![]() ![]() ![]() They work to understand your particular circumstances and budget and use their knowledge of car finance and our lenders’ criteria to find you the car finance options and rates that most suit your needs. To gain more accurate information on your car loan, we recommend you speak with a finance specialist. As each customer is different, the car loan interest rate offered by our lenders is also likely to be different.Īny car loan calculator should be used as a guide only. This means the rate offered by our lenders to each customer is based on each individuals lending profile, circumstances and the asset they are looking to purchase. When using any car finance calculator, please keep in mind that asset finance (including cars, SUVs and light commercials) is mostly a ‘risk-based lending system’. Your car loan interest rate may vary depending on various factors including your lender, the car loan amount and payment term. Our car loan repayment calculator can provide an approximate guide of what your weekly, fortnightly or monthly car repayments might be based on the total amount you want to borrow over a certain loan term.Īlternatively, you can use it as a borrowing calculator to estimate how much you could borrow based on what you would like to budget (or can comfortably repay) each week, fortnight or month.Ī car loan repayment calculator can also provide a guide on the interest rate of your car loan. This will inform the amount you may be able to borrow, what the repayments might be, as well as the car loan interest rate. For example, if you use your loan during September, your first payment will be due on October 30.If you’re considering applying for a car loan, it’s a good idea to first get an estimate of your car loan repayments. Your first payment is due on the 30th of the month following the month you use your auto loan. You may not use your Direct Federal AutoCheck to finance boats, motorcycles, RVs or campers, or any vehicles for commercial use. You may finance automobiles, SUVs, pickup trucks, and minivans for consumer use. If you realize you need more money to finance your purchase once you start shopping for your car, simply call us at 781.455.6500. ![]() If rates fall from the time you apply until the time you use your loan, you will get the lower rate in effect at the time of purchase. If rates rise from the time you apply until the time you use your loan, you will get the lower rate that was in effect when you applied. WHAT HAPPENS IF INTEREST RATES CHANGE BETWEEN THE TIME I APPLY AND THE TIME I PURCHASE A VEHICLE? If, for whatever reason, you do not use the loan during that time period and need another one, simply call us at 781.455.6500. HOW LONG DO I HAVE TO USE MY DIRECT FEDERAL AUTO LOAN? This allows you to finance the entire purchase price plus the sales tax. You can borrow 120% of the value of your car (subject to our maximum auto loan limit of $100,000). WHAT IS CONSIDERED A "NEW AUTO" VERSUS A "USED AUTO"?Īt Direct Federal, the most recent two model years are considered "new." Model years earlier than the most recent two are considered "used." We add a new model year each year on June 1st. Apply today and buy your first car tomorrow! Our First-Time Auto Buyer loan allows first-time auto buyers, who are at least 21 years of age and have a zero credit score, to purchase their first vehicle and start establishing credit. The application will take less than 10 minutes.įIRST-TIME AUTO BUYER LOAN SMARTSTART PROGRAMīuying a car is long considered the first start of adulthood but yet many young-adults struggle to buy their first car since they may not have had an opportunity yet to establish the credit required from lenders. You would pay off your current auto loan and receive $6,700 back in cash to spend however you wish. If your original loan has a high interest rate, you could transform your car payments with Direct.Ĭurrent Auto Loan from another lender: $10,000 You can even refinance your car loan up to the full value of the car and get cash back to be used however you wish. Refinance your existing car loan with a Direct Federal auto loan and lower your monthly payments right away with our leading low interest rate. HAVE AN AUTO LOAN WITH A DIFFERENT LENDER? ![]()
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