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LAST UPDATED: April 23rd, 2021

Digital Federal Credit Union (DCU) is based in Massachusetts. It is among the top 20 credit unions in the USA, with members in all 50 states, though it only has full-service branches in two states. Because of this, the financial institution has a very comprehensive online banking system banking.

The credit union has a vision of helping "all members achieve their financial goals". This is done by prioritizing people first, doing the right thing, and making a difference.

DCU is a comprehensive financial service that offers loans, credit cards, retirement options, business banking, insurance, and HSA accounts. In this review, we will be focusing on the lender’s auto loans.

New and used auto loans are available, with an annual percentage rate (APR) starting from 3.74% and loan term options from 36-84 months. You can use a DCU car loan for a lease buyout, or to purchase from a dealer or a private party. The minimum loan amount is $5,000 and the max is $50,000. Applicants have the option to add a co-applicant to their online application.

Keep reading for pros and cons, plus customer reviews of DCU’s car loan services.

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The Good

  • Many Auto Loan Options
  • Low APRs
  • Flexible Loan Amounts
  • Rate Discounts
  • Website and Customer Service

Many Auto Loan Options

When it comes to car loans, DCU has a few different loan options: 

  • Auto loans for new and used cars, trucks and vans
  • Auto loan refinancing for a previous purchase
  • Classic and antique car loans for purchase or refinancing
  • Mobility vehicle loans used to buy or refinance vehicles with special mobility equipment 

It is not a common practice in the industry to offer so many types of loans. This can be convenient for customers when searching for an auto loan that works with their specific needs.

Low APRs

This financial institution offers low auto loan rates, starting at 3.47% APR. This low starting APR is eligible for terms of 36, 48, and 65 months. From there, rates go up, depending on creditworthiness. 

Flexible Loan Amounts

One of the ways that DCU offers flexible auto loan terms is that it offers qualified borrowers to finance up to 120% of the purchase price or book value of the car, whichever is less. 

Rate Discounts

There are a few different rate discounts to know about when shopping for a car loan with DCU. First, a 0.5 % discount is offered if you have a DCU account at a certain status level. 

Second, discounts of 0.25 percent APR are available for energy-efficient vehicles. 

Website and Customer Service

These options, as well as a comprehensive website application,  make DCU a convenient place for a car loan. 

DCU also has great customer service options. If you have any questions you can call in, chat online, email, and send feedback online. The online application is also fast and convenient so you can quickly find what loan you qualify for.


The Bad

  • Checking Account
  • High APR for Classic Cars
  • $50,000 Loan Cap
  • Checking Rates with Credit Worthiness

Checking Account

DCU has a lot of great options for loans but there are a few things to keep in mind.
Firstly, customers with a level 2 (Plus) or level 3 (Relationship) can get a consumer loan rate discount of .5% if they sign up for online payment.

This can be an inconvenience for non-DCU customers by creating an extra step that takes time. It can also be off-putting for customers who already have a banking account with another bank and do not want to maintain more than one account.

High APR for Classic Cars

DCU has a higher APR for classic and antique cars. However, this is still low, considering that many auto lenders only offer funds for used cars with model years less than 1o years old.

$50,000 Loan Cap

The maximum loan amount is only $50,000. This might be a deterrent for shoppers that want to buy a more expensive car. A lot of car buyers won't be able to take out an auto loan at DCU because so many new cars cost more than $50,000. Customer's who know they are looking for vehicles that cost more should look elsewhere for a loan.

Checking Rates with Credit Worthiness

There is no way to calculate what your monthly payment would be if you have less than exceptional credit. Only the best rates are listed for each loan option.


The Bottom Line

Digital Federal Credit Union has a lot going for its vehicle financing services. It offers possible low APR, many loan options including options for used cars older than 10 years.

Potential borrowers should keep in mind that there is a $50,000 loan cap, and that they have to open a checking account through DCU for the best benefits.

We recommend checking out Digital Federal Credit Union to see if they are a fit for your auto loan needs.

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mohit gupta Denver, CO

Pretty good and cheap auto loan company. Highly Recommendable .

7 years ago