VIENNA, Va., Sept. 1, 2011 /PRNewswire-USNewswire/ -- Navy Federal Credit Union announced today that it has lowered its 36-month new auto loan rate to an APR as low as 1.79%. "We believe this is the lowest rate being offered by any bank or credit union in the nation today," said Tony Gallardy, vice president, Consumer and Credit Card Lending.
Navy Federal reported strong auto lending growth in the past several months, driven by its 1.99% APR new auto rate for loans up to 60 months. The credit union plans to maintain this rate, along with the new 1.79% APR rate for 36 months. In addition, Navy Federal will continue to offer a $100 bonus for members who choose to refinance their new car loans from other financial institutions with Navy Federal.
"We are very excited to offer this unprecedented low rate to members at the start of the fall car buying season. With a lot of good deals in the market, this is a great time to get a new car or truck," said Gallardy. "Plus, our free auto buying service can help them get a great deal on the car of their dreams," Gallardy continued.
About Navy Federal Credit Union
Navy Federal Credit Union is the world's largest credit union with $46 billion in assets, 3.7 million members, 217 branch offices, and more than 8,000 employees worldwide. The credit union serves all Department of Defense military and civilian personnel and their families. For additional information about Navy Federal, visit www.navyfederal.org.
CONTACT: Jennifer Sadler
Phone: (703) 206-3137
SOURCE Navy Federal Credit Union