Auto Loans
Looking for an auto loan? You're in the right spot! Nebraska credit union members save over $1000 on average over the life of their auto loan vs. financing through a bank.*
Right now, you can apply for a car loan with rates as low as 3.96% APR for 48 months*.
Auto Loan Options
There's so many options when it comes to buying and financing a car, it can be overwhelming. We're simplifying auto loans for you, here.
What is the difference in new car vs. used car loans?
A car loan is classified as new if the car has only ever been owned by the manufacturer or dealer and the title has never been in a person's name. A used car loan is a car that has been owned by someone else previously, even if you're planning to purchase it from a dealer.
While each dealer or financial institution has their own guidelines, at Mutual 1st Federal, new car loans are the current and previous model year, or 2019 and 2020 vehicles. Cars can be financed for up to 10 model years, so model years 2010 - 2018 are considered a used car loan.
What's the best way to finance a car?
Getting pre-approved before you go to the dealer gives you a financial advantage. By
getting pre-approved for an auto loan, you concentrate on finding the right vehicle for you. It gives you the best negotiating power to focus on the price of the vehicle, since you already know what you're pre-approved for, and how much the payments will be.
If you get pre-approved for an auto loan with Mutual 1st Federal, we can provide a pre-approval letter which you can take with you to a car dealer to simplify the buying process.
What do I need to apply for a car loan?
To apply for an auto loan, you'll need:
- To be eligible for membership (or be a current member) at our credit union: live, work, worship or attend school in Omaha or the surrounding area (find out more)
- An estimate of how much you want to borrow
- Work or income history
- Personal information (address, date of birth and social security number)
If you're planning to make a down payment or have an estimate on a trade-in, that information is helpful to provide when applying for an auto loan.
Finding the Right Vehicle
We've partnered with area dealers to allow you to
search and shop online for your next vehicle. Now you can search the make and model of your vehicle and see where it's in stock! Our helpful auto buying resources allow you to secure a great deal, while still financing your auto loan through Mutual 1
st Federal in Omaha, NE.
Additional Auto Loan Services
- Low cost payment protection is available
- Guaranteed Auto Protection (GAP) is available to ensure you’re protected against financial loss to cover the difference between what your insurance pays you and the loss of your vehicle
- Auto Deductible Reimbursement is included with GAP coverage. If you suffer an eligible loss you may be entitled to reimbursement of your auto deductible, up to $500 per loss (limit of two losses per year).
- See if you qualify for a lower rate on auto insurance with TruStage Insurance
- Members who have auto loans with Mutual 1st Federal will want to reference these proof of insurance details to make sure you’re properly insured.
Consult our
Financial Service Representatives to determine your options if you have bad credit or poor credit history.