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Used Car Loan
Be Ready To Buy
If you’re ready to buy, whether it’s from a used car dealer or a private sale, you want to know how much you can afford, and have your purchasing power in hand when you negotiate. Before you go, let us help you crunch the numbers. We can also include protection and loan insurance for your investment with options like Mechanical Breakdown Protection (MBP) and Guaranteed Asset Protection (GAP) coverage with Auto Deductible Reimbursement (ADR). These can be rolled right into your loan so payments are easy. Set up automatic transfers right through online banking and always be up to date.
Used Car Loan Rates
See our current rates below.
Live Smarter
Ready to start shopping for a used car? Start the application process below.
If you’re not ready to apply for a used car loan, and have questions, we are here to help. Call 315-735-8571 to talk about your options or make an appointment with one of our friendly and knowledgeable representatives today.
Interested In Learning More?
To see the different types of vehicle loans and services available to our Members, visit our Car Loan Options overview page.
Let’s Get Started
We look forward to helping you.
Apply Now
Protect Your Investment
For Auto Loans, We Offer MBP, GAP and DPW:
MBP: Mechanical Breakdown Protection
Mechanical Breakdown Protection covers mechanical breakdowns in conjunction with and for a longer duration than the original manufacturer's warranty. This helps ensure that the investment in your vehicle is protected and reduces the possibility of out-of-pocket expenses during an unexpected mechanical failure.
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$0 deductible on all plans
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Immediate coverage
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Direct pay to repair facility
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Emergency roadside service included
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Rental car allowance
GAP: Guaranteed Asset Protection
If your vehicle is totaled or stolen, your insurance settlement can be significantly less than the outstanding loan balance. GAP is designed to relieve you of the responsibility for the remainder of the loan balance that may not be covered. We’ll make up that difference. As an added benefit with GAP, you will also receive the Auto Advantage Program.
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Low cost protection
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Helps avoid financial hardship and afford a replacement vehicle
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Helps protect credit rating
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If enrolled prior to January 1, 2017, Auto Deductible Reimbursement (ADR) pays up to $500 per loss (limit of 2 losses per year) when claim is filed and paid with your primary insurance carrier
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Personal ID Restoration Consulting in case of ID Theft
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Eliminates the out-of-pocket expense for the remaining loan balance after loss settlement
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Prevents deficiency balance from being added to new loan
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If enrolled on or after January 1, 2017, Auto Deductible Reimbursement (ADR) pays up to $500 per loss (unlimited losses per year) when claim is filed and paid with your primary insurance carrier
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Warranty Vault online storage for all your warranty information in one easy place
*In order to purchase GAP, you must have an active loan with First Source Federal Credit Union on the asset to be covered.
Learn more about GAP coverage and get a quote.
DPW: Depreciation Protection Warranty
Similar to GAP, DPW offers protection if your vehicle is ever totaled, or stolen and not recovered, at any time over the life of the loan. It waives some or all of your loan balance in the event of a total loss of your vehicle. It is equal to the difference between your vehicle’s MSRP or retail value at the time of DPW purchase, less the amount of your loan balance at the time of total loss. As an added benefit with DPW, you will also receive the Auto Advantage Program.
DPW is ideal for those who:
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Have equity in the vehicle through a down payment, trade-in or rebate at time of purchase
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Make accelerated loan payments
Benefits include:
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No mileage, make or year restrictions
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Coverage can be purchased at any time
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Coverage is 100% refundable for the first 60 days
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If enrolled prior to January 1, 2017, Auto Deductible Reimbursement (ADR) pays up to $500 per loss (limit of 2 losses per year) when claim is filed and paid with your primary insurance carrier
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Personal ID Restoration Consulting in case of ID Theft
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Accidental death protection is included, which offers cancellation of up to $1,000 of your outstanding loan balance if you were to die in an accident
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If enrolled on or after January 1, 2017, Auto Deductible Reimbursement (ADR) pays up to $500 per loss (unlimited losses per year) when claim is filed and paid with your primary insurance carrier
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Warranty Vault online storage for all your warranty information in one easy place
What can you afford?
Try our auto loan calculator.
Auto Loan Comparison Calculator
Want a rough idea?
Check today’s used auto loan rates effective April 27, 2024
2023-2025
Including Classics
| Term |
APR |
| 12 Month |
as low as 6.74% |
| 24 Month |
as low as 6.74% |
| 36 Month |
as low as 6.74% |
| 48 Month |
as low as 6.74% |
| 60 Month |
as low as 6.99% |
| 72 Month |
as low as 6.99% |
| 84 Month |
as low as 6.99% |
| 96 Month |
as low as 8.49% |
| 108 Month |
as low as 9.49% |
2020-2022
| Term |
APR |
| 12 Month |
as low as 6.74% |
| 24 Month |
as low as 6.74% |
| 36 Month |
as low as 6.74% |
| 48 Month |
as low as 6.74% |
| 60 Month |
as low as 6.99% |
| 72 Month |
as low as 6.99% |
| 84 Month |
as low as 6.99% |
2019 & Older
Excluding Classics
| Term |
APR |
| 12 Month |
as low as 8.24% |
| 24 Month |
as low as 8.24% |
| 36 Month |
as low as 8.24% |
| 48 Month |
as low as 8.24% |
| 60 Month |
as low as 8.49% |
| 72 Month |
as low as 8.49% |
Apply for an Auto Loan Now
Loan rates and terms are determined by overall credit history and are subject to change without notice. Applications are subject to credit approval.
Monthly payments for a 5 year new vehicle loan at 6.99% would be $19.80 per $1,000 borrowed.
Monthly payments for a 5 year used vehicle loan at 6.99% would be $19.80 per $1,000 borrowed.
Monthly payments for a 5 year older vehicle loan at 8.49% would be $20.51 per $1,000 borrowed.
Membership and credit requirements apply. Rates and terms determined by overall credit history and subject to change.
| Term |
Rate |
APR* |
Estimated Monthly Payment |
30 year Fixed
0.0 Points |
7.000% |
7.167% |
$1064.48 |
20 year Fixed
0.0 Points |
6.750% |
6.962% |
$1216.58 |
15 year Fixed
0.0 Points |
6.500% |
6.760% |
$1393.77 |
FHA 30 year Fixed
0.0 Points |
6.625% |
7.479% |
$1024.50 |