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UMassFive College Federal Credit Union Auto Loan Calculator, Interest Rates & Overview

Carla Soto
Carla Soto
Updated 14 November 2023
Fact checked

UMassFive College Federal Credit Union auto loans overview

UMassFive College Federal Credit Union logo

UMassFive College Federal Credit Union offers vehicle loans with competitive interest rates, flexible payment options, and quick approval. Whether buying or refinancing, members can secure a range of new and used vehicles – cars, motorcycles, recreational vehicles, and more. Beyond these, UMassFive provides rate discounts, convenient auto-buying services, and optional auto insurance and coverage.

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

  • Minimum loan amount: Above $15,000 for terms over 66 months.
  • Maximum loan amount: Up to 125%.
  • Interest rates: As low as 6.24% APR.
  • Loan terms: Up to 84 months.
  • Loan fees: Undisclosed.
  • Discounts: Discounted rates based on Co-op Points.

UMASSFIVE COLLEGE FEDERAL CREDIT UNION AUTO LOAN OPTIONS

New and used auto loans

UMassFive Credit Union provides competitive loans for purchasing and refinancing vehicles. Whether you’re up for a new or pre-owned model or refinancing your current loan, rates start at 6.74% APR. Plus, you can lower your rate to 6.49% APR with 2,500 Co-op Points or 6.24% APR with 5,000 points.

Motorcycle loans

You can also finance up to 100% of new and used motorcycles. Interest rates go as low as 6.99% APR, including discounts. Additionally, you can pay your loan for up to 60 months.

Recreational vehicle loans

If you want to hit the open road, UMassFive can help you, too. You can finance up to 90% of pre-owned and new truck campers, camping trailers, motor homes, and travel trailers. Including discounts, rates begin at 6.99% APR, and loan terms are up to 60 months.

UMassFive College 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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UMassFive College Federal Credit Union

UMassFive College Federal Credit Union auto loan

UMassFive College 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 UMassFive College 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 UMassFive auto loan

Eligibility criteria

Though UMassFive College Federal Credit Union doesn’t disclose the exact criteria, you usually need to be:

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

Besides meeting the general requirements, try to build your credit standing and lower your debt-to-income ratio (DTI). A high credit score and low DTI ratio can help you show lenders that you can responsibly manage your debts. So, they may be more willing to extend more ideal rates and terms.

How to join UMassFive College Federal Credit Union

UMassFive membership is open to anyone who meets one of the following criteria:

  • Family or household members of UMassFive members
  • Employees, students, and members of organizations UMassFive serves

What you’ll need to have ready

Personal details

When you apply for auto financing with UMassFive College 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 UMassFive 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.

If you can, consider making a down payment, too. This will lower the amount you need to borrow and your overall interest payments. In turn, you can save more over the life of your loan.

Ways to apply for a UMassFive auto loan

  • Apply online by clicking the GO TO SITE link in the table below
  • Visit a branch
  • Call 413-256-5500 or 800-852-5886

Additional UMassFive Credit Union auto loan details

  • Automatic payment: Available.
  • Rate discounts: Up to a 0.50% APR discount depending on your Co-op Points.
  • Repayment frequency: Monthly.
  • Late payment fees: Undisclosed.
  • Prepayment penalty: None.
  • Co-borrowers allowed: Yes.
  • Co-signers: Undisclosed.
  • Ways to repay: Online banking, mobile banking, and over the phone.

Vehicle restrictions and limitations

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

PROS AND CONS

Pros

  • Competitive rates.
  • Longer loan terms.
  • Up to 125% financing.
  • No prepayment penalty.
  • Up to 0.50% rate discounts based on Co-op Points.
  • Pre-approval available.
  • Stress-free auto-buying services offered.
  • Convenient online application.
  • Purchase and refinance available.
  • Optional GAP insurance, extended auto warranties, and auto insurance available.

Cons

  • Membership required.
  • Undisclosed loan fees.
  • $15,000 minimum loan for terms over 66 months.
  • Unspecified vehicle requirements.

FREQUENTLY ASKED QUESTIONS

How to apply for an auto loan at UMassFive College Federal Credit Union?

You can apply for vehicle financing online, over the phone, or in a branch office.

How much interest does UMassFive charge on car loans?

New and used auto loans start at 6.24% APR, including a maximum 0.50% discount through Co-op Points.

What is the maximum length of a UMassFive Credit Union vehicle loan?

UMassFive offers car loans with terms of up to 84 months.

Are there discounts available on UMassFive car loans?

You can get a 0.25% interest rate discount with 2,500 Co-op Points and 0.50% APR off with 5,000 Co-op Points.

Are there early repayment fees on UMassFive Credit Union auto loans?

None. The credit union doesn’t charge prepayment penalties when you pay off your loan sooner.

How long does UMassFive Credit Union take to approve car loans?

In most cases, UMassFive can give loan decisions within the same day. Remember though that it may vary if you need more documents.

Video: UMassFive new member welcome

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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