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CEFCU Auto Loan Calculator, Interest Rates & Overview

Carla Soto
Carla Soto
Updated 13 October 2023
Fact checked

A quick review of Citizens Equity First Credit Union auto loans

Citizens Equity First Credit Union logo

Citizens Equity First Credit Union (CEFCU) offers a range of perks to its 360,000+ members. From new and used cars to jet skis and RVs, CEFCU has a variety of low-cost auto loans with up to 100% financing. Plus, the Credit Union provides affordable refinancing choices to help you save money over the life of the loan.

Want to see what a CEFCU auto loan will cost? Try the Citizens Equity First Credit Union auto loan calculator below! All you have to do is enter your desired loan amount and term to see an estimate. You can use the calculator to adjust your loan amount and term to see how it might affect your monthly repayments.

Key Citizens Equity First Credit Union auto loans features

  • Minimum loan amount: Minimum loan of $10,000 for a 66-month term on 2021 and newer models.
  • Maximum loan amount: Up to 100% financing.
  • Interest rates: 5.19% APR for new auto loans, while models 2018 and older start at 5.54% APR.
  • Loan terms: 36 to 66 months.
  • Loan fees: No application fees.
  • Discounts: Lower interest rates for borrowers with less than 100% loan-to-value ratio (LTV).

Citizens Equity First Credit Union loan options

New and used vehicle loans

If you’re looking to finance new vehicles (2021 and newer), you can lock in rates as low as 5.19% APR. In addition, you can stretch your terms to up to 66 months. For model years 2019-2020, rates can start at 5.34% APR. Then, APRs can be as low as 5.54% for 2018 models. If you want to purchase 2015 models and older, you may expect rates to start at 9.24% APR.

Recreational vehicle loans

Members can also choose from a range of recreational vehicles. For as low as 7.19% APR, you can secure new RVs, campers, boats, jet skis, and motorcycles. But if you’re on the lookout for older models, 2017-2020 RVs and motorcycles have rates starting at 7.49% and 7.99% respectively.

Citizens Equity First Credit Union auto loan calculator

Provider
Product Information
EST Monthly
Repayment
Interest
Rate
Repayment
Period
Loan
Amounts
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Loan Amount

$25,000

Term

60 months

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Citizens Equity First Credit Union

Citizens Equity First Credit Union auto loan

Citizens Equity First Credit Union auto loan
Estimated Month Repayments
$595 Inclusive of fees
Interest Rate
15.00%
APR
Repayment Period
12 months
to 72 months
Loan Amounts
$5,000
to $100,000
GO TO SITE
Get a low interest rate Citizens Equity First Credit Union auto loan
Featured
Achieva Credit Union

Achieva - New Auto Loan

Estimated Month Repayments
$437 Inclusive of fees
Interest Rate
1.89%
APR
Repayment Period
12 months
to 84 months
Loan Amounts
$5,000
to $100,000
GO TO SITE
Low fixed interest rates. Flexible terms. Same-day approvals. No hidden fees.
Featured
Bank of America

Bank of America auto loan

Estimated Month Repayments
$595 Inclusive of fees
Interest Rate
15.00%
APR
Repayment Period
12 months
to 72 months
Loan Amounts
$5,000
to $100,000
GO TO SITE
Get a low interest rate Bank of America auto loan

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Minimum and maximum loan periods vary between 1 month and 10 years. Annual Percent Rates (APR) vary between 4.99% and 35.99% p.a. Total interest repayments vary between $592 and $916 over the life of the loan. *APR is based on an unsecured loan of $20,000 over a term of 3 years. WARNING: This APR is true only for the examples and may not include all charges. Different terms, fees or loan amounts might result in a different APR. These rates can change without further notice.

How to apply for a CEFCU auto loan

Eligibility criteria

Though CEFCU doesn’t specify the criteria, you typically need to be:

  • A member of Citizens Equity First Credit Union
  • 18 years old or older
  • Employed or have a steady source of income

How to join CEFCU

To become a Citizens Equity First Credit Union member, you need to meet at least one of the following:

  • Live or work in select Illinois counties
  • Live, work, or worship in Alameda, Contra Costa, or Santa Clara counties in California
  • An employee or retiree of CEFCU or its partner companies
  • An employee or retiree of Caterpillar Inc. or its subsidiaries or dealerships
  • An immediate family member of someone eligible to join CEFCU
  • In a household that includes someone eligible to join CEFCU
  • A spouse of a member who has passed away.

What you’ll need to have ready:

When you apply for auto financing with CEFCU, you’ll be asked to provide personal information such as:

  • An email address
  • Your full name
  • Address
  • Social Security number
  • Employment information
  • Income details
  • U.S. citizenship status
  • A list of monthly expenses

You may need to provide Citizens Equity First Credit Union with additional documents to complete your loan request. These documents may include a purchase agreement or bill of sale, car registration and title, instructions for buying out a lease, proof of income (such as federal tax returns and W-2s), and financial statements.

In terms of refinancing an existing auto loan from another lender, you also need to provide certain vehicle details. These include the year, make, model, type, mileage, and vehicle identification number (VIN). Plus, you need a Power of Attorney form in Illinois if the vehicle you purchase is currently financed.

Ways to apply for a Citizens Equity First Credit Union auto loan:

  • Apply online by clicking the GO TO SITE link in the table below
  • Visit a branch
  • Call 800-858-3400

Additional CEFCU auto loan details

  • Automatic payment: Available.
  • Loan approval times: Undisclosed. Though generally, credit unions may take a few minutes to a few weeks based on your situation.
  • Rate discounts: Potential lower rates for members with high credit scores.
  • Repayment frequency: Monthly.
  • Late payment fees: Undisclosed.
  • Prepayment penalty: $0.
  • Co-borrowers allowed: Undisclosed.
  • Co-signers: Undisclosed.
  • Ways to repay: Online banking, automatic transfers, over the phone, by mail, and in person.
  • Hardship program: Undisclosed.

Vehicle restrictions and limitations

  • Maximum vehicle age: Unspecified.
  • Maximum vehicle mileage: Unspecified.
  • Other vehicle restrictions: Unspecified.

Pros and cons

Pros

  • Up to 100% financing.
  • Competitive interest rates as low as 5.19%.
  • No application fees and prepayment penalties.
  • Pre-approval available online.
  • Different vehicles types – new and used cars, RVs, boats, campers, jet skis, and motorcycles.
  • Multiple ways to pay – online, over the phone, by mail, and in person.
  • Discounted auto insurance for CEFCU members.

Cons

  • Limited to members.
  • Undisclosed vehicle requirements and late fees.
  • Not applicable to internal refinancing.
  • Low credit scores may result in higher rates.

Frequently asked questions

What are CEFCU’s auto loan rates?

CEFCU’S lowest rate is 5.19% APR. But remember that all applications are subject to credit approval. Your auto loan rates are based on your LTV and overall financial situation.

Are there early repayment fees on Citizens Equity First Credit Union vehicle finance?

No. CEFCU auto loans can be paid early without incurring prepayment penalties.

Can I apply for a CEFCU auto loan online?

You can submit your loan application online and take advantage of getting pre-approved to make your car-buying experience easier. Alternatively, you can check branch addresses and schedule an appointment.

How do I pay my CEFCU auto loan?

You can pay your vehicle loan through online banking, automatic transfers, over the phone, by mail, and in cash.

Does Citizens Equity First Credit Union refinance auto loans?

CEFCU only refinances existing auto loans from other lenders.

How can I contact CEFCU about my vehicle finance?

You can reach CEFCU’s member center at 800-542-3328 or email them at [email protected].

What is the maximum length of a Citizens Equity First Credit Union car loan?

You can finance your vehicle for up to 66 months.

Video: Car buying tips

Carla Soto
Carla Soto

Carla is a skilled copywriter at BestFind with a background in marketing and communications. She specializes in reviewing personal loan and finance products to help readers navigate the complex world of personal finance.

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