Digital Credit Union, or DCU, is a New England credit union offering personal loans nationwide. If you don’t have the best credit, chances are you won’t get the lowest interest rates — if you get approved at all. Show
While Digital Federal Credit Union auto loans are available in all 50 states, DCU only has full-service, in-person branches in the following two states:
What makes Digital Federal Credit Union auto loans unique?Unlike many of its competitors, DCU offers auto loans for a wide variety of vehicles, including new, used, classic and antique cars, as well as mobility vehicles for drivers with disabilities. DCU’s stand-out features include discounts for DCU account holders and substantially lower rates for energy-efficient vehicles, as well as maximum loan terms up to 10 years for some vehicles. What types of car loans does DCU offer?DCU offers a variety of auto loans for both new and used vehicles, including:
Whether you’re buying new or used, you have the option of purchasing through a dealership or private party. You can even finance a lease buyout or refinance your current DCU auto loan for a lower rate or longer term. Other vehicle financing options from DCUDCU offers several other vehicle financing options. These include:
How does DCU determine my interest rate?DCU takes into account the following factors when determining your interest rate:
What are the benefits of Digital Federal Credit Union auto loans?From longer loan terms to a slew of discounts, here are a few perks of taking out a DCU auto loan:
What to watch out forConsider these potential downsides before taking out an auto loan with DCU:
Compare more car loansDigital Federal Credit Union reviews and complaintsBBB accreditedNoBBB ratingABBB customer reviews1.4 out of 5 stars, based on 25 customer reviewsBBB customer complaints91 customer complaintsTrustpilot Score2.8 out of 5 stars, based on 6 customer reviewsApp Store Score2.3 out of 5 stars, based on 195 customer reviewsGoogle Play Score3.9 out of 5 stars, based on 3,234 customer reviewsCustomer reviews verified as of19 October 2020Digital Federal Credit Union doesn’t have the greatest reviews on the Better Business Bureau (BBB). It receives an A rating from the BBB, but earns a meager 1.4 out of 5 stars for its customer review rating. Many borrowers complain that DCU’s online system was difficult to navigate. And others stated communication with customer service representatives was difficult and unclear. If you choose DCU as your auto loan provider but don’t live in New Hampshire or Massachusetts, be prepared to navigate most details of your auto loan online. However, in terms of DCU’s auto loans specifically, reviewers were generally satisfied with the low rates and extended loan terms available. Many said they were impressed by how quickly their loan was approved and how fast they received their funds. How do I apply?Before taking out a DCU auto loan, double-check that you meet its eligibility requirements. Most borrowers apply online, though you can also send a printed application in by mail or fax. And if you live in New Hampshire or Massachusetts, you can apply in person by visiting one of its 18 branches. Follow these steps to begin the application online:
It usually only takes a few minutes to complete DCU’s initial application. However, you might be required to follow up by email or phone if you don’t have all the relevant information available right away. Most borrowers say they heard back about a decision on the spot when applying in person or by the following business day if applying online. And once approved, most borrowers report that they received their funding by next-day air mail. What documents do I need to apply?To apply for an auto loan at DCU, you’ll need the following information:
I got the Digital Federal Credit Union car loan. Now what?Once you’ve been approved for a Digital Federal Credit Union car loan, consider setting up autopay to avoid late fees and penalties. You might also want to sign up for a DCU checking account — which can take up to a week to process — so that you can qualify for its interest rate discount. Keep an eye on your bank account and loan balance. If you notice something off, reach out to a DCU customer service representative by calling 800-328-8797. Bottom lineDCU auto loans may be a good option for borrowers looking for flexible, extended loan terms or those interested in purchasing a rare or specialty vehicle. But with branches in only two states, it’s not ideal if you like being able to talk to a loans specialist in person. You can see how DCU stacks up to the competition with our guide to car loans. Frequently asked questions
Car loan ratings★★★★★ — Excellent ★★★★★ — Good ★★★★★ — Average ★★★★★ — Subpar ★★★★★ — Poor We rate car loan providers on a scale of 1 to 5 stars based on factors like transparency, costs and customer experience. We don’t take into account elements like eligibility criteria, state availability or payment frequency — we save that for our reviews. Read the full methodology of how we rate car loan providers to get a better picture of what goes into each star rating. Which Credit score does DCU use for auto loans?Digital Federal Credit Union auto loan rates
Lenders set their own requirements, but Digital Federal Credit Union's lowest rates are typically available only to borrowers with good or excellent credit (a FICO score of 690 and above). Borrowers with bad or fair credit won't qualify for the lowest interest rates.
What kind of APR can I get on a car with a 650 credit score?Auto loan interest rates with a 650 credit score
According to Experian data, near-prime borrowers had an average car loan rate of 6.07% on new vehicle financing and 9.80% on used vehicle financing in Q4 2021.
Does DCU pre approval affect credit score?DCU doesn't offer the ability to apply for prequalification. Applying for a DCU loan will result in a hard credit inquiry, which may impact your credit scores.
What is DCU Interest Rate?6.17% - 0.16% Up to and including the first $1,000.00. 6.00% 6.17% Rates are effective December 17, 2022.
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