Personal Banking
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Vehicle Loans
Drive More and Pay Less with Island
Start Saving with Rates Starting at just 5.14% APR*
Vehicle Loan Rates
Loans Tailored to Put You in the Driver’s Seat
Visit Island Federal Before Heading to the Dealership
Financing your auto loan with Island Federal means partnering with a not-for-profit lender that puts your needs first. Enjoy lower rates, more flexible terms, and the freedom to pay off your loan early without any pre-payment penalties. Plus, with our no-cost, no-commitment preapprovals, you can shop with confidence and compare offers to find the deal that’s right for you.
New, Used, or Lease Buyout; Same Great Rates
Whether you're looking at a new car, used car, or buying out your current lease, Island Federal can help you save. We proudly offer the same low rates on new cars and most used cars so you can drive more, and pay less.
Preapprovals Put You in the Driver Seat
Getting a no-cost, no-commitment preapproval from Island Federal gives you the power to shop smart. Know your rate, set your budget, and walk into the dealership with confidence.
Customize Your Loan For What Works Best For You
With loan terms ranging from 12 to 96 months, you can tailor your payments to match your lifestyle. And since there are no early payoff fees, you're free to pay down your loan whenever it works best for you.
New, Used, Lease, or Refinance. Save on your ride with Island
Whether you’re buying a new car, a reliable used vehicle, refinancing your current auto loan, or buying out your lease, Island Federal Credit Union makes it easy to drive more and spend less. As one of Long Island’s most trusted credit unions, we offer competitive auto loan rates and fast approvals to help you get on the road quickly. We’re proud to offer the same low rate on new car loans, used car loans, auto loan refinancing, and lease buyouts, so no matter where you are in the car buying journey, you’re getting a deal that works for you. Already have a loan with another lender? Refinance with Island Federal and you could lower your monthly payments or shorten your loan term. Our local branches across Suffolk and Nassau Counties make it easy to speak with a loan specialist in person, or you can apply for an auto loan online anytime from your phone or computer.
Additional Services Available
Hear From Our Proud Members
“I came into IFCU after a horrible experience at the dealership regarding buying out my lease. I met with a representative who was extremely knowledgeable and was able to get me a much better rate on my auto loan along with a much better extended warranty than the dealership offered! He provided me with options that in end saved me money on my buyout! I could not be happier with the entire experience working with Island.”
Cherie D.
Hicksville
“When we needed to cover unexpected medical expenses, Island Federal came through with a HELOC that fit our situation perfectly. The fixed introductory rate gave us peace of mind, and we appreciated the local, personal service. You don’t get that everywhere — but you do at Island.”
Laura B.
New York
Motorcycles
We understand sometimes 2 wheels are better than 4! If you’re in the market for a new motorcycle, find out how you can save when financing through Island Federal.
Boats
Did you know Long Island is surrounded by 1,600 miles of coastline? What better way to enjoy living here than spending time out on the water. Island Federal specializes in boat loans and our team can help you pay less and spend more time out on the water!
RV's
Whether you’re spending the weekend out at Montauk or taking a cross country road trip, an RV allows you to travel in style and enjoy the great outdoors without sacrificing all of the amenities of home. Let Island help you finance your recreational vehicle with our RV loans.
Frequently Asked Questions
Can I have a co-borrower on my loan?
Yes! You can add a co-borrower to your loan application either online or at any Island Federal branch. A co-borrower may help you qualify for a lower rate or a higher loan amount, depending on their credit and income.
If I apply, am I required to take the loan?
Not at all. If your application is approved, you’ll receive a financing offer that includes your rate and loan amount. You’re free to accept or decline, with no cost and no obligation.
How long does it take to get a decision?
Most applicants receive a response within 24 hours. If we need any additional information or documents, a Loan Processor will reach out, so be sure to check your email and voicemail for updates.
How can I check the status of my loan application?
After you apply, you’ll receive a Loan ID number. You can check your status anytime by calling, emailing, or using the live chat feature on our website.
My lease is ending. What are my options?
As your lease nears its end, you can return the vehicle or choose to keep it with a Lease Buyout Loan from Island Federal. Obtain a copy of your lease agreement and speak with one of our Vehicle Loan Specialists to explore your monthly payment options.
Do you offer a program for first-time car buyers?
Yes, we have a special First Time Car Buyer program for drivers with limited or no credit history. Click here to see our First Time Car Buyer Rates
Do I have to be a Member of Island Federal to get an auto loan?
Yes, Membership is required to obtain a loan. However, we make it easy. Your Membership will be automatically opened during the loan process at no additional cost to you.
Disclosures
*APR=Annual Percentage Rate. Rates and terms accurate as of 01/25/2026 and subject to change without notice. All offers of credit are subject to credit approval; applicants may be offered credit at higher rates and other terms. New vehicles defined as vehicles that have never been titled and do not exceed two model years in age. **2019 vehicles or newer for 72-month term. Motorcycle financing only available on new motorcycles defined as never having been titled and not exceed two model years in age. Maximum loan amount for motorcycles = $25,000. The maximum loan amount for used vehicles and vessels cannot exceed 100% of the NADA retail value or the price listed on the conditional bill of sale, whichever is lower. A Marine Mortgage and/or marine survey may be required for some boat loans based on vessel size and/or purchase price. Other rates and terms available. Membership eligibility applies.