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Chartway Federal Credit Union Auto Loan Calculator, Interest Rates & Overview

Carla Soto
Carla Soto
Updated 25 September 2023
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A quick review of Chartway Federal Credit Union auto loans

Chartway Federal Credit Union logo

Be it for purchasing or refinancing at a lower rate, Chartway Federal Credit Union offers a range of affordable auto loans. Interest rates start at 5.60% APR, and the loan terms are flexible for up to 84 months. You can also choose from a range of new and pre-owned vehicles from cars and pick-up trucks to RVs and boats. Moreover, Chartway provides up to 0.75% rate discounts to qualified members.

Want to see what a Chartway auto loan will cost? Try the Chartway 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 Chartway Federal Credit Union auto loan features

  • Minimum loan amount: No minimum for new and used car loans with 1 to 60-month terms. $15,000 for loan terms of 61 to 72 months. For terms ranging from 73 to 75 months, the minimum amount is $20,000, and $25,000 for terms 76 to 84 months.
  • Maximum loan amount: Undisclosed.
  • Interest rates: New auto loans start at 5.60% APR, while used auto loans start at as low as 5.64% APR.
  • Loan terms: Up to 84 months.
  • Loan fees: Undisclosed.
  • Discounts: 0.25% discount with autopay, and 0.25% discount for members with a loan-to-value (LTV) ratio of less than 90%.

Chartway Federal Credit Union loan options

New vehicle loans

Chartway finances and refinances new car loans at competitive interest rates. For terms up to 48 months, members can lock in rates as low as 5.60% APR. Then, rates for 61 to 72 months start at 6.10%. If you’re looking for longer loan terms, 73 to 75-month terms have 6.34% APRs, while 76 to 84-month terms begin at 7.19%.

Used vehicle loans

Chartway’s pre-owned auto loans also have attractive rates and flexible terms. For 1 to 48-month terms, rates start as low as 5.64% APR. But if you want longer terms, you can choose between 73 to 75 months ( 6.34% APR) and 76 to 84 months (7.19% APR).

Recreational vehicle loans

Other than autos, Chartway FCU provides loans for leisure vehicles, including motorhomes, RVs, motorcycles, travel trailers, boats, and watercraft. Depending on your vehicle type, rates can start as low as 5.59% APR. Meanwhile, loan terms can stretch up to 180 months. Additionally, borrowers with an LTV ratio of less than 80% can get a 0.25% APR discount.

Chartway Federal Credit Union auto loan calculator

Provider
Product Information
EST Monthly
Repayment
Interest
Rate
Repayment
Period
Loan
Amounts
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Loan Amount

$25,000

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60 months

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Chartway Federal Credit Union

Chartway Federal Credit Union auto loan

Chartway 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 Chartway 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

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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 a Chartway Federal Credit Union auto loan

Eligibility criteria

Though Chartway doesn’t indicate the specific requirements to finance a vehicle, you usually need to:

  • Be a member of Chartway Federal Credit Union
  • Be at least 18 years old or legal to acquire car loans
  • Be employed or have a steady source of income

Each financial institution varies, but they usually provide their best rates and terms to borrowers with high credit scores and positive payment histories. So, consider checking your credit score before you apply. This way, you can make certain adjustments to boost your chances of securing an ideal loan.

How to join Chartway Credit Union

To be a member of Chartway, you need to meet at least one of the following:

  • Live, work, worship, or attend school in an area served by one of the branches;
  • Be a relative of a current Chartway member;
  • Be an immediate family member of an employee of any of the 750 companies that offer Chartway’s benefits to their employees;
  • Or, donate $10 to the Chartway Promise Foundation.

What you’ll need to have ready:

When you apply for auto financing with Chartway Credit Union, 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 Chartway 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.

Moreover, Chartway FCU may require details about the automobile, such as the vehicle identification number (VIN) and exact mileage. If you’re refinancing, you also need to provide the 10-day payoff quote if a different lender currently finances the vehicle.

Ways to apply for a Chartway Federal Credit Union auto loan:

  • Apply online by clicking the GO TO SITE link in the table below
  • Visit a branch
  • Call (800) 678-8765

Additional Chartway Credit Union auto loan details

  • Automatic payment: Available.
  • Loan approval times: Undisclosed. But in general, credit unions may take 1 business day to a few weeks.
  • Rate discounts: 0.25% APR discount with autopay, and 0.25% APR discount for borrowers with a loan to value of less than 90%. Discounts cannot exceed 0.75% APR.
  • Repayment frequency: Monthly.
  • Late payment fees: Undisclosed.
  • Prepayment penalty: Undisclosed.
  • Co-borrowers allowed: Yes.
  • Co-signers: Undisclosed.
  • Ways to repay: Online banking, Express Pay using your account information or debit card, over the phone, and in a branch.
  • Hardship program: Undisclosed.

Vehicle restrictions and limitations

  • Maximum vehicle age: Unspecified.
  • Maximum vehicle mileage: 6,000 miles or less for new vehicles.
  • Other vehicle restrictions: Commercial vehicles unavailable.

Pros and cons

Pros

  • No loan payment for up to 45 days after signing.
  • Flexible terms of up to 84 months for new and used cars and up to 180 months for recreational vehicles.
  • Low interest rates.
  • 0.25% rate discounts with autopay and low loan-to-value ratio (LTV).
  • No minimum loan amount for new and used auto loans with 1 to 60-month terms.
  • Save time, and apply online.
  • Get pre-approved in minutes, and go to the dealer knowing your loan offer and rate.
  • Several types of vehicles available – new and used cars, motorcycles, motorhomes, RVs, travel trailers, boats, and watercraft.
  • Discounted vehicle prices and top brands through TrueCar.
  • Optional loan protection, including Guaranteed Asset Protection (GAP) and mechanical repair coverage.

Cons

  • Membership limitations.
  • Lack of commercial vehicles.
  • Low credit scores may result in high interest rates.
  • Undisclosed loan fees.
  • Branches only available in 3 states (Texas, Utah, and Virginia).

Frequently asked questions

Are there discounts available on Chartway Federal Credit Union car loans?

Yes. You can get a 0.25% APR discount when you set up auto debit for your car payment. If your loan-to-value ratio is less than 90%, you can have another 0.25% APR discount. However, discounts cannot exceed 0.75% APR.

What information do I need to provide when applying for Chartway vehicle finance?

You need to provide your personal, contact, income, and vehicle details. Aside from those, Chartway FCU also requires your employer’s information, like address, contact name, and phone number.

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

If you’re employed, you need to provide copies of your 2 most recent and consecutive paystubs. But in case you’re self-employed, you can submit copies of your last 2 years of tax returns.

How much interest does Chartway Federal Credit Union charge on car loans?

New auto loan rates
1 to 48 months: 5.60%
49 to 60 months: 5.70%
61 to 72 months: 6.10%
73 to 75 months: 6.34%
76 to 84 months: 7.19%

Used auto loan rates
1 to 48 months: 5.64%
49 to 60 months: 5.70%
61 to 72 months: 6.10%
73 to 75 months: 6.34%
76 to 84 months: 7.19%

Keep in mind that the available rates depend on your overall credit rating.

What is the maximum term of a Chartway Federal Credit Union car loan?

Used and new car loans can be financed for up to 84 months. For recreational vehicles, loan terms may stretch up to 180 months depending on the type of vehicle.

Will applying for vehicle finance with Chartway Federal Credit Union affect my credit score?

Yes. When you submit a loan application, Chartway needs to pull your credit report. As a result, this temporarily dings your credit score. To bounce back, make sure you constantly meet your monthly payment.

Are the auto loans available in all 50 states?

Chartway loan is available to areas served by one of the branches in Texas, Utah, and Virginia.

Video: Chartway Auto Loans

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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