Auto Loan Refinancing

Saving you money is our guarantee.

Shift your savings into gear by refinancing with Coastal

as low as 3.44% APR*

Here’s how Coastal’s Auto Loan Refinancing could help you bank better:

  • Our refinancing will either lower your monthly payment by $100; or give you 1% cash back on the amount financed with us*
  • Flexible payment terms available, up to 84 months**/***
  • No pre-payment penalty
  • Get up to 60days until your first payment is due
  • This loan is eligible for an annual Loyalty Bonus payout, which has totaled $11.7 million paid to members since we started the program

Want a better rate on your current loan?

No matter when you got your current auto loan, Coastal can save you money by refinancing, whether you're a member in North Carolina or somewhere beyond. If we can’t save you a big chunk of money during refinancing, we’ll give you cash back on the amount borrowed from us, up to $500. With guarantees like that, you can rest assured we’ll never steer you the wrong way.

Earn more cash back when you shop.

I was able to buy my first home on my own without using all of my savings.
Margaret H.

Frequently Asked Questions

There are two options to make principal only payments. (Excludes first mortgages and VISA Credit Cards)

You can pay an extra amount at the same time you make your regularly scheduled payment. The extra amount paid will automatically be applied to the principal balance. The regular payment and the extra amount must be applied on the same date with this option.

You can make principal only payments at other times as long as your loan is current. Please note, a principal only payment will not advance your due date, and will not take the place of normal monthly payments.

When mailing a check for principal only payments, clearly indicate in the memo section of the check, "PRINCIPAL ONLY" and the account number. Any payment applied as principal and interest, that is not notated "PRINCIPAL ONLY", cannot be reversed and reapplied later.

Please email with any questions.

Coastal only issues 1098 Mortgage Interest Statements for accounts that paid $600 or more in interest during the calendar year. The exact amount of interest paid on your mortgage loan is listed on your December statement.

All loans are subject to approval.

*APR = Annual Percentage Rate. Lowest rates and maximum terms based on Coastal Federal Credit Union’s Qualified Loan Program. Your rate may vary and is determined by your credit qualifications, amount financed, collateral, and loan terms. Other rates and terms available. All rates and terms are subject to change without notice. Existing Coastal Federal Credit Union and Freedom Federal Credit Union auto loans are not eligible. No additional discounts available. Interest accrues daily.

1. Maximum cash back cannot exceed 1.0% of the balance refinanced or $500, whichever is less.

2. Interest will continue to accrue.

Need help?

Send us a secured message: