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Rate Break Program

Build Your Credit

Save Money, Build Your Credit, Get Rewarded

If your credit is less-than-perfect, Mission Fed’s Rate Break Program could help lower your Auto Loan payments while also helping you build good credit. By making your Auto Loan payments on time, you can reduce your rate by up to 3% over 18 on-time monthly payments. Lower rates = less interest over time.

How Does It Work?

  1. Apply for a Mission Fed Auto Loan and our specialists will let you know if you qualify
  2. Make your Auto Loan payments on-time
  3. Every six months we’ll automatically review your loan for a potential rate discount. Up to three times over 18 monthly payments.
  4. If you qualify, we’ll apply the new lower rate to your next month’s payment
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Ready to Apply for an Auto Loan?

Let us help you get into your next car. Mission Fed has competitive rates, flexible terms, knowledgeable loan experts and resources you can shop with confidence and get into the car of your dreams.

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Auto Loan Guide

Don’t know where to get started? Download our Auto Loan Guide with essential information about what to consider and expect when looking for a new car.

Download the PDF Guide
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Help When You Need It

The best feature? Real people to talk to.

If you have questions or need help, we have real people standing by to help you.

Make an Appointment

All loans and loan programs are subject to approval. New members must meet account and membership criteria.

Rate Break Program:

Lower credit tier borrowers qualify for the program, making their Mission Fed auto loan eligible for a potential reduction in rate and payment after every six on-time monthly payments, for the first 18 monthly payments. Each qualifying rate reduction is 1% off the current APR, up to 3% maximum. New and used auto loans are eligible. Loans must have a minimum term of 24 months to qualify.

Participating members must keep auto loan and any other accounts with Mission Fed in good standing. Loans and accounts will be reviewed every 6 months thereafter, for the first 18 monthly payments to ensure continued eligibility. Not meeting the terms and conditions of the program will result in the disqualification of auto loan from the program.  In the event of disqualification, members will be notified. Other conditions may apply.