Auto Loans

Looking to lower your Home or Auto Loan payments or getting ready to buy? How about saving for a major purchase or life event in the future? View our  calculators page to help you estimate your loan payments, compare loans, calculate savings, make informed mortgage decisions and more.

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At Mission Fed, we want to make the car loan process fast and easy. When you apply, you’ll need:

1. A valid driver license
2. Your Social Security Number
3. Date of birth
4. Current address
5. Your Mission Fed account information (Not a member yet? Visit one of our branch locations!) 
6. Your occupation, employer and length of employment with them
7. Gross monthly income
8. Financial information regarding current credit accounts and debt

You may also need the following information, depending on the application:

1. Previous addresses and the length of residence
2. Previous employers and the length of employment
3. An estimate of your general monthly expenses
4. Your marriage status

Then, apply online, in person or by appointment at any Mission Fed branch. When you apply, you’ll receive a request that the lender, Mission Fed, get a credit report to confirm the provided information. It’s a good idea to review your credit history before applying to know what to expect. If your credit isn’t in the shape you’d like it to be, you may need a co-signer.

When you’re thinking about applying for a car loan, it’s a good idea to calculate how much you’ll likely pay each month with interest rates. Our Auto Loan calculator helps you easily calculate your monthly payment, total interest paid and how long you’ll make payments on your loan. The calculator is also helpful for making adjustments in your potential down payment, interest rate and loan term to help you budget. 

In order to get approved for a car loan, you’ll need to provide proof of steady income and a good credit history to show that you’ll be able to make your monthly car payments. Lenders are looking for evidence that you be consistent in paying your loan each month.

Take a look at the What do I need to apply for a car loan FAQ for a list of items that you’ll need to provide when you apply. You may also need to provide proof of insurance.

It’s also smart to review your credit history to ensure that you can correct any mistakes and explain any irregularities to lenders if necessary. Review our Credit Guide for more information about how to maintain a positive credit score.

If you’d like to refinance an existing car loan in San Diego, Mission Fed can help. All San Diegans are welcome to apply to refinance with us and save money with our Bottom Line Auto Loan Rates Every Day. Just as you would for any other Auto Loan, simply apply online, by phone or in person with an appointment at any of our branches. The refinancing application process is quick and easy, and you’ll have a response in no time. We can help you save more money with a refinanced Credit Union Auto Loan.

Buying a car is exciting! It’s also a major expense, so you want to make sure you’re prepared and understand the process.

The short answer is that car loans allow you to borrow money from a lender to buy a car. Like other loans, you pay back the borrowed money over time, with interest. Because interest is an essential part of your costs, getting the lowest Annual Percentage Rate (APR) on your loan will save you money over the life, or term, of your loan. Credit Union Car Loans, like Mission Fed’s Auto Loans, often have lower interest rates.

Whether this is your first car or you’re looking to replace your current car with a new or used one, an auto loan allows you to put yourself behind the wheel with the financial flexibility that makes your car purchase affordable for your budget and lifestyle.

Mission Fed is here to help you through every step of the process. Our Auto Loan Guide will walk you through important items to consider when determining the best finance options for you.