All Loans > Auto Loans > Caltech Employees Federal Credit Union Auto Loans Calculator
Important disclosure

Caltech Employees Federal Credit Union Auto Loan Calculator, Interest Rates & Overview

Carla Soto
Carla Soto
Updated 24 September 2023
Fact checked

A quick review of Caltech Employees Federal Credit Union auto loans

Caltech Employees Federal Credit Union logo

Caltech Employees Federal Credit Union (CEFCU) offers low-cost auto loans for a variety of vehicles – used and new cars, trucks, motorcycles, RVs, and boats. For as low as 4.95% APR, you can purchase or refinance vehicle loans. In addition, Caltech provides longer loan terms of up to 84 months and 1% rate discounts for automatic transfers.

Want to see what a CEFCU auto loan will cost? Try the Caltech Employees Federal Credit Union 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 Caltech Employees Federal Credit Union (CEFCU) auto loan features

  • Minimum loan amount: Undisclosed.
  • Maximum loan amount: Up to the retail value or purchase price (plus tax, license, and documentation fees). For vehicles 6 years and up, you can borrow up to 80% of the retail value.
  • Interest rates: New auto loan rates can be as low as 4.95% APR for a 36-month loan. For vehicles 6 years and older, the APR starts at 5.75%.
  • Loan terms: 36 to 84 months.
  • Loan fees: No loan origination fees and prepayment penalties.
  • Discounts: 1% rate discount for members who set up automatic transfers.

Caltech Credit Union loan options

New and used vehicle loans

CaltechEFCU can finance up to 100% of new auto loans (current to 5 years prior) for as low as 4.95% APR. You can choose from flexible terms from 36 to 84 months depending on your qualifications. Meanwhile, rates for autos 6 years or older start at 5.75% APR. But you can only borrow up to 80% of the retail value or purchase price.

Motorcycle, RV, and boat loans

Caltech Credit Union also has affordable loans for new and used motorcycles, RVs, and boats. For new or used motorcycles, rates start at 6.49% APR. Then, new RV loans with a 120-month term may come with a 7.95% APR. But if you’re purchasing a new or used boat, you can finance it up to 90% at 7.49% APR.

Caltech Credit Union 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
Caltech Employees Federal Credit Union

Caltech Employees Federal Credit Union auto loan

Caltech Employees Federal Credit Union 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 Caltech Employees Federal Credit Union auto loan
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

SeeLoans.com provides factual information about financial products. While SeeLoans.com attempts to make a wide range of products and providers available, it may not cover all the options available to you. Moreover, we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. All product information comes from the product provider or publicly available information and to the best of our knowledge is correct at the time of publishing. The information published on SeeLoans.com is general in nature only and does not consider your personal objectives, financial situation or particular needs and is not recommending any particular product to you. If you decide to apply for a product, you will be dealing directly with that provider and not with SeeLoans.com. SeeLoans.com recommends reading the relevant product disclosure statement or product guide before taking up any financial product offer. Please view SeeLoans.com's Terms of Use for more information.

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 a Caltech Employees Federal Credit Union auto loan

Eligibility criteria

  • You must be 18 years old or older
  • You should either be employed or have a steady source of income
  • You need a stable credit history

Lenders typically give favorable rates, terms, and overall loans to borrowers with high credit scores and positive payment histories. To improve your chances of securing a car loan, consider building your credit before applying.

What you’ll need to have ready:

When you apply for auto financing with CEFCU, 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
  • A list of monthly expenses

You may need to provide Caltech Credit Union 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.

If you’re refinancing or buying from a private seller, a vehicle inspection is required. The seller also needs to go to a Caltech office to complete the DMV documents. All applications are different, so you will get detailed information on the requirements you need.

How to join CEFCU

To become a CaltechEFCU member, you should meet at least one of the following criteria:

  • An employee of CEFCU or its affiliate organizations
  • Employees and registered volunteers of The Huntington Library, Art Collections, and Botanical Gardens
  • Registered graduate and undergraduate students at Caltech
  • An immediate family of a current Caltech member
  • A retiree of any affiliated groups, un-remarried spouses of deceased members, and Caltech and JPL-based clubs and organizations

Ways to apply for a Caltech Credit Union auto loan:

  • Apply online by clicking the GO TO SITE link in the table below
  • Visit a branch
  • Call (800) 592-3328

Additional CEFCU auto loan details

  • Automatic payment: Available.
  • Loan approval times: 1 to 2 days after submitting all the required documents.
  • Rate discounts: No teaser rates. Plus, 1% interest rate discount when you set up automatic payments.
  • Repayment frequency: Monthly.
  • Late payment fees: 20% of the charge due but not less than $5 or depending on the loan agreement.
  • Prepayment penalty: None.
  • Co-borrowers allowed: Yes.
  • Co-signers: Undisclosed.
  • Ways to repay: Online banking, payroll deduction, automatic transfer from CEFCU share savings account, and in-person.
  • Hardship program: Undisclosed.

Vehicle restrictions and limitations

  • Maximum vehicle age: Unspecified.
  • Maximum vehicle mileage: Unspecified.
  • Other vehicle restrictions: Unspecified.

Pros and cons

Pros

  • Flexible loan terms of up to 84 months.
  • Low interest rates to help you save money.
  • Up to 100% vehicle financing.
  • Fast loan approval (24 to 48 hours).
  • Quick funding time (around 48 hours).
  • 1% interest rate discounts with automatic transfers.
  • Get pre-approved for an auto loan.
  • No loan origination fees and early payment penalties.
  • Various payment options: Online banking, payroll deduction, automatic transfer, and in-person.
  • Multiple ways to apply – online, through fax, or in person.
  • Auto buying service from start to finish (Autoland).
  • GAP insurance and loan-payment protection (MEMBER’S CHOICE™ Borrower Security) available.

Cons

  • Rates subject to credit standing; low credit scores may result in higher interest.
  • Refinancing option is not allowed for current CEFCU vehicle loans or financed in the past 12 months.
  • Vehicle inspection required for refinance and private party purchases.
  • Only 3 office locations (La Cañada, Campus Office, and JPL Office).

Frequently asked questions

Are there early repayment fees on Caltech Credit Union auto loans?

No. You can pay your auto loan early without paying prepayment penalties.

How many pay slips does CaltechEFCU require during my car loan application?

You need to provide current pay stubs dated within 30 days. Alternatively, you can submit your tax return for the last 2 years if you’re self-employed.

Will applying for an auto loan with Caltech Credit Union affect my credit score?

Yes. When you submit your car loan application, Caltech’s loan officer will check your credit report. However, this only temporarily affects your credit score. So, ensure you meet your monthly payments to improve your credit.

How long does Caltech take to approve vehicle finance?

After submitting your loan documents, you can expect CEFCU’s decision in 24 to 48 hours.

How long does CaltechEFCU take to fund the loan?

Caltech may complete your vehicle loan funding within 2 days, depending on your application.

How do I pay my Caltech Employees Federal Credit Union auto loan?

You can pay your loan balance through online banking, from another financial institution, payroll deduction, automatic transfer, and in a branch.

How much interest does CEFCU charge on car loans?

For used vehicles (6 years and up), APR can be as low as 5.75% APR. New auto loan rates depend on your loan term:

  • 36 months: As low as 4.95% APR
  • 60 months: As low as 5.25% APR
  • 72 months: As low as 5.75% APR
  • 84 months: As low as 6.15% APR

Remember that loans subject to credit approval, so your rates may vary.

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.

.

Seeloans.com provides factual information in relation to financial products. While Seeloans.com attempts to make a wide range of products and providers available, it may not cover all the options available to you. Moreover, we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. All product information comes from the product provider or publicly available information and to the best of our knowledge is correct at the time of publishing. The information published on Seeloans.com is general in nature only and does not consider your personal objectives, financial situation or particular needs and is not recommending any particular product to you. If you decide to apply for a product you will be dealing directly with that provider and not with Seeloans.com. Seeloans.com recommends that you read the relevant product disclosure statement or product guide before taking up any financial product offer. For more information please see Seeloans.com’s Terms of Use and Services Guide.

© 2024 Seeloans.com