Auto l Boat l RV

New and used cars, trucks, boats, jet skis, RVs, ATVs, and trailers generally qualify. If you have any questions about qualifying vehicles, please get in touch with us! 

Yes! You can pay Altana loans and credit cards directly from our digital banking service. 

In most cases, vehicle loans are secured loans. This means the vehicle itself serves as collateral for the loan. If you don’t pay, the lender can repossess the vehicle to recoup their losses.

Most vehicle loans are fixed rate loans, which means the interest rate stays the same for the entire loan term. This offers predictability – you’ll know exactly what your monthly payment will be throughout the loan.

Vehicle loans are typically installment loans, meaning they involve a fixed loan amount that is repaid over a set period through regular, scheduled payments (installments). Each payment usually includes both principal and interest, and the loan is fully repaid by the end of the term if all payments are made as agreed.

Vehicle loans can be structured in different ways, but they are often simple interest loans. Simple interest means that interest is calculated only on the principal amount of the loan. Each payment made goes toward both the interest accrued since the last payment and the principal (the original amount borrowed). As the loan balance decreases, the amount of interest accrued on each payment also decreases.

Yes, vehicle loans can be refinanced. Refinancing a vehicle loan involves taking out a new loan to pay off the existing one, usually with different terms that are more favorable to the borrower. Refinancing a vehicle loan can be a smart financial move if it reduces your interest rate, lowers your monthly payments, or shortens your loan term. It’s important to carefully consider all aspects and costs associated with refinancing to ensure it’s the right decision for your financial situation.

Vehicle loan refinancing involves replacing your current vehicle loan, from any lender with a new one, typically at a lower interest rate or better terms. This can help reduce your monthly payments, lower your interest rate, or shorten the length of your loan, depending on your goals and financial situation.

To see the lower interest rate you may qualify for by refinancing your vehicle loan with Altana, complete a quick online application. Or call us directly at 406.651.AFCU (2328) or 1.800.221.7555. We’re happy to answer your questions and guide you through the process.

You can refinance your vehicle loan at any time, but it’s typically best to wait until you’ve owned the vehicle for at least 6 months to 1 year. This allows your vehicle’s value to stabilize and your credit score to improve, which can help you secure better refinancing terms. You might refinance if:

• You have improved your credit score since taking out your original loan.
• You’re looking for a significantly lower interest rate.
• You prefer a longer loan term to lower your monthly payment (be aware of total interest paid).
• You prefer a shorter loan term to pay off your loan faster (higher monthly payment).

The documents you’ll need typically include:

• Proof of income (paystubs, tax returns)
• Proof of vehicle ownership (title)
• Your current loan payoff statement

Refinancing a vehicle loan can have a temporary impact on your credit score due to the hard inquiry when you apply. However, if you refinance to a lower interest rate and make timely payments, it can help improve your credit score over time and help you manage debt more effectively.

You can refinance your vehicle loan at any time, but it’s typically best to wait until you’ve owned your vehicle for at least 6 months to 1 year. This allows your vehicle’s value to stabilize and your credit score to improve, which can help you secure better refinancing terms.

Vehicle loans are generally not assumable or transferrable, meaning if someone wants to take over your vehicle loan, they usually can’t simply assume your existing loan’s terms and conditions. Instead, the new borrower would need to apply for a new loan, undergo a credit check, and possibly meet other lender requirements. It’s always best to consult directly with the lender to understand specific policies and options.

Yes, vehicle loans can generally be paid off early. There are no pre-payment penalties for paying off your Altana loan early. Paying off a loan early can be financially beneficial for reducing the total interest paid.

Getting pre-approved for a vehicle loan offers several benefits. You’ll know exactly how much you can afford and your interest rate, which helps narrow down your choices. The purchasing process goes much faster and smoother, and you’ll have the financial clarity needed to get a payment that is within your budget.

The decision to buy or lease depends on your specific needs and circumstances. If you value long-term savings, ownership, and flexibility, buying may be the better option. If you prioritize lower monthly payments, driving a new car every few years, and having maintenance covered, leasing may be more suitable. Consider your financial goals, driving habits, and personal preferences to make the best decision for you.

To purchase a vehicle you have been leasing, you typically have a few options for a smooth transition. Start by checking your lease agreement and request a lease payoff price, which is the amount you need to pay to own a vehicle outright. Then, arrange financing if you don’t have enough cash on hand to buy out the lease, by securing a loan to finance the payoff price. Ensure all outstanding lease payments, fees, and any other charges are settled before finalizing the purchase.