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Michigan State University Federal Credit Union Auto Loan Calculator, Interest Rates & Overview

Carla Soto
Carla Soto
Updated 10 October 10
Fact checked

Michigan State University Federal Credit Union auto loans overview

Michigan State University Federal Credit Union logo

Michigan State University Federal Credit Union (MSUFCU) has competitive auto financing options for purchasing, refinancing, and leasing. Members can choose loans for a variety of used and new vehicles. These include autos, recreational vehicles, boats, motorsports, and motorcycles.

Want to see what an MSUFCU auto loan will cost? Try the Michigan State University Federal 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 Michigan State University Federal Credit Union auto loan features

  • Minimum loan amount: Undisclosed.
  • Maximum loan amount: Up to the NADA Clean retail value for new and used auto loan purchases.
  • Interest rates: From 7.09% APR.
  • Loan terms: Up to 84 months.
  • Loan fees: No application fee.
  • Discounts: Undisclosed.

MSU FEDERAL CREDIT UNION AUTO LOAN OPTIONS

New and used auto loans

You can purchase or refinance through MSUFCU’s competitive auto loans. The starting interest rate is 7.09% APR, and loan terms can stretch up to 84 months. In addition, you can take advantage of $0 application fees and prepayment penalties.

Auto lease

For lower repayments, you can also lease a vehicle. With this option, you can secure payments that are usually 25-40% less per month. Moreover, you can opt for shortened terms and customized annual mileage from 7,500 miles per year.

Recreational vehicle and boat loans

If you’re after boats, 5th wheelers, motorhomes, travel trailers, and campers, you can finance one through MSU Credit Union. Rates start at 8.240% APR, and you can make your loan payment for up to 180 months. Remember though that park model RVs and commercial vehicles are ineligible.

Motorsport and motorcycle loans

You can apply for loans for motorcycles less than 600cc, personal watercraft, ATVs, snowmobiles, lawn and garden tractors, and untitled watercraft, too. New and used motorsport vehicles start as low as 7.140% APR with terms of up to 84 months. But if you want a motorcycle with 600cc or greater, rates begin at 7.090% APR.

Business auto loans

Business vehicle loans are also available at MSUFCU. Commercial vehicles start at 8.090% APR, and repayment terms are up to 84 months. However, this offer is only available to Michigan businesses, and collateral should be located in Michigan.

Michigan State University Federal 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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Michigan State University Federal Credit Union

Michigan State University Federal Credit Union auto loan

Michigan State University Federal 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 Michigan State University Federal 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 Michigan State University Federal Credit Union auto loan

Eligibility criteria

Though MSU Federal Credit Union doesn’t disclose the requirements, you should typically be:

  • 18 years old or older
  • An MSUFCU member
  • A legal resident
  • Employed or have a dependable source of income

Make sure you’re eligible for vehicle financing to get approved for an auto loan. To boost your luck with low rates and flexible terms, try to build your credit, too. Each financial institution normally offers the best deals to applicants with excellent credit.

How to join MSU Credit Union

Membership is open to:

  • Michigan State University faculty, staff, students, alumni, or donors and their immediate family members
  • Desk Drawer Fund donors
  • Select employee and community groups
  • Employees of the State of Michigan
  • Members of a Registered Student Organization (RSO)

What you’ll need to have ready

Personal details

When you apply for auto financing with Michigan State University Federal Credit Union, 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

Documents

You may need to provide MSUFCU 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.

You need to give more documents before MSU Federal Credit Union releases a cashier’s check, too. So, prepare the dealership or seller’s name and contact details. Plus, you need details about the vehicle, like the vehicle identification number (VIN), year, make, model, color, and mileage.

Ways to apply for an MSGCU auto loan

  • Apply online by clicking the GO TO SITE link in the table below
  • Visit a branch
  • Call 800-678-4968

Additional Michigan State University Federal Credit Union auto loan details

  • Automatic payment: Available.
  • Loan approval times: Pre-approval in as little as 10 minutes. Loan decisions within 1-2 business days.
  • Repayment frequency: Monthly.
  • Late payment fees: Undisclosed.
  • Prepayment penalty: $0.
  • Co-borrowers allowed: Yes.
  • Co-signers: Undisclosed.
  • Ways to repay: Online banking, mobile app, autopay, and by mail.

Vehicle restrictions and limitations

  • Maximum vehicle age: No age limitations.
  • Maximum vehicle mileage: Undisclosed.
  • Other vehicle restrictions: Undisclosed.

PROS AND CONS

Pros

  • Quick loan approval.
  • No application fees and prepayment penalties.
  • Convenient online and over-the-phone applications.
  • Long repayment periods.
  • Online pre-approval available.
  • No vehicle age limitations.
  • Auto purchase, refinance, and lease allowed.
  • Loans available for new and used cars, motorhomes, 5th wheels, travel trailers, campers, boats, motorcycles, snowmobiles, ATVs, and more.
  • Optional GAP insurance offered.
  • Co-borrowers allowed.

Cons

  • Limited to members.
  • Undisclosed minimum loan amount.
  • Poor credit standing may lead to higher interest rates.

FREQUENTLY ASKED QUESTIONS

How long does an MSUFCU auto loan take to be approved?

You can get pre-approved in as little as 10 minutes. Then, loan approval may take 1-2 business days depending on your application.

What is the maximum term of an MSU Federal Credit Union car loan?

You can make your auto loan payments for up to 84 months.

How much do I qualify for with an MSU Credit Union car loan?

To determine how much you can borrow, MSU Federal Credit Union will review several factors. These may include your credit profile, payment history, monthly budget, and MSU Credit Union standing.

How do I pay my MSU Credit Union auto loan?

You can pay your car loan through online banking, the mobile app, autopay, and mail.

Does MSU Credit Union refinance auto loans?

MSUFCU accepts existing auto loans from different lenders. If you’re refinancing your current MSUFCU auto loan, you need to have at least $1,000 available equity when you apply.

How to apply for an MSUFCU auto loan?

You can apply online, over the phone, through a chat with Fran, or in-person service.

Are the auto loans available in all 50 states?

Vehicle financing is available to all members who live or work in America.

Video: Let MSUFCU drive down your payment

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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