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AFL-CIO EFCU Auto Loan Calculator, Interest Rates & Overview

Carla Soto
Carla Soto
Updated 09 September 2023
Fact checked

A quick review of AFL-CIO auto loan

AFL-CIO Employees Federal Credit Union logo
AFL-CIO Employees Federal Credit Union offers a wide range of new and used car loans, motorbike, boat and recreational vehicle finance. With low interest rates, you have up to 7 years to repay a new car loan and up to 10 years to repay a boat or RV loan. Additionally, they offer discounts to enrolled Preferred Rewards members, pre-approval, mechanical breakdown and GAP auto protection coverage and loan protection insurance.

Want to see what an AFL-CIO Employees Federal Credit Union auto loan will cost? Try the AFL-CIO auto loan calculator below! All you have to do is enter your desired loan amount and term to see an estimate. You can use the calculator to adjust your loan amount and term to see how it might affect your monthly repayments.

Key AFL-CIO EFCU auto loan features

  • Minimum loan amount: $15,000
  • Maximum loan amount: Undisclosed
  • Interest rates: Interest rates vary based on the type of vehicle being financed, the duration of your loan and your credit history. New car loans start from 6% APR (Annual Percentage Rate) over 48 months. Use vehicle loans can start from 7.50% over 84 months. See the product table below for more details.
  • Loan terms: From 12 to 96 months (depending on loan type). For certain recreation vehicles, you can have up to 120 months to months to repay your loan.
  • Loan fees: No application or origination fee
  • Discounts: Save up to 0.25%

AFL-CIO car loan options

New Vehicle Finance

  • Minimum loan amount of $15,000 to cover up to 100% of the purchase price.
  • The loan will cover the MSRP (manufacturer’s suggested retail price).
  • Interest rates vary based on loan duration (term) and your creditworthiness. Loans start from 6.00% APR over 48 months and increase by 0.50% APR for every 12 months extra, with an APR starting at 8.00% on new car loans over 96 months.

Used Vehicle Finance

  • For vehicles up to 7 years old.
  • The finance covers 100% of the NADA (National Automobile Dealers Association) recommended price.
  • Interest rates vary based on loan duration (term) and your creditworthiness. Loans start from 6.00% APR over 48 months and increase by 0.50% APR for every 12 months extra, with an APR starting at 7.50% on used car loans over 84 months.

Other loan types

AFL-CIO EFCU offers a wide range of loan options for other types of vehicles with a wide range of competitive interest rates. Loan types include:

  • Refinance on used cars
  • Older vehicle finance (vehicles 8 to 12 years old)
  • New motorbike loans
  • Used motorbike loans
  • Recreational vehicles (RVs) and boat finance

AFL-CIO auto loan calculator

Provider
Product Information
EST Monthly
Repayment
Interest
Rate
Repayment
Period
Loan
Amounts
Sort loans by

Loan Amount

$25,000

Term

60 months

Change
AFL–CIO Employees Federal Credit Union

New Vehicle Loans

New Vehicle Loans
Estimated Month Repayments
$444 Inclusive of fees
Interest Rate
2.49%
APR
Repayment Period
12 months
to 84 months
Loan Amounts
$5,000
to $100,000
GO TO SITE
Borrow for terms of 48 months from 2.49% up to 84 months from 4.49%
AFL–CIO Employees Federal Credit Union

Used Vehicle Loans

Used Vehicle Loans
Estimated Month Repayments
$449 Inclusive of fees
Interest Rate
2.99%
APR
Repayment Period
12 months
to 72 months
Loan Amounts
$5,000
to $100,000
GO TO SITE
Borrow for terms of 48 months from 2.99% up to 84 months from 3.99%
AFL–CIO Employees Federal Credit Union

Motorcycle Loans

Motorcycle Loans
Estimated Month Repayments
$595 Inclusive of fees
Interest Rate
15.00%
APR
Repayment Period
12 months
to 72 months
Loan Amounts
$5,000
to $100,000
GO TO SITE
Get a low interest rate Motorcycle Loans
Featured
Achieva Credit Union

Achieva - New Auto Loan

Estimated Month Repayments
$437 Inclusive of fees
Interest Rate
1.89%
APR
Repayment Period
12 months
to 84 months
Loan Amounts
$5,000
to $100,000
GO TO SITE
Low fixed interest rates. Flexible terms. Same-day approvals. No hidden fees.
Featured
Bank of America

Bank of America auto loan

Estimated Month Repayments
$595 Inclusive of fees
Interest Rate
15.00%
APR
Repayment Period
12 months
to 72 months
Loan Amounts
$5,000
to $100,000
GO TO SITE
Get a low interest rate Bank of America auto loan

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Minimum and maximum loan periods vary between 1 month and 10 years. Annual Percent Rates (APR) vary between 4.99% and 35.99% p.a. Total interest repayments vary between $592 and $916 over the life of the loan. *APR is based on an unsecured loan of $20,000 over a term of 3 years. WARNING: This APR is true only for the examples and may not include all charges. Different terms, fees or loan amounts might result in a different APR. These rates can change without further notice.

How to apply for an AFL-CIO auto loan

Eligibility criteria

  • You must be a member of the AFL-CIO EFCU
  • You must be 18 years old or otherwise have the ability to contract for automotive financing in your state of residence legally, and
  • Either a U.S. citizen or resident alien (permanent or non-permanent)

How to join AFL-CIO EFCU

Check you to see if you’re eligible to join AFL-CIO. Requirements to join include the following:

You are in the field of membership of the AFL-CIO Employees Federal Credit Union or if you are employed by:

  • The AFL-CIO
  • An affiliated union, such as Airline Pilots; State, County and Municipal Employee; United Food and Commercial Workers; Communications Workers of America; International Brotherhood of Electrical Workers; American Federal of Teachers; Machinists; Government Employees; National Association of Letter Carriers; Laborers; American Postal Workers; and Sheet Metal Workers
  • A constitutional department of the AFL-CIO
  • A local member of Office and Professional Employees International Union, United Food and Commercial Workers Union (UFCW), United Food and Commercial Workers Union (UFCW), National Football League Players Association (NFLPA), International Union of Painters Allied Trades (IUPAT), Washington-Baltimore News Guild, American Federation of Teachers (AFT), or American Postal Workers Union (APWU)
  • View the full eligibility criteria at the AFL-CIO website.

Steps to join AFL-CIO

  1. Apply by filling out a Membership Application. You can bring or mail it to one of their branches. You can also email the application to [email protected].
  2. Deposit $5 by check, money order, or bringing cash to a branch.
  3. Provide a copy of your ID. This can be any valid unexpired government-issued photo ID such as a drivers license, identification card, passport, or employer ID.

What you’ll need to have ready:

When you apply for auto financing with AFL-CIO, you’ll be asked to provide personal information such as:

  • An email address
  • Your full name
  • Address
  • Social Security number
  • Employment information
  • Income details
  • U.S. citizenship status

You may need to provide AFL-CIO EFCU with additional documents to complete your loan request. These documents may include a purchase agreement or bill of sale, car registration and title, instructions for buying out a lease, proof of income (such as federal tax returns and W-2s), and financial statements.

Suppose you’re applying for a refinance loan or looking to buy out a lease. In that case, you’ll need to provide additional information about the vehicle. This includes the make, model, and year of the car, as well as the mileage and vehicle identification number (VIN). Having this information ready will help BoA process your application more quickly.

Ways to apply for an AFL-CIO auto loan:

  • Apply online by clicking the GO TO SITE link in the table below
  • Visit a branch
  • Call 301-683-2800

Additional AFL-CIO auto loan details

  • Automatic payment: Available.
  • Loan approval times: Undisclosed. The online application takes 10 to 20 minutes.
  • Rate discounts: Loan Loyalty Program Members can receive up to 0.25% discount.
  • Repayment frequency: Monthly.
  • Late payment fees: If your payment is more than 15 days late, a late fee will be charged with 15% of the monthly principal and interest payment, or $25, whichever is less.
  • Prepayment penalty: $0
  • Co-borrowers allowed: Yes
  • Co-signers: Yes
  • Ways to repay: Mailed-in check, phone, online banking and in-person.
  • Hardship program: Undisclosed.

Vehicle restrictions and limitations

  • Maximum vehicle age: Up to 12 years
  • Maximum vehicle mileage: Undisclosed.
  • Other vehicle restrictions: Minimum finance amount on a new or used vehicle is $15,000. AFL-CIO can finance smaller amounts on old vehicles and motorcycles. The credit union will either finance MSRP (manufacturer’s suggested retail price) on new cars or (NADA) National Automobile Dealers Association retail price on used cars.

Pros and cons

Pros

  • Available for a wide range of vehicle types and vehicle ages, including new, used, motorcycles, boats and RVs.
  • Pre-approvals available.
  • Wide range of loan terms.
  • Online application can be filled in 10-20 minutes.
  • Options for mechanical breakdown, GAP auto protection coverage, and loan protection insurance.
  • Co-applicant and guarantors available.
  • Discounts of up to 0.25%.

Cons

  • High minimum loan amount.
  • Rate discounts for members only.

Frequently asked questions

Are AFL-CIO auto loan interest rates fixed or variable?

Interest rate types are not specified on the AFL-CIO website. However, they state, “AFL-CIO EFCU reserves the right to change rates without advance notice.” which may imply variable interest rates.

Are there discounts available on AFL-CIO car loans?

Yes, a “Loan Membership Loyalty Program” member can receive a 0.25% APR discount on a new or used vehicle loan.

What is the maximum term of an AFL-CIO auto loan?

Term lengths vary based on the loan type. For new vehicles, 96 months; for used vehicles, 84 months; for older vehicles, 60 months; for new and used motorcycles, 72 months. You have up to 120 months to repay the loan for new and used boats and recreational vehicles.

Does AFL-CIO refinance auto loans?

Yes. Their website doesn’t provide much information on refinancing, but it is an option in their online application. Used vehicle interest rates most likely apply to refinancing.

What information do I need to provide when applying for a AFL-CIO EFCU car loan?

When applying for vehicle finance, you’ll need an email address, your full name, address, Social Security number, employment information, income details and U.S. citizenship status. If you have a co-applicant or guarantor on the application, they will need to provide similar information.

Video: We are the AFL-CIO

Carla Soto
Carla Soto

Carla is a skilled copywriter at BestFind with a background in marketing and communications. She specializes in reviewing personal loan and finance products to help readers navigate the complex world of personal finance.

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