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

Carla Soto
Carla Soto
Updated 18 October 2023
Fact checked

Progressive Federal Credit Union auto loans overview

Progressive Federal Credit Union logo

Progressive Federal Credit Union provides vehicle loans with up to 100% financing options and flexible repayment plans. Moreover, qualified members may take advantage of no-cost loan protection insurance.

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

  • Minimum loan amount: Undisclosed.
  • Maximum loan amount: 100% financing.
  • Interest rates: As low as 4.50% APR.
  • Loan terms: Undisclosed.
  • Loan fees: Undisclosed.
  • Discounts: Undisclosed.

PROGRESSIVE FEDERAL CREDIT UNION AUTO LOAN OPTIONS

New and used auto loans

Progressive Credit Union offers up to 100% financing for new and used vehicles. Other than low interest rates, you may qualify for no-cost loan protection insurance and a $0 prepayment penalty.

Boat loans

You can also borrow up to 90% to finance boats. To know the rates and terms you qualify for, you can contact Progressive Federal Credit Union.

Progressive 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
Progressive Credit Union

Progressive Credit Union auto loan

Progressive 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 Progressive 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 Progressive Credit Union auto loan

Eligibility criteria

Progressive FCU doesn’t list the requirements for financing, but you should normally be:

  • At least 18 years old
  • A legal resident
  • A member of Progressive Credit Union
  • Employed or have a steady source of income

Other than meeting the basic criteria, it also helps to have an idea about the auto loan application process. This will guide you in your application before deciding on a loan offer.

How to join Progressive Federal Credit Union

You can join Progressive FCU if you meet one of the following criteria:

  • Employee or retiree of the U.S. Postal Service
  • A relative of a member

What you’ll need to have ready

Personal details

When you apply for auto financing with Progressive 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 Progressive FCU 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.

Make sure you inquire about the loan fees that the credit union may charge, too. Knowing the numbers can help you compare and weigh other options. This way, you can find a deal that will save you more over the life of the loan.

Ways to apply for a Progressive Credit Union auto loan

  • Apply online by clicking the GO TO SITE link in the table below
  • Visit a branch
  • Call 251-338-2092

Additional Progressive FCU auto loan details

  • Automatic payment: Available.
  • Rate discounts: Undisclosed.
  • Repayment frequency: Monthly.
  • Late payment fees: Undisclosed.
  • Prepayment penalty: None.
  • Co-borrowers allowed: Yes.
  • Co-signers: Undisclosed.
  • Hardship program: Undisclosed.
  • Ways to repay: Payroll deduction and by mail.

Vehicle restrictions and limitations

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

PROS AND CONS

Pros

  • Low interest rates.
  • No-cost loan protection for qualified members.
  • No prepayment penalties.
  • Convenient payroll deduction.
  • Up to 100% financing.
  • Available for new and used vehicles.

Cons

  • Members in poor credit standing may receive higher APRs.
  • Loan terms and fees undisclosed.
  • Limited information available online.

FREQUENTLY ASKED QUESTIONS

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

Auto loans start as low as 4.50% APR.

What is the maximum length of a Progressive Federal Credit Union car loan?

Progressive FCU doesn’t reveal the maximum term, but 100% financing of new vehicles is up to 60 months.

Will applying for an auto loan with Progressive Credit Union affect my credit score?

A formal application will lead to a hard credit check, which will appear on your credit report. This will then lower your credit score by a few points but only temporarily. To build your credit back up, make sure you meet your monthly payments.

How can I contact Progressive Federal Credit Union about my car loan?

You can reach out at 251-338-2092.

Can I repay my Progressive Federal Credit Union vehicle loan early?

Yes. You don’t need to worry about prepayment penalties if you pay off your car loan sooner.

How much do I qualify for with a Progressive FCU auto loan?

You may borrow up to 100% of new vehicles. Remember though that your maximum loan amount may depend on several factors, like your credit profile, collateral, etc.

How many pay slips does Progressive FCU require during my car loan application?

The credit union doesn’t disclose the requirements, but you typically need your 2 most recent pay stubs.

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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