On the week of deals, Stanford Federal Credit Union knocks the ball out of the park on competitive auto loan borrowing. The Credit Union is currently offering a deep, discounted rate of 1.49 percent on all new and used vehicle purchases financed for two years or 24 months. Alternatively, a borrower can get an attractive longer term loan of up to 84 months for a new or used car for only 2.49 percent as well.
Not included in this offer is motorcycle or RV lending. Those are higher at 6.75 percent and 8.99 percent annually, respectively. The Stanford Federal Credit Union has been operating, providing banking services, and lending to customers since 1959. First established as a credit union specific to employees of Stanford University and related facilities, the Credit Union has since expanded to 50,000 plus members. Some of this growth has had to do with the fact that the Credit Union expanded membership beyond just employees, to also include any students of Stanford University and its related schools as well. The current auto loan rate offered by the Credit Union is extremely competitive for those who are eligible for it.
Stanford Federal Credit Union is headquartered in Palo Alto, California. However, because so many students go through the University, its customers can literally be found globally. They and their families exponentially expand the member base accordingly. Ergo, why the Credit Union has continued to grow versus just stay a local institution. So if you or a relative has any connection to Stanford University, it may pay big dividends in savings on a car loan. The rate being offered by Stanford Credit Union currently is hard to beat anywhere else.