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Primeway Federal Credit Union Auto Loan Calculator, Interest Rates & Overview

Carla Soto
Carla Soto
Updated 17 October 2023
Fact checked

Primeway Federal Credit Union auto loans overview

Primeway Federal Credit Union logo

Primeway Federal Credit Union serves members across Houston, Fort Bend, Washington, and Harris. Primeway offers low-rate new and used auto financing with flexible repayment options. Moreover, members can apply for motorcycle, boat, watercraft, and other recreational vehicle loans.

Want to see what a Primeway auto loan will cost? Try the Primeway 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 Primeway Federal Credit Union auto loan features

  • Minimum loan amount: $10,000 for up to 60 months, $15,000 for up to 72 months, and $35,000 for up to 84 months.
  • Maximum loan amount: Undisclosed.
  • Interest rates: As low as 4.50% APR.
  • Loan terms: From 36 months to 84 months.
  • Loan fees: Undisclosed.
  • Discounts: Undisclosed.

PRIMEWAY FCU AUTO LOAN OPTIONS

New and used auto loans

Whether you want a new or pre-owned car, Primeway has affordable auto loans with payment terms of up to 84 months. Interest rates begin as low as 4.50% APR for 2016 to 2023 models. Plus, you can refinance your existing car loan to lower your rate and monthly payments.

Payment Saver auto loan

Primeway’s Payment Saver Auto Loan can also help you get lower payments compared to traditional auto loans but still own the vehicle. You can choose from mileage options of 12,000, 15,000, and 18,000 per year. Moreover, you have the option to sell, trade, refinance, or pay off the loan at any time.

Motorcycle loans

Motorcycle loans are offered at Primeway, too. Rates begin as low as 6.50% APR, and terms can be up to 72 months.

Boat, watercraft, and recreational vehicle loans

If you’re going on an adventure, you can also finance boats, watercraft, and recreational vehicles. Interest rates start at 6.35% APR, and you can stretch your payments for up to 144 months.

Primeway Federal Credit Union auto loan calculator

Provider
Product Information
EST Monthly
Repayment
Interest
Rate
Repayment
Period
Loan
Amounts
Sort loans by

Loan Amount

$25,000

Term

60 months

Change
PrimeWay Federal Credit Union

PrimeWay Federal Credit Union auto loan

PrimeWay 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 PrimeWay 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 Primeway auto loan

Eligibility criteria

Primeway FCU doesn’t disclose the auto financing standards, but you should normally be:

  • At least 18 years old
  • A legal resident
  • A member of Primeway
  • Employed or have a dependable source of income

Consider building good credit and lowering your debt-to-income ratio (DTI), too. Financial institutions use these numbers to determine the rates you qualify for. So, a high credit score and a low DTI ratio will help with your application.

How to join Primeway Federal Credit Union

Membership is open to anyone who:

  • Lives, works, worships, or attends school in Houston, Washington, Fort Bend, or Harris
  • Works at one of Primeway’s partner employers
  • Is a family member of a Primeway member

What you’ll need to have ready

Personal details

When you apply for auto financing with Primeway 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 Primeway 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.

It also helps to gain insights into the auto loan application process. This will help you navigate the steps easier, negotiate better, and improve your chances of securing credit.

Ways to apply for a Primeway auto loan

  • Apply online by clicking the GO TO SITE link in the table below
  • Visit a branch
  • Call (713) 799-6200

Additional Primeway FCU auto loan details

  • Automatic payment: Available.
  • Rate discounts: Undisclosed.
  • Repayment frequency: Monthly.
  • Late payment fees: Undisclosed.
  • Prepayment penalty: Undisclosed.
  • Co-borrowers allowed: Yes.
  • Co-signers: Undisclosed.
  • Hardship program: Skip-a-pay available. (Learn more)
  • Ways to repay: Online banking, mobile banking, and automatic transfers.

Vehicle restrictions and limitations

  • Maximum vehicle age: 2016.
  • Maximum vehicle mileage: Undisclosed.
  • Other vehicle restrictions: Undisclosed.

PROS AND CONS

Pros

  • Low interest rates.
  • Flexible repayment terms.
  • No payment for 90 days.
  • Online application available.
  • Pre-approval offered.
  • Convenient auto-buying services.
  • Purchase and refinance offered.
  • Co-applicants allowed.
  • Payment saver auto loan available.
  • Multiple vehicles allowed – cars, motorcycles, recreational vehicles, ATVs, boats, and watercraft.

Cons

  • Exclusive to members.
  • Members in poor credit standing may get higher rates.
  • Loan fees undisclosed.
  • Vehicle restrictions unspecified.

FREQUENTLY ASKED QUESTIONS

How much interest does the Primeway FCU charge on auto loans?

2016 to 2023 models start as low as 4.50% APR.

What is the maximum term of a Primeway Federal Credit Union car loan?

Auto loan payments can be up to 84 months.

Does Primeway Federal Credit Union refinance auto loans?

Yes. You can transfer your existing loan to Primeway to take advantage of its competitive interest rates.

Will applying for an auto loan with Primeway affect my credit score?

Submitting a formal application will result in a hard credit check, which will appear on your credit report. So, this will temporarily lower your credit score by a few points. You can improve your score by consistently meeting your monthly payments.

How long does a Primeway auto loan take to be approved?

You can get approved for auto financing within 24 hours.

Video: PrimeWay Federal Credit Union – Live positively

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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