Car Loan Refinance

We would love the opportunity to save you money on your car loan rate and payment with another lender.

Why Call Federal? – Benefits of a Credit Union Auto Refinance

Lower Rates

Get pre-approved and see if we can offer you a lower rate than your current lender.

Better Payments

Choose a new loan term from 36 to 84 months to match your budget and goals.

Range of Vehicles

You can refinance just about any vehicle provided it’s 10 years old or newer.

Local Service

We’ll continue to service your loan right here in Richmond so you know who you’re paying.

Rates for an Auto Refinance in Richmond

Call Federal has been offering our members competitive auto loan rates since 1962. You may qualify for a lower rate than your existing auto loan if your credit improves, you choose a shorter term, or market rates drop. See our range of rates and compare them with what you’re currently paying.

Auto Loan Rates

Rates/APR Maximum Loan Term
New or Newer Used Vehicle
(2020-Newer models)
4.99%* – 14.49% 84 months
(7 years)
Used Vehicle
(2015 or Newer models)
5.49%* – 15.24% 84 months
(7 years)

How to Apply for an Auto Refinance from a Credit Union


Apply Online

Use our simple, secure online portal to provide your details and information about your existing auto loan.

Step 2

Compare Offer

We’ll offer you a new loan amount and rate for your chosen term and you can decide if a refinance makes sense.

Step 3

We Pay Off Your Loan!

Call Federal will pay your current lender directly for you and then you can start making your new, improved payments.



“I went in to refinance my car and had a great experience. I had a recent name change which made my credit a little messy. Will was extremely patient and guided me through the steps I need to take to get approved for the loan, ultimately saving me a bunch of money. He was knowledgeable, clear and non-judgemental. Traits that are very important to me when doing business with someone.”

Lena D., Mechanicsville, VA

Auto Refinance Tips and Tricks


What Will My Interest Rate Be?

Interest rates have a big impact on your monthly payment and your total cost of borrowing. Find out how you can get the lowest possible rates.

Weighing the Pros & Cons of Auto Refinancing

A refinance may get you a lower rate and save on total interest, but you need to make sure the benefits work out in your favor.

Can You Refinance A Car Twice?

The simple answer is, yes. There may be times when a second refinance can work in your favor. Just be sure to consider your options before you apply!


How You Can Gain From a Car Refinance With a Credit Union

There are a few scenarios when refinancing makes sense. Maybe you decide you can pay a little more to own your car more quickly, or maybe you need a lower payment to free up some cash.

Whatever the reason for your car loan refinance, Call Federal’s team of savvy lending specialists will make sure you get the best option for your financial goals.

  • Available to refinance your auto loan from another lender.
  • No fees to refinance.
  • Find out if you can get a lower APR* and save on total interest.
  • Keep your current remaining loan term or choose a new term for a different payment.
  • Loan terms can be 36 to 84 months.
  • Vehicle must be 10 years old or newer.
  • Rate discounts available up to 0.75%:
    • 0.50% Loyalty Discount
    • 0.50% Education Discount
    • 0.25% Automatic Transfer Discount
  • Make payments by automatic transfer, online transfer, by check, or over the phone.
  • Option to make no payments for 60 days.**

A couple applying online for an auto loan refinance.

FAQ About Call Federal Credit Union Auto Refinance

Auto loan refinancing involves getting a new auto loan to pay off your existing auto loan. Here are the simple steps you may follow:

  • Consider why you want a refinance (lower rate, shorter term with a higher payment, longer term with a lower payment, don't like your current lender, etc.)
  • Get pre-approved so you can compare your current car loan with the new rates and terms available.
  • Agree to the terms and sign your contract.
  • Your new lender contacts your current lender and pays off your old loan in full on your behalf.
  • You start making new loan payments to your new lender.

There are several good reasons to choose an auto refinance and a few situations where you might want to stick with what you've got. Here are some ideas to consider:

  • You may qualify for a lower interest rate if your credit has improved, but you also need to consider if market rates have gone up since you took out your loan. The difference may not be significant.
  • You may get a lower rate if you choose a shorter term, but your payment will likely go up. This is a good option if you have extra income and want to pay off your loan sooner and save on interest.
  • If money is tight, you may want to extend your loan term so you can get a lower monthly payment. Even if rates have gone up, it's better than defaulting on your loan or feeling short each month.
  • The best rates and terms are subject to credit approval so you want to make sure you qualify for a lower rate than your existing rate before you sign the contract.
  • If you're near the end of your loan term, it may not be worth the paperwork and possible fees to refinance your auto loan.

Credit unions exist to serve their members, not outside stockholders. For Call Federal, that means we can offer lower rates on loans, higher rates on deposits, and fewer fees to our members in the Greater Richmond metro area. We also offer a streamlined car-buying experience!

  • We can pass our revenue back to you because we're not-for-profit.
  • You get better rates and lower fees – or no fees on certain accounts.
  • We can listen to your story, go over your credit report, and work with you to improve your credit score so you can get the financing you need.
  • We can help explain all terms and conditions and if any other restrictions may apply.
Please contact us to find out how we can help you and your family get a better car loan than you have with your existing lender. Let's find a payment that matches your goals and saves on interest!

Product Term (months) Rate Amount Payment
New Vehicle 72 6.49% $45,000 $759
Used Vehicle 60 6.49% $25,000 $491
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

*APR = Annual Percentage Rate. APR listed assumes 2020 or newer vehicle with a 36-month term, 115% loan-to-value (LTV), top-tier credit, and maximum rate discount of .75% with Call’s Rate Discount Program. All discounts are only available at the time the loan is processed. Current vehicle loan rates range from 4.99% – 15.24% APR. Rates subject to change but will not exceed 18.00%. Not all will qualify for the lowest rate. Vehicle must be a 2015 or newer. Refinance offer not valid on existing Call Federal loans. Income and insurance verification required. Loan will still accrue interest with no payments for 60 days. Other restrictions and conditions may apply. **Loan will still accrue interest with no payments for 60 days.