Used Auto Loans

Great Rates, Flexible Terms, and Fast Approvals

Get Behind the Wheel of Your Dream Car

With a used auto loan from TEG, you’ll get a great rate, flexible loan terms, and quick online approval. So what are you waiting for? Drive away in the perfect car with our affordable and convenient auto loans to match your needs and budget.

TEG FCU Used Auto Loan Benefits

Financing with TEG gives you much more. All of our auto loans come loaded with these great benefits to save you money and make owning your car enjoyable.

  • Competitive rates to save you money
  • Flexible loan terms up to 84 months
  • No application fee or prepayment penalties
  • Loan discounts with automatic payments
  • Financing up to 135% for qualified buyers
  • Mechanical Breakdown and GAP Protection available

TEG FCU Auto Loan Rates

 APR as low as:
Vehicle Model Years 2022-20182.99%*
Vehicle Model Years 2017-20133.34%*
Vehicle Models Older Than 20135.44%*

*Rates effective as of 3/3/2021. Annual Percentage Rates (APR) shown are “as low as” and are based on an evaluation of the applicant’s credit, term of loan and loan-to-value ratio. Your rate may vary from rates shown. Other rates and terms available. Rates are subject to change at any time without advance notice. The stated rate is discounted by .25% and includes a requirement that loan payments are automatically transferred from your account for the life of the loan. Internal refinances and auto equity loans rates are different and are not eligible for promotional rates.

Estimate Your Monthly Car Payment

See how affordable it can be when you finance with TEG FCU.

 
 



 

Auto Loan Calculator

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*Interest rate shown includes 0.25% discount for automatic loan payment and does not reflect the age of vehicle purchased.

 
 

Get Pre-Approved Now

When you’re preapproved, you hold the keys. Dealers know you are a serious buyer, and they’ll be ready to make a deal to get your business. Plus, getting preapproved gives you important details, such as:

  • How Much Can You Afford? You don’t want to fall in love with an auto that will break your finances. Alternatively, if you’re going to splurge, you can do so with confidence.
  • How Much Are Monthly Payments? Don’t rely on the auto sales staff to figure this out for you.
  • What Interest Rates Are Available? You’ll get a feel for what rates are available to you, and you will have an offer in hand before you walk into a dealership.

Applying Is Easy

Apply in minutes with our simple application process.

Step1

Apply Online

Complete our quick and easy application.

Step2

Get Pre Approved

We review your application and get in touch quickly with a decision.

Step3

Shop With Confidence

Use your pre-approval to shop for your new auto.

★★★★★

“Awesome customer service! Very accommodating and friendly. Obtaining the car loan through TEG was easy. I plan to use their services for my next car loan and possibly mortgage loan in the near future. Love this bank. Would highly recommend their services.”


– Ida M.

Used Auto Loan FAQs

Do I need to be a member of TEG FCU to finance a car loan with you?

Yes, but becoming a member is easy! And we’d love to have you join us!.

If you meet all of the eligibility requirements, you can apply online to open an account and get started


How much can I borrow to buy a car?

Your credit score, income, expenses, and any down payment you plan to make all play a role in determining how much you can borrow. So we always recommend getting pre-approved to know for sure.


Can I pay off my car early if I finance it with you?

Yes! You can pay your loan off when it’s convenient for you because we don’t have prepayment penalties.


How can I figure out how much my monthly payments will be?

Our monthly payment calculator will give you a general idea. From there we recommend applying for a loan so we can give you the exact amount with a pre-approval.


What are my options for automatic payments?

Making a payment on your loan is easy. You can even sign up for automatic loan payments and avoid missing or being late on a payment. All of this is quick and easy to do with our online and mobile banking services.


Is there any way I can set up reminders so I don’t miss any loan payments?

Absolutely. You can set up Account Alerts so that you never miss a payment or are notified in the event that a payment is past due.

Account Alerts are a simple, effective way to stay on top of your budgeting and money management strategy through text messages alerting you to any attention that needs to be paid to your account.


Can I make loan payments from an outside financial institution?

Yes! It’s called an external funds transfer, and you can send over money from an outside account to your TEG FCU accounts at no charge!

We also make it easier for you to switch over your accounts to TEG FCU with ClickSWITCH. Learn more.


Other Auto Loan Products

New Auto Loans

Get behind the wheel of your dream car- with low rates and outstanding loan terms to save you money.

First-Time Auto Buyers

You can buy a car without an extensive credit history with our First-time Car Buyer program.

Auto Refinance

Love your car but not the payment? Lower it with a quick and easy auto loan refinance from TEG FCU.