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Important note: In the aftermath of Hurricane Helene, MIT FCU is here to help. If you have been affected by the storm and need support, please get in touch with Member Services at (781) 423-2022 or email us at info@mitfcu.mit.edu.

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Get prequalified on an Auto Loan

Hit the road in the ride you want with rates you'll love.

Apply now

Where will you go with an auto loan from MIT FCU?

An auto loan from MIT FCU provides the confidence needed to get the deal you want. You'll know your rate and term ahead of time and can negotiate with all the facts in mind. We put you in charge when it comes to financing a new70 or used vehicle. 

Rates as low as

5.75% APR1

  • Low, fixed rate and term
  • 100% financing may be available
  • APR discount available
  • No service fees or prepayment penalty

Apply now

Auto Loan Rates
Effective Date: Thursday, October 3rd, 2024
ProductTermAPR1Estimated Monthly Payment per $1000Apply Now
New/Used Auto Up to 60 Months 5.75% $20.16 Apply now
  72 Months 6.50% $17.66 Apply now
  84 Months 7.75% $16.22 Apply now
  96 Months 8.75% $15.97 Apply now

 

What we offer

Low fixed-rate/term

  • We offer competitive rates and terms based on your credit score. Apply now and save.

APR discounts

  • Automatically qualify for APR1 discounts when you set up automatic loan payments. Hybrid/electric vehicles qualify for additional discounts.

Additional benefits

  • 100% financing may be available
  • No service fees or prepayment penalty
 

Will you owe more on your vehicle loan than your vehicle is worth?

MEMBER'S CHOICE® Guaranteed Asset Protection (GAP) Coverage pays the difference between your insurance settlement and your auto loan's outstanding balance if your car is stolen or totaled in an accident.

Get GAP today so you can worry a little less about tomorrow.

Get started

Auto Buying Center

 

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Search for Your New or Used Vehicle

New and Used Vehicle Resources

What would my auto payments be?

Many factors go into determining the final loan amount for the purchase of a new or used vehicle. These factors include any manufacturer's rebate, the trade-in value of your old vehicle less any outstanding balance, your down payment, etc. Once the loan amount is determined the interest rate and the term of the loan will be used to estimate your vehicle payment.

Loan Amount

Assumptions

The Credit Union Difference

We are not a bank, and that's an advantage for our members. As a credit union member, here's how you benefit.

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At credit unions, members are owners; we answer to them, not investors. Each member has equal ownership.

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Thanks to the CO-OP branch network, you can access over 30,000 fee-free ATMs and over 5,000 branch locations nationwide.

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Credit unions are not-for-profit cooperatives that give back to their members with great savings rates and lower loan rates.

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Throughout the history of U.S. credit unions, taxpayer funds have never been utilized to rescue a credit union.

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Credit union deposits are insured up to $250,000 by the National Credit Union Administration (NCUA), a federal government agency.

Financial Wellness

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Auto Expenses - And We Don't Mean the Loan Payment

There's nothing like the smell of a new car. There's also nothing like unexpected expenses.

Continue reading
car dealership
All You Need to Know About Auto Loans

If you’re in the market for a new car or truck, you’re likely also shopping for an auto loan. 

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Navigating the Current Auto Loan Market

Here’s what you need to know about the current auto loan market and how to navigate it successfully.

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Bank when and where you want.

With mobile and online banking, two convenient branches on campus, access to over 30,000 ATMs, and 5,000 branches nationwide.

Download our highly rated mobile app!4

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FAQs

FAQs - Vehicle Lending