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

Carla Soto
Carla Soto
Updated 13 October 2023
Fact checked

A quick review of Coastal Federal Credit Union auto loans

Coastal Federal Credit Union logo

Coastal Federal Credit Union (Coastal24) has low-rate vehicle loans and options for members with past credit issues. Additionally, members may get an auto refinance guarantee worth $200 if switching to Coastal doesn’t save them at least $100 in monthly payments. But Coastal 24 doesn’t fund RVs, motorcycles, boats, ATVs, and commercial vehicles.

Want to see what a Coastal 24 auto loan will cost? Try the Coastal 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 Coastal Federal Credit Union auto loan features

  • Minimum loan amount: Undisclosed.
  • Maximum loan amount: Undisclosed.
  • Interest rates: Auto loans start at 5.49% APR.
  • Loan terms: Up to 84 months.
  • Loan fees: Undisclosed.
  • Discounts: Undisclosed.

Coastal Federal Credit Union loan options

New and used auto loans

Coastal 24 has competitive and flexible financing choices with rates as low as 5.49% and terms extending to 84 months. For 2014 to 2016 models, you can secure rates from 6.04% to 7.99% for up to 72 months. In case you want to fund 2013 and older vehicles, your rates can range from 6.19% to 7.74%.

Auto loan refinancing

You can also refinance to a Coastal auto loan for as low as 5.49% APR. Plus, you may qualify for the refinance guarantee worth $200 if Coastal 24 fails to save you at least $100 on your monthly payment.

Coastal Federal 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
Coastal Federal Credit Union

Coastal Federal Credit Union auto loan

Coastal 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 Coastal 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 Coastal Federal Credit Union auto loan

Eligibility criteria

Though Coastal 24 doesn’t state the specific requirements to finance a vehicle, you usually need to be:

  • A member of the Coastal Federal Credit Union
  • At least 18 years old or legal to acquire auto financing
  • Employed or have a steady source of income

Additionally, it helps to boost your credit score before applying. Lenders typically offer their lowest rates and longest terms to borrowers in good credit standing. This way, you can qualify for more favorable auto loans.

How to join Coastal 24

To qualify for Coastal Credit Union membership, you need to meet one of the following:

  • An employee of one of Coastal 24’s partner associations, organizations, or businesses
  • An immediate family member or household member of a Coastal member
  • Live or work in select North Carolina towns
  • Live, work, worship, attend school, or do business and other legal entries in Vance County

What you’ll need to have ready:

When you apply for auto financing with Coastal 24, 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 Coastal 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.

Coastal 24 may ask for additional information and documents, too. Depending on your case, they may require details about the vehicle, such as the make, model, year, and mileage. So, knowing these beforehand can make the loan process faster and easier.

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

  • Apply online by clicking the GO TO SITE link in the table below
  • Visit a branch
  • Call 800-868-4262

Additional Coastal 24 auto loan details

  • Automatic payment: Available.
  • Rate discounts: Lower rates for borrowers with credit scores of 640 or higher.
  • Repayment frequency: Monthly.
  • Late payment fees: $10 at 15 days past due.
  • Prepayment penalty: None.
  • Co-borrowers allowed: Yes.
  • Co-signers: Undisclosed.
  • Ways to repay: Online banking, mobile app, by mail, and in-person.
  • Hardship program: Available. (Apply)

Vehicle restrictions and limitations

  • Maximum vehicle age: 2013 models.
  • Maximum vehicle mileage: Undisclosed.
  • Other vehicle restrictions: No financing for RVs, motorcycles, boats, ATVs, previous commercially used, commercial vehicles, commercially insured, straw purchases, vehicles with unibody damage, and previously flooded. Branded titles are also not applicable.

Pros and cons

Pros

  • Flexible loan terms up to 84 months.
  • Competitive interest rates for qualified members.
  • No pre-payment penalty.
  • Auto refinance guarantee worth $200.
  • No payment for the first 45 days.
  • Loan options for members with previous credit issues.
  • Stress-free car buying through AutoSMART.
  • Easy loan pre-approval before heading to a dealership.
  • Discounted GAP insurance.
  • Quick transfer of the $200 refinance guarantee (within 5 days from the loan origination date).

Cons

  • Borrowers with credit scores lower than 640 may receive higher rates.
  • Vehicle Coastal will finance doesn’t include RVs, motorcycles, boats, ATVs, commercial vehicles, branded titles, straw purchases, vehicles with unibody damage, and previously flooded.
  • Late payment fee worth $10.
    Lack of rate discounts.

Frequently asked questions

Does Coastal offer cash-out auto loans?

Yes. You can cash out based on the equity in your vehicle.

How to get a car loan from Coastal Credit Union?

You can apply online or visit any Coastal 24 branch near you.

How does Coastal 24 vehicle finance work?

Consider a vehicle with a purchase price of $25,000. Let’s say you apply for a $25,000 loan amount and get a 5.64% APR fixed for 48 months. Meaning your monthly payment may be around $584.

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

You may get as low as 5.49% APR for 2023 to 2024 models and 6.04% APR for 2014 to 2016 models. Keep in mind that your APR (annual percentage rate) depends on your credit qualifications, amount financed, collateral, and loan term. Plus, taxes, title, and dealer fees may apply.

Will applying for vehicle finance with Coastal 24 affect my credit score?

Remember though that submitting a loan application requires Coastal to make a hard credit check. In turn, this appears on your credit report and temporarily decreases your estimated credit score.

Video: Coastal auto loans – A better way to bank

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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