New & Used Auto Loans
Buying a vehicle can be a thrilling experience. Get even more excited by locking in a great auto loan rate with First NRV Credit Union today. For more information on auto loans, refinances, and more; please call 540-639-0885 and speak to one our auto loan specialists today!
Auto Loan rates starting as low as 5.99% APR*. Apply online today and we will reach out to setup an appointment with you once we have started processing your application.
Interest Rate Information
New & Used Auto Loan Rates
Interest Rates are Increasing on 10/01/2022. Please call First NRV for rate information on used vehicles. Grades are a combination of FICO score and other conditions.
A+ > 740; A = 739 to 690; B = 689 to 650; C = 649 to 620; D = 619 to 580; E = 579 to 0
| Grade / Months | 6 - 24 | 25 - 47 | 48 - 60 | 61 - 66 | 72 - 96 |
|---|---|---|---|---|---|
| A+ | 5.99%* | 6.49%* | 6.99%* | 7.49%* | 7.99%* - 9.99%* |
| A | 5.99%* | 6.49%* | 6.99%* | 7.49%* | 7.99%* - 9.99%* |
| B | 8.99%* | 9.49%* | 9.99%* | 10.99%* | 11.99%* - N/A |
| C | 11.99%* | 12.99%* | 1.99%* | 16.99%* | N/A |
| D | 17.99%* | 17.99%* | 17.99%* | N/A | N/A |
| E | 17.99%* | 17.99%* | N/A | N/A | N/A |
Additional Loan Rate Information:
Interest rate add-ons may be applicable for your loan based on one or more of the following factor(s):
- Gas vehicles with over 100,000 miles = add 1.50%*
- Diesel vehicles with over 250,000 miles = add 1.50%*
- 100%+ of NADA value = add 1.00% APY*
- 72, 84, & 96 month terms are only available on new vehicle loans (no used vehicles)
- A new vehicle is defined as a vehicle that has never been titled.
- Vehicle age >3 years adds 1.00% APY* to your rate.
- Vehicle age >7 years automatically starts at a B score rate (Even for A+ & A score borrowers).
If your credit score is worse than a B score rate, your rate will be increased accordingly.
- Vehicle age >20 receives an unsecured interest rate based on your credit score and the requested term of the loan.
Guaranteed Asset Protection (GAP)
Making sure that you’re covered
Guaranteed Asset Protection (GAP) coverage is a type of insurance that is typically offered to car buyers at the time of purchase. It is designed to protect the consumer in the event that the vehicle is declared a total loss due to an accident, theft, or other covered event. First NRV Credit Union also offers a fairly priced GAP coverage option to help protect you and your vehicle.
In the event of a total loss, GAP coverage will pay the difference between the outstanding balance on the car loan or lease and the actual cash value of the vehicle, as determined by the insurance company. This can help protect the consumer from owing more money on the vehicle than it is worth. GAP coverage is typically an optional add-on to a car insurance policy, and the cost may vary depending on factors such as the value of the vehicle and the length of the loan.
*All potential loan interest rate adjustments/discounts will be assessed during the loan application process, please see loan rates & more section for a full list of applicable loan discounts and credit score grades.
* All loans are subject to credit approval. This is based on your associated credit score and various other factors. Interest rates are based on credit history and underwriting factors. Program, rates, terms and conditions are subject to change without notice. Restrictions and limitations may apply. First NRV Credit Union reserves the right to amend these loan rates & lending services at any time. Interest rates on individual loan accounts are dependent on credit score and other factors. Interest rate discounts are not guaranteed for all loan applicants. Please call 540-639-0885 to learn more about our loan discount requirements. First NRV Credit Union’s NMLS #1448213 .