Secure Your Used Auto Loan
Give a used car a second chance with interest as low as 3.49%* APR.
Whether you can’t afford a brand new car or need a trusty vehicle to get you to your destination, we’re here to help guide you through the used auto loan process. As intimidating as it may seem, it’s really as simple as reaching out and letting us do the rest for you.
Competitively Low Used Auto Loans
Securing annual percentage rates that benefit you in the long run can be quite a challenge. This is especially true if you’re negotiating through a dealership. However, at Fort Lee FCU you’re able to drive away in the car that suits your needs best without paying more than you can afford.
Speak to one of our professional loan advisors to guide you through the used auto loan process so you can make the right financial decisions, for both short-term and future purposes.
Take advantage of attractive terms and rates on used auto loans:
- Rates as low as 3.49%* APR available up to 84 months
- Vehicles up to seven model years old qualify
- Up to 100% financing available of the NADA retail value, including tax, title, warranty, and GAP not exceeding 125%
Saving in The Long Run with Used Auto Loans
Need more information on used car loans before making a final decision? Apart from consulting with one of our professional loan advisors, you can take advantage of additional resources to provide you with the information you need.
Make Well-Informed Decisions
- How much car can I afford?
- What is my loan rate?
- Research & Shop Vehicles via AutoSMART
- Apply Online Now
Protect Your Investment
- Guaranteed Asset Protection (GAP)
- TriShield Debt Protection
- Extended Auto Warranty
- TruStage™ Auto Insurance
- Need more resources? Call us at (804) 452-0736
Used Auto Loan Frequently Asked Questions
There are many factors associated with the process of getting a used auto loan. Here are some frequently asked questions we receive from our members.
What is a good interest rate for a used car?
There is no set interest rate that’s best for a used car. You want to secure the lowest interest rate, but many factors impact how your rate is determined, including your credit history, the vehicle model year, the lender you select, and the lender’s set rates. That’s why you want to prequalify and compare rates to find the deal that’s most beneficial.
How long should I finance a used car?
It’s recommended that you want to finance a used car for the shortest period you can afford based on your loan amount. That might be 48 months, or it could be 84 months. It all depends on your financial circumstances.
Keep in mind that the longer you finance your car, the lower your monthly payment will be, and the more you’ll pay in interest over the length of the loan. The opposite is true for a shorter loan term.
Is it better to get an auto loan from a credit union, bank or dealership?
If you want to secure a lower interest rate, you’ll usually fare better by selecting a credit union or bank over a dealership. Dealerships regularly inflate their interest rates to turn a profit, though sometimes they offer exclusive auto financing deals subject to credit approval.
How do I get the best auto loan rate?
To get the best auto loan rate, you want to improve your credit score before you apply, then prequalify with several lenders to compare rates. You want to select the lender that will guarantee you the lowest auto loan interest rate and the most desirable overall terms.
Should I get an auto loan before going to a dealership?
It’s usually in your best interest to, at the very least, prequalify with a few lenders before going to a dealership. You can have an idea of the terms you can receive, and if you choose to get dealership financing later, you’ll have some leverage with your prequalification terms.
Why Choose Fort Lee FCU for Your Used Auto Loan?
At Fort Lee Credit Union, we don’t just want you to get an auto loan; we want you to secure a loan with affordable terms that you can feel good about without jumping through unnecessary hoops.
- Your loan offer is good for 30-45 days: You don’t have to make a choice on your used auto loan or your vehicle immediately. Take up to 45 days to make this decision.
- Get competitive rates: Our interest rates start as low as 3.49%. We keep our rates competitive to make it easy for you to get a loan you can afford.
- Flexible terms: Auto loan terms aren’t one size fits all, that’s why we offer flexible terms up to 84 months to suit your financing needs.
- Up to 125% financing: If you don’t have the money for a downpayment or to cover other associated insurance, title and tag fees, no problem. We offer up to 125% financing to pay for all of your used car costs.
- Up to 7 model years old: We understand that not everyone is purchasing a vehicle that's just a few years old. That’s why we finance cars that are up to 7 model years old.
Additional Lending & Banking Options With Fort Lee FCU
As a Fort Lee Federal Credit Union member, you’re able to enjoy other benefits with competitive rates and flexible terms. Find the most suitable loan option to match your needs.
Recreation Vehicle Loans
Visa® Credit Cards
Used Auto Loans for The Pre-Loved Car of Your Dreams
Dealer financing may sound appealing, like a one-and-done deal on the lot, but think again.
At Fort Lee FCU, we’re able to offer competitive used auto loans that ensure you’re getting optimal rates, flexible terms, and no gray area that leaves you wondering if there was a better deal around the corner.
Let us help you not only get places but become your trustworthy companion for when you feel the need to explore.
*New or Used Vehicle Loans: 3.49% APR is applicable on New or Used Vehicles for terms up to 60 months. Terms up to 84 months available depending on model, mileage, and amount borrowed. Credit qualifications apply. The rate you receive is determined by credit qualifications. Ask a loan officer for more information. A loan example: $25,000 financed at 3.49% APR for 60 months gives a monthly payment of $454.77. Additional loan example: $25,000 financed for 84 months at 4.24% APR would make the monthly payment $344.58.