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Navy Federal Auto Buying Program Experience

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Regular Contributor

Navy Federal Auto Buying Program Experience


Can anyone share their experience with going throuh NFCU's auto buying program? I was approved for a loan with NFCU today and they informed me of the program. I pick up a check for the dealership tomorrow and then it's off to find a car. I guess through the program they select dealers to work with and NFCU customers receive discounts with these dealers. I was wondering if anyone used the contracted dealers, what the experience was like and if the savings was significant.


Thanks for reading!

Message 1 of 3
Established Contributor

Re: Navy Federal Auto Buying Program Experience

Many credit unions and even some banks have similar car buying programs. Although I'm a NFCU member, I don't have any specific experience with their particular program. But it works the same as others I've used before.


In general, I'm not a big fan of these programs anymore. They're somewhat outdated; they were more useful before the Internet made abundant research materials available. Nowadays, you can use sites like Edmunds and Cargurus to get a pretty good estimate of the market value of the car you're looking at as well as your trade-in, if any.


I've found that I can do the research myself and often negotiate a better deal than the credit union car buying programs. Of course, if you have neither the time nor desire to do your own homework, the car buying programs make it easy. They remove negotiations over the sales price from the equation. But don't forget you still have plenty of room to negotiate other things, such as the value of your trade-in and the price of any add-ons such as extended warranties, etc.


Good luck!


Message 2 of 3
Regular Contributor

Re: Navy Federal Auto Buying Program Experience

Thanks for your response! I ended up buying a new car at a better price than my NFCU discount. The reason being is the car was the dealer's service vehicle (only has 5600 miles). Due to it being owned and driven by the dealership the state of Ca considers it used so yay me. I got a 34k car for 27k! With NFCU your interest rate is determined by are only considered new if they are current or future year, Then it goes by current year has to be under 7,500 to get the best rate....score again! WOOHOO!!! Smiley Happy

Message 3 of 3
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