Since 1933, Navy Federal has provided services to military personnel and their families.

Based on the model year, a car is old if it is 20 years old or older and is susceptible to higher collateral lending rates.

Discounts on the active duty rate( for veterans also) may be used, subject to some limitations.

New cars are those from the model years 2021, 2022, or 2023 with 7,499 miles or less.

For this, the minimum loan amount is $30,000, with durations of 85 to 96 months.

The monthly payment for a new auto loan of $20,000 for 36 months at 2.29% APR is $576.

Any service, purchase, or lease made via the Navy Federal Car Buying Service is not the fault of Navy Federal Credit Union.

Your auto loan rate depends on your credit and financial history, model year, and vehicle mileage.

For 90 calendar days starting on the date of the loan check, your vehicle loan preapproval and interest rate are guaranteed.

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Starting rates for vehicles older than 2020 or more than 30,000 miles are 3.79%.