Facebook Auto Loan Rates | New | Used | Refinance | Calculator | Massachusetts

 

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OVERVIEW

Interested in buying a car?

Personalized service. Same-day decisions. No speed bumps or surprises. All at the lowest rates around. With Direct Federal, applying for an auto loan almost feels like a joyride. Here are just some of the benefits:

  • Affordable.
    Rates as low as 2.99% APR for new, used or refinanced vehicles.
     
  • Flexible.
    With terms up to 84 months, find the product that fits your needs.
     
  • Easy to apply.  
    Whether you apply online, by phone or in person, your application will take less than 10 minutes to complete.
     
  • Quick decision making.
    In most cases, you will have a decision the same day you apply.
     
  • Comprehensive.
    Finance the FULL purchase price of your vehicle – including sales tax.

 

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FAQs
FAQs

How do I use my Direct Federal AutoCheck?

Use your Direct Federal AutoCheck like any other check.

Use your Direct Federal AutoCheck like any other check. Make it payable to the party you’re buying your car from, and enter the appropriate amount. Endorse the back of the AutoCheck and ask the seller to do the same. Make sure the required information is filled in on the back. (Note: you cannot pay off a Direct Federal auto loan with an AutoCheck.)

What is considered a "New Auto" versus a "Used Auto"?

At Direct Federal, the most recent two model years are considered "new." Model years earlier than the most recent two are considered "used."

At Direct Federal, the most recent two model years are considered "new." Model years earlier than the most recent two are considered "used." We add a new model year each year on June 1st. For example, beginning June 1, 2015, the most recent two model years are 2016 and 2015, both of which would be "new." Model years 2014 and earlier are "used." You can finance "used" vehicles as old as 2007.

How much can I borrow?

You can borrow 106.25% of the value of your car (subject to our maximum auto loan limit of $100,000).

You can borrow 106.25% of the value of your car (subject to our maximum auto loan limit of $100,000). This allows you to finance the entire purchase price plus the sales tax.

How long do I have to use my Direct Federal AutoCheck?

You have 60 days to use your AutoCheck.

You have 60 days to use your AutoCheck. If, for whatever reason, you do not use the AutoCheck during that time period and need another one, simply call us at 781.455.6500.

What happens if interest rates change between the time I apply and the time I use my AutoCheck?

If rates rise from the time you apply until the time you use your Direct Federal AutoCheck, you will get the lower rate that was in effect when you applied.

If rates rise from the time you apply until the time you use your Direct Federal AutoCheck, you will get the lower rate that was in effect when you applied. If rates fall from the time you apply until the time you use your AutoCheck, you will get the rate in effect at the time you use
your check.

What if I need more money?

If you realize you need more money to finance your purchase once you start shopping for your car, simply call us at 781.455.6500.

If you realize you need more money to finance your purchase once you start shopping for your car, simply call us at 781.455.6500. We’ll review your request and if approved, send a
new Direct Federal AutoCheck to you that day.

What types of vehicles can I finance with my Direct Federal AutoCheck?

You may finance automobiles, SUVs, pickup trucks and minivans for consumer use.

You may finance automobiles, SUVs, pickup trucks and minivans for consumer use. You may not use your Direct Federal AutoCheck to finance boats, motorcycles, RVs or campers or any vehicles for commercial use.

When is my first payment due?

Your first payment is due on the 30th of the month following the month you use your AutoCheck.

Your first payment is due on the 30th of the month following the month you use your AutoCheck. For example, if you use your Direct Federal AutoCheck during September, your first payment will be due on October 30.