Auto Loans

Get the financing you need to get behind the wheel of your dream vehicle. Whether you're looking to purchase a new or used car, buy out a lease, or refinance an existing loan, we offer the rates and flexibility to put you in the driver’s seat.
Interior view of an automobile

Your Path to Vehicle Ownership

With competitive rates, flexible terms, and the convenience of an easy application and quick approval process, we’ll have you on the road in no time.
  • Wide range of loan types
  • Flexible terms up to 84 months
  • Total purchase financing
  • Quick application approval

Key Features

Flexible Terms

Choose a loan term that suits your needs and budget, with options available for up to 84 months. Whether you prefer a shorter payoff period or a longer-term loan, we’ll help you find a term that’s just your speed.

Comprehensive Financing

Finance more than just the vehicle's price. Cover the entire purchase cost, including sales tax and GAP insurance, giving you peace of mind and a single, convenient monthly payment.

Fast Application Process

Spend less than 10 minutes completing your loan application and, in most cases, get an approval decision the same day.

Auto Loan Calculators

Navigate your financial journey with our helpful calculators. Easily estimate payments, savings, and more to make informed decisions.

Use this auto loan calculator to help you estimate what your monthly payment will be.

Determine out how much you could reduce your monthly and total loan payments if you refinance your auto loan.

Estimate how much car you can afford.

Auto Rates

model year

To see the full table, scroll horizontally.
term (months)
Apr1 As low as
Cost / $1,000
up to 63
0.0664
18.8400
up to 66
0.0664
18.1300
up to 75
0.0699
16.5000
up to 84
0.0799
15.5800
To see the full set of data, scroll horizontally.
term (months)
Apr1 As low as
Cost / $1,000
up to 63
0.0664
18.8400
up to 66
0.0664
18.1300
up to 75
0.0699
16.5000
up to 81
0.0799
16.0100
To see the full set of data, scroll horizontally.
term (months)
Apr1 As low as
Cost / $1,000
up to 63
0.0689
18.9600
up to 66
0.0689
18.2500
up to 75
0.0724
16.6200
up to 78
0.0809
16.5300
To see the full set of data, scroll horizontally.
term (months)
Apr1 As low as
Cost / $1,000
up to 60
0.0749
20.0300
up to 66
0.0764
18.6000
up to 72
0.0829
17.6800
To see the full set of data, scroll horizontally.
term (months)
Apr1 As low as
Cost / $1,000
up to 60
0.0849
20.5100
up to 72
0.0829
17.6800
View Disclosures
The APR is effective as of 02/08/2024 and subject to change. Maximum loan amount is $100,000.00. Maximum loan-to-value is 120% (full purchase price plus sales tax). Maximum loan-to-value for Tier 4 borrowers is 100% (No Exceptions). Other terms and conditions may apply. Rates vary based on term, credit score and model year. Subject to credit approval.

Services

Interested in an auto loan?

Our relationship bankers are here to help you take the first step.
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Glossary

Annual Percentage Rate (APR)

The Annual Percentage Rate (APR) is the yearly interest rate that borrowers are charged on a sum of money. It is expressed as a percentage and represents the actual cost of funds over the term of a loan. This rate includes any fees or additional costs associated with the transaction but does not consider compounding. The APR is a helpful measure for consumers to compare among lenders as it provides a clear and standardized number.


Lienholder Information

Direct Federal Credit Union
ISAOA/ATIMA

50 Cabot Street
Needham, MA 02494

Not-for-Profit

Direct Federal is a not-for-profit, meaning that earnings are invested right back into the credit union. And that means Direct Federal can offer lower loan rates and higher deposit rates that you simply won't see anywhere else.

GET IN THE KNOW

Frequently Asked Questions

Use the search bar below to sort through our library of FAQs to learn more about a specific product, service, or process.
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Do you offer GAP insurance?

Yes, you can add GAP insurance to any auto loan for a low flat rate of $395. Learn more about GAP >

Do you offer RV loans?

We do not offer RV loans at this time, but click below to learn more about what personal loans and lines of credit we offer!

View Home Equity >

View Personal Loans >

View Credit Cards >

Do you offer boat loans?

We do not offer Boat loans at this time, but click below to learn more about what personal loans and lines of credit we offer!

View Home Equity >

View Personal Loans >

View Credit Cards >

Do you offer loans for commercial/business vehicles?

Yes, we do finance commercial vehicles!

View Business Loans >

Do you offer motorcycle loans?

We do not offer motorcycle loans at this time, but click below to learn more about what personal loans and lines of credit we offer!

View Home Equity >

View Personal Loans >

View Credit Cards >

How can I check the status of an application?

If you are an existing member, the easiest way to check the status of an application is through the Application Center within Digital Banking.

Check Status as a Member >


If you are not a member, please visit our Application Status Center.

Check Application Status >

How can I pay my bill?

We offer a variety of options to pay a Direct Federal Loan or Line of Credit.

View payment options for Direct Federal Loans and Lines >

How can I upload proof of insurance for my vehicle?
How do I change or remove names from my Title?

If you are adding, changing, or removing a name on the title, you can submit a name change request through Online Banking or by calling our Contact Center at 888.2DIRECT.

IMPORTANT: Direct Federal cannot process the name change for you. You must complete this process with the applicable RMV.

This request allows us to print/prepare the title so you can process the name change at the RMV. We will mail the title and permission letter to the address you have on file with us. Then bring those documents to your RMV so they can process the name change and send the title back to us.

How long do I have to use my Direct Federal Auto loan?

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

How much can I borrow for my auto loan?

You can borrow 120% 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 GAP insurance and the sales tax.

What do I need to do with my Title if I am moving to another state?

If you are moving to a different state within the U.S., a state change request should first be submitted through Online Banking or by calling our Contact Center at 888.2DIRECT.

IMPORTANT: Direct Federal cannot process the state change for you. You must complete this process with the applicable RMV.

This request allows us to print/prepare the title so you can process the state change at the RMV. We will mail the title to you at the address we have on file. Then bring it to the RMV to complete the title and registration in your new state. We cannot do this for you.

IMPORTANT: The process is different for owner retained states. If you live in an owner retained state, you do not have to file a state change with us. Simply go to your new RMV to title and register there. Please make sure all Direct Federal’s information is correct on all documentation so that we get notified of the state change.

Going to the RMV before filing a request with us will result in delayed processing of your forms. The RMV will contact us to request that the title be mailed to them, resulting in a higher chance of title loss. In this case, we will not be able to provide you with a duplicate title unless Direct Federal is listed as lienholder.

What happens if interest rates change between the time I apply and the time I purchase a vehicle?

If rates rise from the time you apply until the time you use your loan, 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 loan, you will get the lower rate in effect at the time of purchase.

What if I lose my Title after my loan is paid in full?

The following must be done if you have lost or misplaced your title after the vehicle loan is paid in full and our lien is released:

Bring the paid loan letter, which includes the lien release statement, to your RMV to request a new title.  

You will be responsible for all fees. The RMVs does not allow Direct Federal to apply for a duplicate title on your behalf since we are no longer a lienholder.

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.

What if I or the RMV lose my Title while doing a state or name change?

One of the following must be done if you have lost or misplaced the title that was mailed to you while the loan is still open:

Contact Direct Federal at 888.2DIRECT to request a duplicate title. Processing time will depend on the RMV. You will be responsible for the state’s duplicate title fee.

Contact your state’s RMV if you live in an owner retained title state for a duplicate title. You will be responsible for the state’s duplicate title fee.

What if you do not receive my Title with Direct Federal listed as lienholder?

You will receive three letters notifying you that your title, with Direct Federal listed as lienholder, has not been received. If the title is not received within 90 days of your loan funds being disbursed, your interest rate may be increased to 18.00% APR (Annual Percentage Rate). Once we receive the perfected title, we will revert the rate to the rate on your loan agreement. This will not affect your credit history.

What information needs to be on the Title?

Once you get your title, there may be some changes that need to be made before the title is ready to be given to Direct Federal. Please do not write on your title, as this will void the title. In the Names and Mailing Address of Owners section, it must list you as the owner and your current address. If the title application with the RMV is completed properly, we will be notified that the title has been created with "Direct FCU" as lienholder.  


IMPORTANT: The VIN (Vehicle Identification Number) on your Loan Note and Agreement must match the VIN on your title. If you are aware of any discrepancies, please contact us as soon as possible.


If the vehicle you are titling is for your business and you would like it in your business name, you must open a business membership and apply for a commercial loan. If you have started the loan as a personal vehicle loan, the title will need to be in your name.  


Direct Federal’s lienholder information:

Direct Federal Credit Union

ISAOA/ATIMA

50 Cabot Street

Needham, MA 02494

What is Direct Federal's lienholder information?

Direct Federal Credit Union
ISAOA/ATIMA

50 Cabot Street
Needham, MA 02494

What is considered a "new auto" versus a "used auto"?

New Retail Auto:
New Retail Autos are defined as vehicles from the current or previous model year. Also, a vehicle is considered new if it has not been previously titled or has fewer than 7,500 miles (i.e. dealer demonstrators).

Used Retail Auto:
Used Retail Autos are defined as vehicles no more than eight model years removed from the definition of new.

What is the difference between a Title and Registration?

The title proves that you own the vehicle. The registration is permission from the state to operate it on the road. It will come to you with license plates and/or a sticker to display on the vehicle. In most states, your registration should always be with your vehicle, just like your license plates.

The final step of owning your new vehicle is to register and title it at your state’s Department of Motor Vehicles (RMV). It may also be known as the Bureau of Motor Vehicles (BMV), the Registry of Motor Vehicles (RMV), or the Department of Transportation (DOT), depending on your state. For simplicity here, we will refer to it as the RMV.

Direct Federal only holds onto the title while your auto loan is open if you do not live in an owner retained state. If you live in an owner retained state, the RMV will send you the title to keep safe until your loan is paid in full.

What types of vehicles can I finance?

You may finance automobiles, SUVs, pickup trucks, and minivans for consumer use. For commercial vehicles, visit the Business Loans page.

When is my first payment due for my auto loan?

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

Why do I need to provide Direct Federal my Title?

As part of your loan agreement with Direct Federal, and because your car is serving as the collateral for the loan, you are required to provide the title to us within 90 days of opening the loan. The title must display your name as the owner and list Direct Federal as a lienholder. Being a lienholder means we have an interest in the property that is on the title until the loan is paid in full.

If we receive a title for your vehicle that does not have “Direct FCU” listed as lienholder,  forms to add lienholder will be mailed to you. Please complete the highlighted sections and return them in the envelope provided along with a check made payable to the applicable RMV so we can file for lien placement on your behalf.  


Note: If the envelope is lost, please send documents to:

Direct Federal Credit Union

Attn: Loan Servicing

50 Cabot Street

Needham, MA 02494

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