Which credit unions have the best car loan rates?

7 Best Credit Unions for Car Loans

7 best credit union car loans
Credit union APR range Terms (months)
Navy Federal Credit Union 1.79% 36–96
Pentagon Federal Credit Union 1.79% 36–84
Randolph-Brooks Federal Credit Union 1.95% 24–84

Is it better to go through a dealership or credit union?

Consumer advocates agree that banks and credit unions almost always offer the best financing choices for cars, motorcycles, RVs, and other vehicles. Not only do they tend to offer lower interest rates and fees, but most will conveniently pre-approve your loan before you head to the dealer.

What score do credit unions use for auto loans?

FICO® Score☉ 8 and 9. These are the latest generic FICO® scoring models. Although FICO® didn’t create these models specifically for auto lenders, they are widely used credit scores, and auto lenders may use a base FICO® Score when reviewing auto loan applications.

What is the minimum credit score for an auto loan?

There is no set credit score you need to get an auto loan. If you have a credit score above 660, you will likely qualify for an auto loan at a rate below 10% APR. If you have bad credit or no credit, you could still qualify for a car loan, but you should expect to pay more.

Is 2.9 APR a good rate?

If you’re buying a new car at an interest rate of 2.9% APR, you may be getting a bad deal. However, whether or not this is the best rate possible will depend on factors like market conditions, your credit background, and what type of manufacturer car incentives there are at a given point in time on the car you want.

What loan is best for a car?

Top 6 auto loan providers

  • PenFed Credit Union. 0.99% Top Credit Union. 9.5.
  • Auto Approve. 2.25%* Top Choice for Refinancing. 8.3.
  • myAutoloan. 1.90% Most Popular Marketplace. 8.8.
  • Consumers Credit Union. 1.90% Most Flexible Terms. 7.5.
  • Bank of America. 3.69%** Top Choice for Poor Credit.
  • Carvana.