Let’s be real—buying a car is a big financial move. Whether it’s your first car or an upgrade, how you finance it matters just as much as the car itself. And if you’re considering an auto loan through America First Credit Union, you’re probably wondering if you’re really getting the best deal out there.
Auto loan rates can feel confusing, but this guide will walk you through everything—from what America First offers, how they compare to others, and what you can do to get the lowest rate possible. Let’s dig in and help you save some serious money.
America First Auto Loan Rates
The short answer? It depends. America First Credit Union is known for offering low-interest auto loans, especially to members with good credit. But “best deal” isn’t just about the number—it’s about the full picture.
You’ll want to look beyond the headline rate and think about the loan term, total repayment amount, and any fees involved. Sometimes a lower rate might come with hidden costs. Other times, slightly higher rates can be worth it if the loan terms are more flexible or better suited to your situation.
What Are the Current America First Auto Loan Rates?
As of now, America First’s auto loan rates start as low as 5.74% APR for new vehicles (with excellent credit), and slightly higher for used vehicles or longer terms. Of course, these rates can change over time, so it’s a good idea to check their website or call a local branch for the most up-to-date numbers.
Rates also vary depending on factors like your credit score, the age of the car, and how long you’re financing it. For example, shorter-term loans (like 36 months) often come with lower rates than 72-month loans. But shorter terms also mean higher monthly payments.
How Do America First Rates Compare to Other Lenders?
Compared to big banks and national lenders, America First usually holds its own—and often comes out ahead. Credit unions in general tend to offer lower interest rates than traditional banks because they’re not-for-profit and member-focused.
Let’s say a bank offers 7.99% APR on a 60-month loan, while America First is offering 6.49%—that difference adds up. Over the course of the loan, you could save hundreds (or even thousands) in interest by choosing the lower rate.
Of course, it still pays to compare. Online lenders like LightStream, Carvana, or Capital One might sometimes offer competitive promotions too.
Factors That Affect Your Auto Loan Rate
Your auto loan rate isn’t one-size-fits-all. Here are the key things that influence the offer you’ll get:
- Credit Score – The higher your score, the lower your rate. 700+ usually gets the best deals.
- Loan Term – Shorter terms (36–48 months) usually mean lower interest, while longer terms can raise the APR.
- New vs. Used – Loans for new cars often come with better rates than used ones.
- Down Payment – A bigger down payment lowers your loan amount—and can help you score better terms.
- Debt-to-Income Ratio – Lenders look at how much of your income goes toward existing debt. Lower is better.
Knowing this stuff helps you position yourself for a better rate before you even apply.
Tips to Get the Best Auto Loan Rate with America First
Getting a good rate is part strategy, part timing. Here’s how to improve your chances:
- Boost Your Credit Score before applying—pay off credit cards and check your report for errors.
- Keep Your Loan Term Short if possible. Even if it means a slightly higher monthly payment, you’ll save on interest.
- Make a Bigger Down Payment—this reduces how much you need to borrow and shows lenders you’re low risk.
- Get Pre-Approved by America First before heading to the dealership—it gives you negotiating power.
- Compare Offers—even if you love America First, it’s smart to get quotes from at least two other lenders.
These small moves can save you thousands over the life of your loan.
Should You Choose a Credit Union Over a Bank?
If you’re a member of a credit union like America First—or eligible to join—it’s usually a smart choice. Credit unions are owned by their members, not shareholders, which means they typically offer lower loan rates, fewer fees, and more personal service.
Banks, on the other hand, might offer broader online tools or larger loan amounts, but you’ll often pay more in interest. And while some online lenders are convenient, they can lack the personalized support credit unions provide.
Bottom line: if you’re focused on saving money, credit unions often come out on top.
Common Mistakes People Make with Auto Loans
Avoiding these common mistakes can save you a ton of stress (and money):
- Only looking at the monthly payment – A lower monthly number sounds nice, but it could mean a longer term and more interest.
- Skipping the fine print – Some loans come with hidden fees, prepayment penalties, or costly add-ons.
- Not shopping around – Even a 1% difference in interest can save you hundreds.
- Stretching the loan too long – 72- or 84-month loans might sound affordable, but they’re riskier and cost more long-term.
Take your time, do the math, and be clear on what you’re signing up for.
America First Auto Loan Alternatives
Not sure if America First is right for you? Here are some alternatives to consider:
- Other credit unions – Navy Federal, PenFed, and local credit unions may offer similar (or better) rates.
- Online lenders – LightStream, Carvana, and AutoPay offer fast approvals and flexible terms.
- Manufacturer financing – Sometimes dealers offer 0% APR promos—but make sure they’re not inflating the car price.
- Refinancing – If you already have a loan with a higher rate, refinancing through America First or another lender can save you money.
Just remember: no matter where you go, compare total cost—not just the rate.
Final Thoughts
America First Credit Union offers some of the most competitive auto loan rates around, especially if you have good credit and can meet their terms. But the “best deal” depends on your unique situation—your credit score, your loan term, your down payment, and what other lenders are offering.
If you’re already a member (or thinking of joining), America First is definitely worth considering. Just make sure to shop around, read the fine print, and crunch the numbers. That way, you can drive off the lot knowing you made the smartest financial move.
FAQs
What credit score do I need for America First’s best auto loan rates?
Typically, you’ll need a score in the mid-700s or higher to qualify for their lowest rates. That said, they do work with borrowers across the credit spectrum.
Does America First offer refinancing for auto loans?
Yes! You can refinance an existing loan with them, and they may even offer better rates or terms than your current lender.
Are there any fees or prepayment penalties?
America First usually doesn’t charge prepayment penalties, but it’s always smart to check your specific loan agreement for details on any fees.
How do I apply for an America First auto loan online?
You can apply directly on their website. The process is simple: fill out your info, upload documents if needed, and you’ll typically get a response within a day or two.
