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 2.24% APR for 48 months 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 many cases, you will have a decision the same day you apply.
- Comprehensive. Finance the FULL purchase price of your vehicle – including sales tax.
have an auto loan with a different lender?
Refinance your existing car loan with a Direct Federal auto loan and lower your monthly payments right away with our leading low interest rate. You can refinance your car loan up to the full value of the car and get cash back to be used however you wish.
Car value: $16,700
Current Auto Loan from another lender: $10,000
You would pay off your current your current auto loan and receive $6,700 back in cash to spend however you wish. Click here to get started today. The application will take less than 10 minutes.
- New/Used/Refinance - Featured Auto Loans
|MODEL YEAR||2016 - 2017|
|MONTHLY PAYMENT PER $1,000||$16.99|
|MODEL YEAR||2014 - 2015|
|MONTHLY PAYMENT PER $1,000||$17.03|
|MODEL YEAR||2012 - 2013|
|MONTHLY PAYMENT PER $1,000||$18.02|
|MONTHLY PAYMENT PER $1,000||$18.16|
|MONTHLY PAYMENT PER $1,000||$18.48|
|MODEL YEAR||TERM||APR*||MONTHLY PAYMENT PER $1,000|
|2016 - 2017||Up to 48 Months||2.24%||$21.84||Apply Now|
|Up to 63 Months||2.49%||$16.99||Apply Now|
|Up to 66 Months||2.79%||$16.40||Apply Now|
|Up to 75 Months||3.09%||$14.72||Apply Now|
|Up to 84 Months**||3.89%||$13.67||Apply Now|
|2014 - 2015||Up to 48 Months||2.34%||$21.90||Apply Now|
|Up to 63 Months||2.59%||$17.03||Apply Now|
|Up to 66 Months||2.89%||$16.45||Apply Now|
|Up to 75 Months||3.19%||$14.77||Apply Now|
|2012 - 2013||Up to 48 Months||2.74%||$22.08||Apply Now|
|Up to 60 Months||2.99%||$18.02||Apply Now|
|Up to 66 Months||3.29%||$16.64||Apply Now|
|Up to 72 Months||3.59%||$15.51||Apply Now|
|2010 - 2011||Up to 48 Months||3.04%||$22.21||Apply Now|
|Up to 60 Months||3.29%||$18.16||Apply Now|
|Up to 66 Months||3.59%||$16.78||Apply Now|
|2008-2009||Up to 48 Months||3.69%||$22.51||APPLY NOW|
|Up to 60 Months||3.99%||$18.48||Apply Now|
*The rate listed is the Annual Percentage Rate (APR) which includes a 1% discount for automatic payment from a Direct Federal Checking or Savings Account. The APR is effective as of 6/1/16 and subject to change. Maximum loan amount is $100,000.00. Maximum loan-to-value is 106.25% (full purchase price plus sales tax). Other terms and conditions may apply. Rates vary based on term, credit score and model year. Subject to credit approval.
**Minimum $25,000 for loans greater than 75 months. Please contact us for details.
To check the status of your loan, please click here.
Use this calculator to help you determine your monthly car loan payment or your car purchase price. After you have entered your current information, use the graph options to see how different loan terms or down payments can impact your monthly payment. You can also examine your complete amortization schedule by clicking on the "View Report" button.
Use this calculator to help you compare financing between your credit union and low interest dealer financing. A dealer rebate, usually not available when you choose low interest dealer financing, combined with credit union financing, can produce a lower initial loan balance, and in many cases, a lower monthly payment. The best option depends on the price of the vehicle, the size of the rebate and the interest rates available for financing.
Use this calculator to help you determine whether you should take advantage of low interest financing or a manufacturer rebate. A rebate will reduce your auto loan balance, while low interest financing lowers your monthly payment. The best option depends on the price of the vehicle, the size of the rebate and the interest rates available for financing.
Home equity loans generally often have lower interest rates than auto loans and the interest may be tax deductible. Two good reasons to take a look at home equity loans to finance your automobile purchase.
Have you just started the car-buying process? Give us a call if you'd like us to walk you through the process. If you want to know how much car you can afford and what your monthly payments will be, use our loan calculators above. Keep in mind the additional costs associated with owning a vehicle such as insurance, registration and maintenance.
Lease vs. Buy
Why lease? Leasing is typically a good option if you drive less than 10,000 miles each year. (Keep in mind excessive miles or wear-and-tear to you car can result in costly fees. Also with a lease, you have the ability to trade in your car every few years for a new model.
Why buy/finance? Current low rates and long-term financing options make it a smart time to buy. Buying may also help you avoid a slew of fine-print fees that often come with a lease. And by buying, you can eventually own your auto outright and become payment-free.
Buying Your Car
Negotiate the best deal. Whether you’re buying from a broker, a dealer or a private owner, the following tips can give you the greatest negotiating power for the best deal.
1. Understand the current market’s car pricing.
2. Secure financing before walking into the dealer. Having a valid check in hands shows the dealer that you mean business.
Direct Federal sends you a check, valid up to your approved dollar amount, within just a day or two after you apply.
3. Research and know about any special rebates.
A rebate is acquired immediately and allows your to take out a lower initial loan. Direct Federal sends you a check, valid up to your approved dollar amount, within just a day or two after you apply.
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
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.