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Auto Loans
Home › Home & Auto › Auto LoansAuto Loans To Get You In The Driver's Seat
A car is one of life’s biggest purchases, and when you’re ready to hit the road, you don’t have time to waste. That’s why we keep our financing process simple and hassle-free. With every auto loan at Grow, you’ll enjoy simple terms, low rates and quick preapproval.* Then, you can take that preapproval to any dealer, anywhere in the country, and shop with confidence.
Quick Preapproval
The car market moves fast, and inventory doesn’t sit on the lot long these days. We get it. Apply online now and get preapproved in as little as 60 seconds.*
Low Rates
We keep interest rates competitive so you can finance your dream ride without breaking the bank. Check out our current rates below.
Friendly, Local Service
We’re here to help you every step of the way. Need to get in touch? Stop by a Grow store, message us on live chat or give us a call. You’ll get friendly, member-focused service no matter what.
Vehicle Loans Rate Type Terms APR New cars, trucks and vans Fixed Varies As low as 5.14%1 Used cars, trucks and vans Fixed Varies As low as 5.40%2 New watercraft Fixed Varies As low as 7.50%3 Used watercraft Fixed Varies As low as 8.25%3 New RV Fixed Varies As low as 5.00%4 Used RV Fixed Varies As low as 5.50%4 New motorcycles Fixed Varies As low as 8.00%5 Used motorcycles Fixed Varies As low as 8.25%5 New BMW, Ducati, Harley Davidson & Triumph Motorcycles Fixed Varies As low as 7.75%6 Used BMW, Ducati, Harley Davidson & Triumph Motorcycles Fixed Varies As low as 8.00%6 Rate Type Fixed Terms Varies APR As low as 5.14%1 Rate Type Fixed Terms Varies APR As low as 5.40%2 Rate Type Fixed Terms Varies APR As low as 7.50%3 Rate Type Fixed Terms Varies APR As low as 8.25%3 Rate Type Fixed Terms Varies APR As low as 5.00%4 Rate Type Fixed Terms Varies APR As low as 5.50%4 Rate Type Fixed Terms Varies APR As low as 8.00%5 Rate Type Fixed Terms Varies APR As low as 8.25%5 Rate Type Fixed Terms Varies APR As low as 7.75%6 Rate Type Fixed Terms Varies APR As low as 8.00%6 Annual Percentage Rate (APR). The loan rates quoted are effective 12/08/2024 and are subject to change. Subject to credit approval.
1Fixed rates for new vehicles range from 5.14% APR to 18.0% APR. The rate you receive is determined by your credit history, collateral, term and loan to value.
2Fixed rates for used vehicles range from 5.40% APR to 18.0% APR. The rate you receive is determined by your credit history, collateral, term and loan to value.
3Fixed rates for watercraft range from 7.5% APR to 9.75% APR. The rate you receive is determined by your credit history, year of the watercraft, and term of the loan.
4Fixed rates for RVs range from 5.0% APR to 8.5% APR. The rate you receive is determined by your credit history, year of the RV, class, and term of the loan.
5Fixed rates for motorcycles range from 8.0% APR to 10.0% APR. The rate you receive is determined by your credit history, year of the motorcycle, and term of the loan.
6Fixed rates for premier motorcycles range from 7.75% APR to 10.50% APR. The rate you receive is determined by your credit history, year of the motorcycle, and term of the loan.
Shopping used? Check out CU AutoBranch.
In the market for a used vehicle? Have you heard of CU AutoBranch? You can buy select pre-owned vehicles for as low as 0.00% APR1 from Grow through CU AutoBranch, a dealership dedicated to credit union members.
Most of the time, you can get the best bang for your buck on the car lot by coming prepared with your financing in place. This helps you avoid dealership financing charges and gives you the power to shop with similar confidence as a cash buyer. What do we mean by that? You can ask for the “out the door” price, rather than dealing with smoke and mirrors that sometimes accompanies the financing process at a dealership. Plus, you’ll already have an idea of what price you can afford and what your monthly payment range would be.
What kind of car you can afford depends on what other debt and expenses you have compared to your income, and the decision of how much to spend on buying your car is personal and depends on your own priorities and goals. A good general rule of thumb is that your auto loan payment and associated expenses, like insurance and gas, shouldn’t be more than about twenty percent of your take-home pay.
This answer depends primarily on whether or not you make your payments on time, every time. If you do, then yes, auto loans can be a big credit boost in the long run. Initially, applying for any new loan can cause a temporary ding in your score by a few points because it adds a hard credit inquiry to your credit report. But by paying on time consistently, you’ll see an increase in your score over time. Learn more about how to improve your credit score.
Dealership and Done
Car shopping can be exhausting, and sometimes, you just want to hit the lot, choose your new ride and roll out quickly. That’s why we have over 1,000 participating dealerships across six states — Florida, South Carolina, Alabama, Georgia, North Carolina and Tennessee — offering auto loans with Grow Financial. As a Grow member, you’ll always get our most competitive rates, whether you get preapproved online, apply in-store or finance at the dealership. So if you’re in a hurry and want to visit the showroom first, you can close your loan on-site at the dealership without missing out on our best available rates. Just ask about financing your auto loan with Grow Financial. It’s that easy.*
Important Information About Procedures for Opening a New Account
To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account. What does this mean for you: When you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.
*Subject to credit approval; not all will qualify.
1Fixed rates for select pre-owned vehicles range between 0.00% APR and 8.49% APR. The rate you receive is determined by your credit history, year of the vehicle, and term of the loan.
How to Find Your Routing & Account Numbers
When you make a payment online, by phone or on a mobile device, you may be asked for our routing number and your checking account number. Credit unions and banks use these numbers to identify accounts and make sure money gets where it’s supposed to be. You’ll also need to provide your routing and checking account numbers for:
- Direct deposits
- Electronic checks
- Military allotments
- Wire transfers
Where to Find Your Routing & Checking Account Numbers
Your personal checks include both our routing number and your account number, as shown on the Grow check example below.
Don’t have a Grow check? No worries.
Visit any Grow store and ask for a Direct Deposit Form. It lists both your routing number and checking account number.
Making a Loan Payment
When it comes to making payments, we try to make it as painless as possible to pay your loan every month. We have several different ways to pay, including convenient online options.
Pay Online
You have two ways to pay online by transferring funds from another bank or credit union.
- Grow Online Banking (Preferred payment method for any loan)
This is the simplest way to pay your loan. You can make one-time payments or set up automatic recurring payments in Grow Online Banking. Once you log in, select “Transfer/Payments” from the menu. If you’re not enrolled in Grow Online Banking yet, you can set up your account in just a few minutes.
Log In
- Debit Card or ACH (Available for auto, personal loans and HELOCs)
Note: ACH and debit card payments are not available for credit cards or most mortgages, except HELOCs.
We accept ACH payments with no additional fees or Mastercard® and Visa® debit cards with a convenience fee of $4.95. To get started with an online ACH or debit card payment, select Pay Now below.
Pay Now
Pay by Mail
You can also pay any Grow loan by check through the mail. Please remember to include your account number and Grow loan number on the check. (For credit card payments, please do not write your 16-digit credit card number on the check, which can cause a delay in processing the payment.)
Address for auto, credit card, personal loan and HELOC payments:
Grow Financial Federal Credit Union
P.O. Box 75466
Chicago, IL 60675-5466Address for personal first or second mortgages and home equity payments:
Grow Financial Federal Credit Union
P.O. Box 11733
Newark, NJ 07101-4733You Are About To Leave GrowFinancial.org
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