America First Credit Union Auto Loans

An AFCU auto loan is a vehicle-financing loan from America First Credit Union covering new and used cars, trucks, RVs, motorcycles, ATVs, boats, snowmobiles, and powersports equipment. Loans are originated and serviced in-house from the Riverdale, Utah headquarters; the same not-for-profit structure that lets AFCU offer lower interest rates than dealer financing also keeps fees minimal and removes prepayment penalties entirely.

Vehicle Loan Products at AFCU

America First Credit Union finances a wider range of vehicles than most banks — from a sub-$5,000 used commuter car to a $250,000 motorcoach. Each category has its own underwriting model, but they share the same core advantages: no prepayment penalty, no application fee, and rate sheets published openly rather than negotiated by a finance manager.

Auto loans cover new and used cars and light trucks. RV loans separate motorhomes (Class A, B, C) from travel trailers and fifth wheels, with longer terms on bigger units. Powersports covers ATVs, side-by-sides, snowmobiles, motorcycles, and personal watercraft. Marine financing handles fishing boats, ski boats, pontoons, and outboard upgrades. The Turo program finances vehicles intended for use on the peer-to-peer rental platform — a niche most banks decline.

How to Apply for an AFCU Auto Loan

1. Get pre-approved. A 5-minute online form returns an approval amount and rate range. Pre-approval is good for 30-60 days and you carry it like a check to any dealer or private seller.
2. Pick the vehicle. Buy from a dealer, private party, or even an AFCU repossession sale (often well below retail). The VIN and bill of sale finalize the loan.
3. Submit final documents. Proof of insurance, copy of registration application, and signed bill of sale. Done online inside the member portal or at any branch.
4. Funds disbursed. AFCU sends funds directly to the dealer or private seller. For private-party sales the credit union can hold the title transfer through escrow at no extra fee.
5. Set up autopay. Autopay from an AFCU checking account knocks 0.25 percentage points off the rate on most loan products.

Rates and Terms

Auto-loan APR depends on five factors: credit score, term length, vehicle age, loan-to-value ratio, and whether the loan is for purchase or refinance. New-car rates start around 5.49% APR; used-car rates start around 5.99% APR; both go down to roughly 4.99% APR with strong credit and shorter terms. RV rates run 6.49-9.99%, motorcycles 6.99-12.99%, and boats 7.49-10.99% depending on the same factors.

Terms range from 12 to 84 months on most autos. Larger RVs go up to 180 months. The longer the term, the lower the monthly payment but the more total interest paid over the loan's life. AFCU's calculator on the rates page shows the exact tradeoff for any amount and term.

Key Auto Loan Facts at AFCU

New vs Used vs Refinance — Picking the Right Loan

The same vehicle can be financed three different ways at AFCU, and the right one depends on the borrower's situation — buying outright versus transferring an existing loan. New-car loans typically carry the lowest APR (the vehicle is collateral worth more than the loan), used-car loans run a touch higher (more depreciation risk), and refinance loans land between the two — the credit union charges no origination fee to take over a loan from another lender.

Refinancing makes sense whenever the new rate is at least 1 percentage point lower than the existing rate and at least 12 months remain on the term. The 90-day deferred-first-payment promotion sometimes runs on auto refis, giving borrowers a payment-free first quarter to handle title transfer and any moving costs.

Vehicle Loan Products

Refinancing an Auto Loan to AFCU

Auto refinancing at AFCU follows the same application flow as a new purchase loan, with one additional step: the current lender's payoff statement. The credit union sends payoff funds directly to the prior lender, files for title release, and re-records the lien in AFCU's name. Average refi savings run $40-120 per month for borrowers whose original loan was financed at a dealer's marked-up rate. There is no fee to refi and no penalty if the new loan is later paid off early or refinanced again.

Overview & Key Features

America First Credit Union auto loans finance new and used vehicles, RVs, motorcycles, boats, ATVs, and powersports equipment from the 6th largest US credit union ($23.3 billion in assets, 1.5 million members, 116 branches). Loans are originated and serviced in-house at the Riverdale, Utah headquarters, with online instant-decision pre-approval, member rates that typically undercut dealer financing, and no prepayment penalty on any loan product.

• Auto Loans: New and used cars and trucks, APR from 4.99%, 12-84 month terms
• RV Loans: Travel trailers, fifth wheels, Class A/B/C motorhomes, terms up to 180 months
• Motorcycle Loans: Cruisers, sport, touring, dual-sport, trike financing
• Boat & Watercraft: Fishing, ski, pontoon, PWC, outboard upgrades
• Powersports: ATV, side-by-side, snowmobile, dirt-bike financing
• Auto Refi: Take over a dealer or third-party loan at member rates with no origination fee
• Pre-Approval: 5-minute online application with instant decision in most cases
• No Prepayment Penalty: Pay extra principal or pay off early without fees
• Phone: 1-800-999-3961 for auto-loan specialist line
• Online Application: Submit and manage inside secure.americafirst.com

People also ask about AFCU auto loans

What credit score do I need for the best AFCU auto rate?

The best published rate (around 4.99% APR on new and qualifying used vehicles) requires roughly 720+ FICO, a short term (36-60 months), and a healthy loan-to-value ratio. Scores in the 600s typically qualify but at higher APRs.

Can I buy from a private party with an AFCU loan?

Yes. AFCU finances private-party vehicle purchases with the same rate as dealer purchases. The credit union can handle the title transfer through escrow at no fee, protecting both buyer and seller.

How does AFCU's 90-day deferred-first-payment promotion work?

When the promotion is active (sometimes seasonal), the borrower's first payment is deferred for 90 days from closing. Interest still accrues during that period and is included in the loan balance, but no cash payment is required for the first quarter.

Does AFCU finance EVs and hybrids?

Yes. Electric vehicles and hybrids are financed under the standard auto-loan program. Some state programs offer additional incentives or rebates that can be combined with AFCU financing.

Can I get an AFCU loan for a Turo rental car?

Yes. AFCU has a dedicated Turo financing program that lets members finance vehicles intended for the peer-to-peer rental platform — a niche most banks decline to underwrite.

What is the difference between an AFCU auto loan and dealer financing?

Dealer financing typically pads the buy rate by 1-3 percentage points as a profit center. AFCU publishes its rate sheet openly and lends at wholesale to members, often saving $1,000-3,500 over a 60-month loan compared to dealer-arranged financing.