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Calculate your APR

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Loan Amount

Credit Rating

Average Annual Interest Rate	Average Monthly Payment
8.45	$362

Coastal Federal Credit Union auto loans overview

Coastal Federal Credit Union is a credit union primarily for members who live or work in North Carolina. This lender offers auto loans for new and used vehicles and also provides refinancing options.

Here’s everything you need to know about Coastal Federal Credit Union auto loans:

Starting APR: 2.50%
Minimum loan amount: $5,000
Minimum loan term: 6 months
Maximum loan term: 84 months
Prepayment penalty: No
How to apply: Online, over the phone, or in-person at a local branch

Coastal Federal Credit Union auto loan pros	Coastal Federal Credit Union auto loan cons
About half of all loan approvals receive interest rates under 3% APR	$5 fee when paying over the phone
Auto refinance guarantee	Loan eligibility limited to members
90 days to make first payment
Grace period for late payments (up to 15 days)
Financing program available for recent college grads

What kind of auto loans does Coastal Federal Credit Union offer?

Loan types

Coastal Federal Credit Union offers auto loans for new and used vehicles, as well as refinancing options.

How much does it cost?

Interest rates range from 2.50% APR to 16.44% APR. To qualify for the lowest rates, you must have an excellent credit score and be applying for a loan on a vehicle that is under five years old.

Who is eligible?

If you are not already a Coastal Federal Credit Union member, you must become a member when you apply for an auto loan. To be eligible for membership, you must meet one of the following requirements:

Be an employee or member of one of the businesses and organizations partnered with Coastal Federal Credit Union
Be a member of the North Carolina Sustainable Energy Association (North Carolina residents only)
Be an immediate family member of a Coastal Federal Credit Union member
Live, work, worship, or attend school in Vance County, NC
Live or work in one of the 24 cities defined in Coastal Federal Credit Union’s Community Charter

Additionally, your loan eligibility will be determined by:

Your credit history
Your finances
The specifics of your requested loan

Getting a quote

Application requirements

You can apply for an auto loan from Coastal Federal Credit Union online, over the phone, or in-person at a local branch. You will need to provide the following information:

Requested loan amount
Requested loan term
Social Security number
Residency information
Photo ID (drivers license, passport, military ID, or state ID)
Financial information
Employment information

Restrictions

Coastal Federal Credit Union does not offer financing for used vehicles that are over 10 years old.

Financing amount

Coastal Federal Credit Union offers auto loans starting from $5,000.

Refinancing your Coastal Federal Credit Union auto loan

You can refinance an existing Coastal Federal Credit Union auto loan as long as you have had the loan for at least 12 months.

Additionally, you can refinance an auto loan from another lender. Coastal Federal Credit Union guarantees that you will save at least $100 on your monthly payments as a result. If not, you will receive $200 in cash.

You might want to consider refinancing your current auto loan if:

You are making expensive monthly payments
You are paying high interest rates
You have a good credit score and could qualify for better loan terms

What if Coastal Federal Credit Union auto loan isn’t the right choice for you?

Your loan terms and interest rate will depend on a number of different factors, including your credit score, debt-to-income ratio, employment history, and income. In order to get the best rate, it’s important to shop around.

Jerry is the super app that helps you save on all your car-related expenses, including auto loan refinancing.

After a quick sign-up, Jerry will compare loans from dozens of different lenders to find you the best loan terms. Even better, Jerry will handle all the hard parts of refinancing so that you can sit back and enjoy the monthly savings.

Here are average rates from some of the most popular lenders:

Lender	Starting APR	Terms (months)	Loan amount
Bank of America	2.59%	48–72	$7,500+
Lightstream	2.49%	24–84	$5,000–$100,000
myAutoLoan	2.49%	24–72	$8,000+
Carvana	3.9%	36–72	$1,000–$85,000
Capital One	3.99%	36–72	$4,000–$50,000

FAQs

What credit score do you need to get a Coastal Federal Credit Union auto loan?

Coastal Federal Credit Union likely won’t accept applicants with credit scores under 520. Applicants with higher credit scores tend to qualify for the best interest rates.