Used Car Loans
Turn the key with our used car loans.
Hit the road in your “new-to-you” car with Call Federal by your side
Looking for a reliable, affordable car? Call Federal is here to help you drive away with confidence, offering flexible options and exceptional service every step of the way
Great Rates
Get the best deal on your next car with our competitive used car loan rates.*
Check-In-Hand Program
Walk into any dealership with confidence, pre-approval check in hand, and drive out with your dream car.
No Payment for up to 60 Days
We’ll give you plenty of time to work your new car payment into your monthly spending plan.**
Free Skip-A-Pay
You can choose to skip one monthly payment for FREE when requested within the first 18 months of accepting your loan.***
Resources For Every Step
Protect Your Investment
In collaboration with our partners, we offer valuable payment protection such as Guaranteed Asset Protection Plus and Mechanical Repair Coverage. We also offer solutions such as Debt Protection and Car Insurance.
Easy Payments
Make payments online, by check, over the phone, at your local branch, or by automatic transfer.
Expert Know-How
We’re here to help with every step of your loan application and used car purchase.
Rates
|
Term |
APR* |
|---|---|
|
*APR= Annual Percentage Rate. All loans subject to approval. Not all will qualify for approval. Of those approved, not all will qualify for the lowest rate. Rates, terms, and conditions are subject to change and may vary based on creditworthiness, qualifications, and collateral conditions. Lowest rate listed assumes top tier credit and all available discounts with our Discount Program. Rates Effective Date: February 1, 2025. |
|
|
Term Up to 36 months |
APR* 5.24% |
|
Term 37 – 48 months |
APR* 5.24% |
|
Term 49 – 60 months |
APR* 5.24% |
|
Term 61 – 72 months |
APR* 5.74% |
|
Term 73 – 84 months |
APR* 6.24% |
| Product | Term (months) | APR | Amount | Payment (mos) |
|---|---|---|---|---|
| New Vehicle | 72 | 5.49% | $45,000 | $737 |
| Used Vehicle | 60 | 5.74% | $25,000 | $482 |
| Leisure Vehicle | 60 | 7.00% | $10,000 | $199 |
| Leisure Vehicle (Boat) | 60 | 8.75% | $15,000 | $311 |
| Recreational Vehicle | 60 | 7.50% | $25,000 | $503 |
| Personal Loan | 36 | 9.75% | $5,000 | $162 |
Rate Discount Program
Good deeds mean great discounts at Call Federal.
Members who have originated a consumer loan (personal, vehicle, or leisure) within the last 7 years or have been with the credit union for 10+ years are eligible for a Loyalty discount of .50%
Education discount of .50% for completing one of the qualifying courses available in our Money & Beyond Program and providing the certificate of completion at loan application. Contact us for more details.
Automatic transfer discount of .25% for members who set up an auto transfer payment from a Call Federal checking account. If the member receives this discounted rate but discontinues the auto transfer service, the loan rate can be automatically be adjusted accordingly.
Our rate discount program is made up of three options. Loyalty discount of .50% with Call Federal loan origination within the last 7 years or membership history of 10 years or more. Education discount of .50% for completing one of the qualifying courses available in our Money & Beyond Program and providing the certificate of completion at loan application. Automatic transfer discount of .25% for members who set up an auto transfer payment from a Call Federal checking account. If the member receives this discounted rate but discontinues the auto transfer service, the loan rate can be automatically adjusted accordingly. The two discounts for .50% cannot be combined. max rate discount of .75%. All of these discounts are only available at the time the loan is processed.
Run your numbers
Use our free calculators to find the numbers you need for your next ride.
Need a little more information?
Why choose a Call Federal car loan?
At Call Federal, we exist to serve our members, not outside stockholders. This allows us to offer our members in the Greater Richmond metro area lower rates on loans, higher rates on deposits, and fewer fees. Plus, we provide a streamlined, hassle-free car-buying experience!
Here’s what makes a Call Federal car loan stand out:
- Not-for-Profit Benefits: As a credit union, we pass our revenue back to you, delivering better value.
- Better Rates, Lower Fees: Enjoy competitive loan rates, no fees, or lower fees on select accounts.
- Personalized Support: We listen to your story and work with you to improve your credit and secure the financing you need.
- Clear Communication: We make it easy to understand all terms, conditions, and any restrictions that may apply.
Contact us today to explore how we can help you and your family secure an affordable payment plan and drive away in the perfect car for your busy lifestyle!
Call Federal offers 3 free CARFAX® vehicle history reports for our members with a car loan in the works. Submit this form and our team will provide you with what you need.
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At Call Federal Credit Union, there are three ways to apply for a car loan: an online application, by phone when you call 804.274.1200, or in person at your local branch.
Many experts suggest putting at least 20% down on a new car and 10% on a used one—similar to a mortgage. Paying more upfront can reduce your monthly payments in the future.
Yes. GAP covers the difference (or “gap”) between the amount you owe on your car loan and the car’s actual cash value in the event of a total loss or stolen. Ask your Loan Consultant for more details.
Selecting the right loan term for your car loan depends on your financial goals and monthly budget. Here’s a breakdown to help you decide:
Shorter Terms:
- Benefits: Lower interest rates and less total interest paid over the life of the loan.
- Considerations: Higher monthly payments, which may require a more flexible budget.
- Best for: Borrowers who want to save on interest and pay off the loan faster.
Longer Terms:
- Benefits: Lower monthly payments, making it easier to manage your budget.
- Considerations: Higher interest rates and more total interest paid over time.
- Best for: Borrowers looking for smaller monthly payments and more financial flexibility.
While Call Federal offers terms up to 84 months, choosing a term of 72 months or less can save you money on interest. Your credit score, loan-to-value ratio (LTV), and the car model you choose may also impact the available terms.
Contact us today for personalized guidance on selecting the loan term that’s best for you!
Call Federal Credit Union offers new and used car loans to our valued members in the Greater Richmond metro area. Here are a few of the highlights:
- Available for purchase of new or used cars and refinancing loans from other lenders.
- Get a competitive APR based on your credit history, vehicle age, loan term, and loan-to-value (LTV).
- Loan terms between 36 and 84 months (3 to 7 years).
- Rate Discount Program available up to 0.75%.
- Make payments by automatic transfer, online transfer, by check, or over the phone.
- Option to make no payments for 60 days.
Our members know that we are devoted to providing a practical car loan solution with exceptional service and expert know-how. It’s our mission.
We make it an easy ride
We keep the used car loan application process simple and straightforward.
Apply Online
Enter a few details into our secure online loan application.
Get Pre-Approved
We’ll offer you a loan amount with a likely rate for your chosen term.
Find a Car
With your financing ready, negotiate a great price for your car.
Apply Now
To apply for your used car loan, use the link below or visit a branch to get started.
We’re here to help!
Call Federal is here to help with your used car loan. Reach out to us today for more information and expert guidance to meet your needs.
Disclosures
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**First payment delay up to 60 days. Loan will continue to accrue interest. Deferring loan payment will extend the term of the loan.***Skip payment offer available for first skip payment within 12 months of loan origination. Conditions apply. Refer to the Skip-A-Pay Request Form for details.****Access to CARFAX Vehicle History report is subject to CARFAX consumer terms of use. Call Federal offers three free report with acceptance. Reports are intended for personal use only. Call Federal is not liable for accuracy of TrueCar and CARFAX reports. CARFAX is a registered trademark of CARFAX, Inc.