Let Us Help You Explore Credit Union Auto Loans

Frequently Asked Questions
Why should I get a credit union car loan?

Tropical Financial offers four different types of vehicle loans which include new, used, recreational and refinancing. There’s many benefits to a credit union car loan versus one from another financial institution. Credit Unions tend to offer lower rates and terms, personalized service, approved financing to streamline the car buying experience as well as perks and promotions for members.

What should I know about car loans from a credit union in Florida?

Many people decide to apply for an auto loan at the dealership and are unaware of the details for their loan. There’s many important pieces that consumers should be aware of, yet are not always notified.

How long are car loans usually for?

Our auto loan terms differ between new and used. New auto loans have the option of 36, 60, 72 or 84 months. Whereas, our used auto loan terms are generally for 36, 60 or 72 months.

How much will I pay overall on my car loan from a credit union?

This depends on your specific situation. However, the important thing to know about stretching out the term is that you’ll pay less monthly, but end up paying more over time due to interest, whereas with shorter terms you’ll pay a higher monthly payment and less over time. 

What’s the interest rate on an auto loan from Tropical Financial Credit Union?

Our rates vary depending on the term you choose and also varies depending on credit score.  We recommend working with one of our representatives to find your specific rate and payment based on your specific details.

Applying for a car loan from a credit union in Florida is an easy process. You can either apply online or call in to speak with a representative. We provide resources to members and non-members, so they can decide if applying with us, is the right choice for them.

We recommend browsing our different types of auto loans as they allow you to compare car loan rates, calculate/estimate future payments and apply for a approval.

For more tips and tricks be sure to check out our auto blog here. 

Disclosures

All loans subject to approval based on creditworthiness, qualifications and collateral conditions.
TFCU membership required with $5.00 minimum in savings. Member must reside in a state within TFCU lending area. Other restrictions may apply. Rates and Offers are subject to change without notice. Current TFCU accounts must be in good standing, not have any type of restrictions, and TFCU loans paid-to-date.

Automobile: New automobiles include autos current year and previous year. Used Auto includes previously titled vehicles 8 years old or newer. Up to 100% financing not to exceed the lesser of MSRP or the final purchase price plus tax and Vehicle Service Agreement on new vehicles or the NADA retail value plus/minus options and mileage on used vehicles. Older Used Auto includes vehicles 9 years and older and must reflect a NADA value.

*90-day payment deferral subject to credit qualification. Interest will continue to accrue during the 90-day deferral period on the full amount borrowed beginning on the loan issue date. The accumulation of interest, with no payments being made to reduce the principal, will be added to the total repayment amount. If you have purchased disability, and/or life insurance any charges will continue to accrue for any deferred month, and the final loan payment will include such charges.  If you have purchased GAP insurance, please note that deferred payments may be excluded in the GAP coverage. Any deferred payments could be deducted from a GAP claim settlement, and you will be responsible for the remaining deficiency balance that may result. Other restrictions may apply. This offer may be removed at any time without notice.  Offer cannot be combined with any other offer.  TFCU membership eligibility required with $5 minimum in savings. Member must reside in a state within TFCU lending area.