Navy Federal Credit Union has been in business since 1933 where they started with only seven members and now they have reached over five million members. Navy Federal is focused on military membership and their vision statement is, “Be the most preferred and trusted financial institution serving the military and their families.” They focus military members, but you can change employers, move, retire, get married, and leave the military without leaving the bank. Their motto is “once a member, always a member”. Navy Federal offers everything you need from checking accounts, IRAs, student loans, money market plans, mortgages, and auto loans.

Rank Chart
Loan Amount
New Car Term Length






$5,000 - 45,000



The Good

  • Low APR
  • Customer service options
  • No application fees


Navy Federal Credit Union has a lot of products and services that they offer exclusively to their members. They offer several types of loans and banking options. Not only do they have a wide variety of services, but they also offer a helpful customer service system where you can call in or easily chat online.


  • Low APR (1.79 percent)
  • 100 percent financing
  • Extended terms for new vehicles (up to 96 months)
  • No early pay off fee
  • No application fees
  • Options to protect your loan
  • Payment protection plans available
  • Links to third party free credit score website
  • Auto buying program so you can car shop
  • 25 year member discounts
  • Auto loan calculator
  • Save on MetLife insurance through Navy Federal Credit Union

With so many options and loan add-ons, its clear that Navy Federal Credit Union cares a lot about the status of your loan. Plus, it will be hard to beat the interest rate prices at Navy Federal

The Bad

  • Exclusive to military members
  • No free credit checks
  • Lack of transparency

Exclusive Membership

Keep in mind that Navy Federal Credit Union is membership based. Only people who have served in the military, or those related to a person serving in the military can qualify for a loan. This greatly limits who can use Navy Federal’s services. Navy Federal also does not provide free credit checks, but uses a third party service to provide the scores.

Lack of Transparency

While Navy Federal Credit Union has a lot to offer, they are also missing a great deal of pertinent information. It is important to have information available for potential customers who are shopping around for the right auto loan provider. This makes it easier for customers to compare auto loans and find the right fit for their needs. It also makes it easier for our team to rank the services of companies in the industry. We would like to see more information regarding loan amounts, mileage limits, and bad credit loan options.

The Bottom Line

We can only recommend the Navy Federal Credit Union if you are involved in the military and you qualify for a low APR loan. If you qualify for membership and for the lowest APR, then an auto loan from Navy Federal Credit Union would be an excellent option. However, if you don’t qualify for the low interest rate there might be a better company out there to fit your needs.

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