Credit unions are typically a good option for car loans, as they often offer lower rates than banks or other lenders. Here are some credit unions that offer competitive rates for car loans:
- SchoolsFirst Federal Credit Union: Starting APR of 4.24%, up to 84 months, membership requirements include a professional connection to education.
- Navy Federal Credit Union: APR of 4.54%, terms of 36 to 96 months, membership requirements include a military connection.
- PenFed Credit Union: Starting APR of 4.89%, terms of 36 to 84 months, no prepayment penalty, you can prequalify for a new or used car loan and see estimated terms without a hard credit check.
Membership requirements for credit unions may include living in a particular area or working for specific organizations or companies, but some credit unions have nationwide membership availability, so joining may be easier than you think.
