Navy Federal Auto Loans: What you need to know before the paperwork

Navy Federal Auto Loans

Navy Federal auto loans feature truly competitive loan rates, interest rate discounts for military members, and flexible repayment terms. Let’s be clear right from the start: In order to apply for a Navy Federal car loan, you must be eligible to become a member of the Navy Federal Credit Union.

Must know about Navy Federal auto loans

Here are some important features regarding Navy Federal auto loans.

Limited auto loan options

You will be able to apply for a loan both for new or used cars and trucks, as well as for motorcycles and boats. However, if you want a leased acquisition loan or intend to buy a used car from a private seller, you will need to take out a loan from another lender.

Limited eligibility for Navy Federal auto loans

As mentioned, to get a Navy Federal Credit Union auto loan, you need to be a member. To be eligible to join the Navy Federal Credit Union, you must be one of the following:

  • A member of the military — Army, Marine Corps, Navy, Air Force, Coast Guard or Air National Guard — on active duty
  • A veteran
  • A reservist
  • A retired service member
  • A U.S. government employee assigned to DoD installations
  • An ROTC participant
  • An individual in the Delayed Entry Program
  • A Department of Defense contractor assigned to government installations
  • A Department of Defense officer candidate
  • A Department of Defense civilian employee
  • A Department of Defense civilian retiree

Not only can members join Navy Federal auto loans, but immediate family members can too.

Competitive auto loan rates and rate discounts

Navy Federal has an incredible advantage: it manages to offer competitive interest rates with deep interest rate discounts.

Rates are lower for new vehicle loans, but Navy Federal also offers low rates on latest-model used car loans. Federal Navy rates on older used vehicles or those with more than 30,000 miles are similar to those offered by other banks.

>>>Learn More: Ally Bank auto loans: The most important stuff you need to know

Deep dive in the Navy Federal auto loans

Here you will find other important details on Navy Federal Credit Union car loans. Navy Federal offers, like many other similar institutions, the ability to apply for pre-approval. Your pre-approval and interest rates are good for 60 days after the check is issued, giving you plenty of time to purchase a car.

Navy Federal offers 100% financing, which means you may not need to make a down payment. This makes buying a vehicle easier if you don’t have cash on hand.

Navy Federal offers several automobile buying programs. You will just have to find the one that suits you best. The Auto Buying program offers savings on cars purchased through its dealer network, and the Overseas Auto Buying program provides vehicle delivery overseas or to the United States.

The loan term is up to 96 months for new vehicles and 72 months for used car loans. Keep in mind that a longer loan will lengthen your payments and may make your monthly payments cheaper, but you will pay more interest over the life of the loan.

>>> Find other options: Bank of America Auto Loans: You need to see this!

How to apply for a loan from Navy Federal Credit Union

If you are interested in applying for a Navy Federal automobile loan, you can do the pre-approval directly online. The application process is quick and you can receive a decision within five minutes by email or text.

To apply for pre-approval, remember to have some information on hand, including your contact information, housing, employment, and income information, and the desired loan amount and term. Of course, for a refinance loan, you will also need to provide the car’s VIN and exact mileage along with other information.

If you are pre-approved, you will immediately be able to see the loan amount and interest rate that Navy Federal is willing to offer you.

Before applying for a car loan with Navy Federal, we still recommend that you check your credit and compare loan offers. Shopping around can help you find the best loan rate and deal for your needs.


In this post we’ve discussed and deep dive into the Navy Federal auto loans. We hope this can be helpful for the choice of your next loan. If you want to compare more in-depth, you can read the other reviews we wrote.

If you’re unsure whether an Ally Bank auto loan is right for you, consider an alternative, like Capital One Auto Loan.

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