Availability: Loans only for members of the credit union. Memberships granted to military and their families.
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 on people that have served in the military 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
Term Length
Our Score
36-75 months
$5k-No Max
12-84 months
36-72 months
12-96 months

The Good

Navy Federal Credit Union has a lot of products and services that they offer exclusively to their members. 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. Here is what we liked:

  • Low APR interest rates (1.49%)
  • 100% financing
  • Extended terms for new vehicles (up to 96 months)
  • No mileage limit
  • 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

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. A few other things to keep in mind about Navy Federal Credit Union are:

  • No free credit checks from their company
  • Maximum on $50,000 loan unless you qualify for more
  • No bad credit loans

These things are definitely not deal breakers. Make sure your loan is good for your car purchase and you know all the terms and conditions to your loan.

The Bottom Line

The Navy Federal Credit Union is only recommended from us 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 interest rate 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.

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