How do I apply for an auto loan?
Aftersigning 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.
Do I need to be a Navy Federal member to apply for an auto loan?
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.
What type of information do you collect when I apply for an auto loan?
When applying for an auto loan, you'll need to provide the following details for yourself and any co-applicant:
- contact information (phone number and email)
- current housing, employment and income information
- any vehicle trade-in information (title or loan information, registration, etc.)
- amount expected to finance (including vehicle purchase price, taxes, tags, title and warranty, minus any down payment)
- length (term) of the desired loan
And, if you’ve already picked out the vehicle you wish to buy, you’ll also need:
- the 17-character vehicle identification number (VIN)
- the state where you’ll register the vehicle
- the exact mileage reading
- the dealer or seller's name
For refinance loans, you'll need to give us specific vehicle information such as the VIN, exact mileage, lender contact information and payoff amount.
Do I need a co-applicant to be approved for an auto loan?
No, but depending on your situation, a co-applicant may help you meet the requirements for credit and the ability to repay.
What kind of credit score do I need to get a car loan?
We don’t require a set credit score to qualify for an auto loan with us. We take many factors into consideration.
Do I need to make a down payment to be approved for an auto loan?
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.
How long does it take to fill out the form to apply for an auto loan from Navy Federal?
It typically takes less than 10 minutes to complete an application.
I have limited credit history. Can I still get an auto loan?
Yes, but a co-applicant may be required depending on the loan amount.
What is a VIN?
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.
Does Navy Federal charge a fee to apply for an auto loan?
No. Navy Federal doesn't charge an auto loan application fee.
How long is my preapproval auto loan check good for?
Your auto loan preapproval is good for 90 calendar days from the date of the check.
How soon will I receive a decision after I submit my loan application?
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.
Can I get approved for an auto loan before I pick out my car?
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.
If I'm at the dealership and have picked out my new car, can I get auto financing quickly through Navy Federal?
Yes, you can easily apply for an auto loan right from your phone via our mobile app.1 In most cases, you'll receive a decision seconds. Once you're approved, stop by our nearest branch to pick up your check.
Are preapproved loans accepted at overseas dealerships?
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.
- Find the vehicle you would like to purchase and have the VIN ready.
- Apply online or on the mobile app for an auto loan for the vehicle you have selected.
Once my loan is approved, how do I get my check?
You can receive your check the following ways:
- By mail sent to the address you provided (there may be a fee depending on delivery type)
- By picking it up at a branch
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.
How can I find dealers that will accept my auto loan financing from Navy Federal?
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.
Where can I find more calculators to help me evaluate my auto-buying options?
You can find our auto calculators here.
If my auto loan application isn’t automatically approved, will I still be able to sign my Promissory Note electronically?
Yes. Email notifications are sent with directions on how to electronically sign your Promissory Note.
What if I run out of time to sign the Promissory Note electronically?
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.
How can I send my signed Promissory Note?
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:
- Visit our Document Upload Portal to easily submit any Consumer Loan documents. Once signed in, choose the document file to upload, select the document type and then click Upload to submit.
- Send an attachment through digital banking bysigning in to your accountand selecting Messages. Then choose Send us a message and select your loan number, or select New/Recent Application, then Vehicles and Other Loans.Finally, you can write a message if you wish, then select the document file to attach and click Continue to proceed with your message.
- Email the document as a PDF attachment to loaninfo@navyfederal.org. Include your name and Access Number in the subject line. In the body of the email, provide your contact phone number and any additional comments you might have. You may send the document as an image from your smartphone, but it may take longer to process.
- Drop off the printed and signed doucument(s) at any of our branches.
What are the current rates for new and used auto loans?
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.
Do you have different rates for buying a new car vs. buying a used car?
Yes, our rates are different for new- or used-car purchases. View our rates here.
How will the interest rate be determined for my auto loan?
Your auto loan rate is based on your:
- credit and financial history
- amount financed
- length (term) of the loan
- car’s model year
- car's exact mileage reading
Will shopping around for an auto loan hurt my credit score?
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.
What will my monthly payment be?
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.
Can I finance my motorcycle with a Navy Federal auto loan?
No, you can't finance a motorcycle with a Navy Federal auto loan. But we do offermotorcycle loansfor new and used motorcycles, which have different interest rates and application processes from our auto loans.
Can I finance my commercial or business vehicle with a Navy Federal auto loan?
No, you can't finance a commercial or business vehicle with a Navy Federal auto loan. But we do offer business and commercial vehicle loansto help keep your business moving.
What does the dealer need to do to validate my preapproval check?
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:
- name of the dealer
- purchase amount (numerical and written must be identical)
- borrower's signature and date
- vehicle year, make, model, mileage and VIN
The back of the check must have the:
- dealer endorsem*nt signature or business stamp (identical to the name of the front on the check)
- validation code provided by Navy Federal
- borrower's signature and, if applicable, the co-borrower's/guarantor's signature
For more information, please see our Dealer Instructions.
If you approve my loan application, am I obligated to finance my vehicle with Navy Federal?
No. Getting approved for an auto loan with Navy Federal does not obligate you to use the funds.
