tire.

State Employees’ Credit Union

APR: 2.24% APR
Loan amount: Up to 100 percent of MSRP plus an additional 10 percent to cover other expenses
Terms: Up to 36 months

The State Employees’ Credit Union has valuable auto financing products for members who are looking for new or used cars. SECU’s Auto Power Program essentially gives approved customers a blank check, up to a certain dollar amount, so that they can buy a car without ever stepping into a credit union.

Members include North Carolina state employees, federal employees who work in conjunction with the state, public boards of education employees, and those who serve the North Carolina National Guard. If members don’t get approved for a loan, SECU can help them outline a strategy to boost their credit scores, including budgeting and reporting any credit report errors.

Navy Federal Credit Union

APR: 1.99% APR
Loan amount: 100 percent financing
Terms: Up to 36 months

Navy Federal Credit Union offers excellent car loans for financing new cars. You can join if you are affiliated with the military, Department of Defense, Coast Guard or National Guard.

Borrowers can apply for a loan online and if they receive a preapproved loan, they can request a letter of guarantee to bring to the dealerships. Other benefits available to members are access to GAP — guaranteed auto protection — insurance and a payment protection plan.

Randolph-Brooks Federal Credit Union

APR: 2.15% APR
Loan amount: 125 percent financing including tax, title, license and extended service contracts
Terms: 1 to 66 months

Randolph-Brooks Federal Credit Union provides online help to members who are preparing for buying a used car or new car, giving them information on everything from how to negotiate — like using their preapproved loans as leverage — and buyer’s checks. A buyer’s check can be requested during the online application process.

Randolph-Brooks also offers payment protection plans and major mechanical protection, which is available for both new and used cars. Become a member if you’re affiliated with the military, live or worship in certain areas of Texas or are a family member of someone who qualifies.

Alliant Credit Union

APR: 1.99% APR
Loan amount: Generally 120 percent, but depends on vehicle
Terms: Up to 84 months

Alliant Credit Union offers both new and used auto loans with same-day approval and refinancing options. Plus, you can save on interest by paying off your loan early — and Alliant won’t charge any prepayment penalties. You can join if you are an employee or family member of a qualifying company, live or work in certain Chicago communities or donate to become a member of Foster Care to Success.

Alliant also has a car-buying service in partnership with True Car. The way it works is that buyers look for cars online through the Alliant Car Buying Service website. The advantage of this program is that a member gets to see how much money others paid for the new car he wants. You can also get used car market values via ClearBook.

Foothill Credit Union

APR: 0.95% APR
Loan amount: 100 percent financing
Terms: Up to 60 months

Members of Foothill Credit are eligible to get its competitive rates on new and used car loans the credit union offers the lowest auto loan rate on this list. Members who opt for auto payment will receive a 0.25% APR discount. School and hospital employees will also receive a 0.25% APR discount.

Foothill Credit Union members also get the convenience of applying online and receiving preapproval within minutes. Members can also apply by phone, and funds are usually available the same day. You can join if you are an employee or family member of a qualifying organization or a member of certain clubs or associations.

NASA Federal Credit Union

APR: 2.49% APR
Loan amount: Up to 130 percent financing for qualified applicants
Terms: Up to 36 months

NASA Federal Credit Union offers flexible terms and low rates for new and used car financing as well as for auto loan refinancing. Members include current and retired employees of NASA Headquarters, any NASA Center or Facility or NAS, plus employees or members — and their families — of one of NFCU’s partner companies or associations.

Members can apply online and get preapproved quickly. By having financing already in place, members have the advantage at the car dealership because they can focus on negotiating the car price instead of the loan terms. NASA Federal also has a credit protection product available to its members.

Read: 10 Best Credit Unions Anyone Can Join

EECU Credit Union

APR: 2.09% APR
Loan amount: Up to 100 percent
Terms: Up to 84 months

EECU offers competitive rates with great terms, and you can get preapproved before you visit a dealership so you can negotiate the best deal. If you have a used car loan, consider refinancing it with EECU for a better rate and lower monthly payment. You are eligible for membership if you live or work in certain Texas counties; work for any educational institution, business, association, hospital or municipality in the Fort Worth, Texas area; are related to someone who is a member; or offered membership from one of EECU’s select employer groups.

Connexus Credit Union

APR: 2.99% APR
Loan amount: Up to 100 percent
Terms: Up to 84 months

Connexus Credit Union’s auto loan rates have never been lower, according to the website. You can see how much you’d save on a loan for your car, truck, ATV or motorcycle with the organization’s free auto loan comparison. If you want to become a member you’ll have to be a current, former or retired employee of an employer group; a resident of certain communities, a family member or housemate of an existing member; or a student, employee or alumni of Northcentral Technical College in Wisconsin.

Next Up: How to Merge Your Two Car Loans Into One

Ruth Sarreal contributed to the reporting for this article.

Methodology: Credit unions were ranked in order of lowest auto loan APR available to highest. APRs are current as of June 16, 2017. Rates are subject to change at the lenders’ discretion.

GOBankingRates is a personal finance and consumer interest rate website owned by ConsumerTrack, Inc., an online marketing company serving top-tier banks, credit unions, and other financial services organizations. Some companies mentioned in this article might be clients of ConsumerTrack, Inc., which serves more than 100 national, local and online financial institutions. Rankings and roundups are completely objective, and no institution, client or otherwise, paid for inclusion or specific placement. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone and have not been reviewed, approved, or otherwise endorsed by the companies included in the article.