New, used, and refinance auto loans from 5.24% APR with terms up to 84 months. Get pre-approved online before you visit the lot. Military dealer partnerships deliver additional savings on select vehicles in the Northwest Florida area.
Dealership financing is convenient — sign the paperwork in the F&I office and drive away. But that convenience carries a cost. Dealer markup on interest rates, often called "dealer reserve," can add one to three percentage points above the buy rate the dealer obtained from its lending partners. A service member financing $28,000 at a dealer-marked rate of 8.5% over 60 months pays roughly $2,400 more in total interest than the same loan at Eglin Federal Credit Union's 5.24% member rate. That spread compounds across a military career that typically involves purchasing a vehicle at each new duty station.
Pre-approval through Eglin FCU eliminates the information asymmetry. Walk into any dealership — partner or otherwise — with a firm rate, maximum amount, and approved terms already in hand. Negotiate the vehicle price independently of the financing terms. If the dealer can beat the credit union's rate, take it. If not, hand them the Eglin FCU pre-approval letter and close the deal on your terms. The Consumer Financial Protection Bureau recommends obtaining at least one pre-approval from a credit union or bank before shopping at any dealership.
New, used, refinance, and recreational vehicle financing for members and their families.
Finance a new car, truck, or SUV with terms up to 84 months at rates starting from 5.24% APR. The rate is fixed for the life of the loan. Up to 100% financing is available for well-qualified borrowers, meaning no down payment is required on the vehicle purchase price. Loan amounts cover the vehicle price plus tax, tag, and title. Pre-approval is available online and takes minutes — apply before you visit the dealer and shop with confidence knowing your maximum budget and locked rate.
Used vehicle rates start at 5.74% APR with terms up to 72 months. Maximum loan-to-value (LTV) is 110% of NADA retail value, covering the purchase price plus tax, tag, and extended warranty if desired. Vehicle age restrictions apply — generally, the vehicle must be no more than seven model years old at the time of financing. For service members arriving at a new duty station and purchasing a reliable used vehicle for a two- or three-year tour, the used auto loan provides affordable fixed payments without the depreciation hit of a new car.
Members carrying auto loans from dealerships, banks, or online lenders can refinance to Eglin FCU at rates starting from 5.49% APR. The credit union pays off the existing lender directly. No application fee. The process requires a current payoff statement, vehicle registration, and proof of insurance. Refinancing makes particular sense for members who accepted dealer financing under pressure at the time of purchase and later discovered they qualified for a significantly lower credit union rate.
Recreational vehicle financing starts at 6.24% APR for motorcycles, RVs, boats, and personal watercraft. Terms vary by vehicle type and value — up to 180 months for high-value RVs, up to 72 months for motorcycles and boats. Florida's year-round outdoor climate makes recreational vehicles a practical purchase rather than a seasonal luxury, and Eglin FCU's member rates reflect that reality with pricing well below marine dealership and specialty lender alternatives.
Eglin Federal Credit Union maintains partnerships with select Northwest Florida dealerships that offer military-specific pricing to Eglin FCU members. These arrangements typically include discounts on MSRP, reduced documentation fees, or exclusive incentive programs not available to the general public. Members should identify themselves as Eglin FCU members and present their pre-approval letter to access partner pricing.
Guaranteed Asset Protection (GAP) insurance is available through Eglin FCU at rates typically lower than dealer-offered GAP products. GAP covers the difference between the vehicle's actual cash value and the outstanding loan balance if the vehicle is totaled or stolen — a critical protection for new vehicles that depreciate 20% or more in the first year. GAP can be added at the time of loan origination or within the first 90 days.
Current rates by vehicle type, effective April 2026.
| Vehicle Type | APR From | Max Term | Max LTV | GAP Available |
|---|---|---|---|---|
| New Auto | 5.24% | 84 months | 100% | Yes |
| Used Auto | 5.74% | 72 months | 110% NADA | Yes |
| Refinance | 5.49% | 84 months | 110% NADA | Yes |
| Motorcycle | 6.24% | 72 months | 100% | Yes |
| RV / Camper | 6.24% | 180 months | 90% | Yes |
| Boat / PWC | 6.24% | 72 months | 90% | Yes |
APR = Annual Percentage Rate. Rates based on creditworthiness and subject to change. LTV = Loan-to-Value. NADA = National Automobile Dealers Association. No prepayment penalties. All loans subject to credit approval.
New vehicle loans start at 5.24% APR, used vehicles at 5.74% APR, and refinancing at 5.49% APR. Motorcycle, RV, and boat loans start at 6.24% APR. All rates are fixed for the life of the loan and based on creditworthiness. No prepayment penalties apply.
New vehicle loans extend up to 84 months (7 years). Used vehicle loans extend up to 72 months (6 years). Maximum term depends on vehicle age and loan amount. RV loans can extend up to 180 months for higher-value units.
Yes. Refinance rates start at 5.49% APR. The credit union handles the payoff to your existing lender directly. No application fee. You need a current payoff statement, vehicle registration, and proof of insurance. Apply online, through the mobile app, or at any branch.
Yes. Select Northwest Florida dealerships offer military-specific pricing to Eglin FCU members, including MSRP discounts and reduced documentation fees. Get pre-approved through Eglin FCU first, then present your pre-approval letter at the partner dealership to access exclusive pricing.
Yes. GAP insurance covers the difference between the vehicle's actual cash value and the remaining loan balance if the vehicle is totaled or stolen. Eglin FCU's GAP pricing is typically lower than dealer-offered alternatives. GAP can be added at origination or within 90 days of funding.
Explore other Eglin Federal Credit Union loan products and services.
Borrow $1,000 to $50,000 with fixed rates starting at 7.49% APR.
Fixed and adjustable rates, VA loans, FHA, HELOCs, and local underwriting.
Zero down payment, no PMI, competitive rates for veterans and service members.
Return to the Eglin Federal Credit Union homepage for a full overview of services.
Eglin FCU