Just come see us first.
Seeing us first puts you in the driver’s seat (literally). We live in the perfect playground – get out there and enjoy it! Whether it’s shiny and new or has a few stories to tell, whether it skims snow or dances on water, rules the road or cozies up at a campsite, if you can steer it, tow it, sail it, or zip around on it, we can finance it. And, if it makes your friends whistle and your elders nod approvingly, even sweeter! 😉
We’ll get you on the road so fast we should be ticketed!
need help?
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Get My Trade-In Value
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Skip-A-Pay
Skip-A-Pay
If you’re running short or need some extra cash, don’t stress over your loan payment!
Skip It
Refinance your ride.
Bring your loan to Altana from another lender to:
- Save money with low rates
- Lower your rate and your payment
- Shorten or extend your term
Auto Loan Calculators
How much car can I afford?
Computes the most expensive car you can buy based on the highest monthly payment you can afford. The calculated amount includes taxes and documentation fees.
How much will my loan payments be?
Use this calculator to compute the payment amount based on the principal, interest and term for a fixed rate loan.
Is an Auto Loan or Home Equity Loan best for purchasing a car?
This calculator helps determine if a home equity loan may be better than standard automobile financing for purchasing a car.
Auto Loan FAQs
What kinds of vehicles qualify for auto loans?
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!
Can I make payments online?
Yes! You can pay Altana loans and credit cards directly from our digital banking service.
Are vehicle loans secured or unsecured?
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.
Are vehicle loans fixed or variable?
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.
Are vehicle loans installment or revolving?
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.
Are vehicle loans simple interest?
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.
Can vehicles be refinanced?
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.
Are vehicle loans assumable or transferrable?
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.
Can vehicle loans be paid off early?
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.
What are the benefits of getting pre-approved for a vehicle loan?
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.
Is it better to buy or lease a vehicle?
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.
How do I purchase a vehicle I am leasing?
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.
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Disclosures
It is the policy of Altana Federal Credit Union to comply with all fair lending laws and regulations, including the Equal Credit Opportunity Act (ECOA), the Home Mortgage Disclosure Act (HMDA), the Fair Credit Reporting Act (FCRA), and the Fair Housing Act. In addition, the Credit Union adheres to federal regulatory agency fair lending guidance as set forth in the Interagency Policy Statement on Discrimination in Lending. Under the Equal Credit Opportunity Act (ECOA), it is illegal to discriminate in any credit transaction based on race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to contract), applicant’s receipt of public assistance income, and/or the applicant’s exercise of any right under the Consumer Credit Protection Act.
