Recently we were notified of a few exceptional offers in Washington state from both regional and national credit unions. If you happen to live in Washington state and are in the market for a new or used car loan, you may want to check out the following institutions. Keep in mind though, the offers are all from credit unions which will likely require you to become a member before obtaining the loan. Typically this will require you to fit within the group of people they serve (either geographically or through your employment) and/or that you have additional bank account(s) with the institution.

Top 3 Auto Loan Rates in Washington State:

(Rates accurate as of December 2011. Visit the credit union’s website for additional terms, conditions and membership requirements.)

1) Navy Federal Credit Union (Silverdale, WA) has a 36 month new car loan featuring an APR of 1.79% depending on credit standing. NFCU has been regularly featured on BankVibe.com for their outstanding car loan rates over the course of 2011. Visit NavyFederal.org for further information.

2) NW Priority Credit Union (Vancouver, WA) has a 36 month new car loan featuring an APR of 1.99% depending on credit standing. NW Priority Credit Union is a regional credit union serving the greater northwest. Visit NWPrioritycu.org for further information.

3) QualStar Credit Union (Tacoma, WA) is featuring a 36 month new car loan with an APR of 1.99% depending on credit standing as well. QualStar Credit Union has 3 locations in the greater Seattle area – Tacoma, Seattle and Everett. Visit QualStarcu.com for further information.

If you live in WA and have obtained a better auto loan rate through your local bank or credit union, let us know by leaving a comment!

Why obtain financing from a bank or credit union before purchasing a new car? The primary advantage of having an auto loan established before entering a dealership is that you will have to be treated as a cash buyer. This gives buyers significant leverage in the negotiation process.

Best Auto Loan Rates in Indiana – Top 5:

(Rates accurate as of July 2011. Visit the individual institutions’ website for update rates, terms and conditions.)

- Indiana Members Credit Union (Noblesville, IN) has a 36 month auto loan featuring an interest rate of 1.99%.

- Fort Financial Federal Credit Union (Syracuse, IN) has a 36 month auto loan featuring an interest rate of 2.49%.

- Indiana University Credit Union (SouthBend, IN) has a 36 month auto loan featuring an interest rate of 2.50%.

- State Farm Federal Credit Union (West Lafayette, IN) has a 36 month auto loan featuring an interest rate of 2.50%.

- Bank of America (South Bend, IN) has a 36 month auto loan featuring an interest rate of 2.74%.

If you live in Indiana and have obtained a better interest rate on a new or used car loan, please share by leaving a comment!

The five institutions with locations or headquarters in Virginia that we mention in this post may also have a presence outside of the state, so even if you don’t live in Virginia you may be eligible for some of these products.

Why use a bank or credit union to finance your new car or truck?

By coming to a dealership with financing in place (through your banking institution) you will essentially be treated as a cash buyer. This could provide you with greater leverage in the negotiation process.

Lowest Auto Loan Rates in Virginia (TOP 5):

*Rates accurate as of 10/2010. Visit the bank or CU’s homepage for updated info and rates.

1) Navy Federal Credit Union (Virginia Beach, VA) has a 36 month new auto loan featuring an APR of 1.99%.

2) Partners Financial Federal Credit Union (Richmond, VA)  has a 36 month new auto loan featuring an APR of 2.75%.

3) Apple Federal Credit Union (Woodbridge, VA) has a 36 month new auto loan featuring an APR of 2.99%.

4) Bank of America (Wytheville, VA) has a 36 month new auto loan featuring an APR of 2.99%.

5) United States Senate Federal Credit Union (Alexandria, VA) has a 36 month new auto loan featuring an APR of 2.99%.

*Rates based on $25,000 financed. Similar rates may be offered for used cars and trucks as well as on longer terms than 36 months.

If you live in Virginia and know of a better auto loan rate going on through your local banking institution, please share by leaving a comment.

Why obtain auto financing through a bank rather than a dealership?

Essentially by entering a dealership with financing already in place you will be considered a cash buyer. This may bring you greater leverage in the negotiation process.

Lowest Auto Loan Rates in Georgia (Top 5):

(Auto loan rates accurate as of 10/2010. Rates assume $25,000 financed)

1) Navy Federal Credit Union (Stockbridge, GA) has a 36 month new car loan going for 1.99% APR.

2) Bank of America (Winder, GA) has a 36 month new car loan going for 2.99% APR.

3) LGE Community Credit Union (Marietta, GA) has a 36 month new car loan going for 3.25% APR.

4) Robins Federal Credit Union (Warner Robins, GA) has a 36 month new car loan going for 3.25% APR.

5) Associated Credit Union (Norcross, GA) has a 36 month new car loan going for 3.50% APR.

If you live in Georgia and know of a better auto loan offered through your local bank or credit union, please share by leaving a comment!

Why obtain an auto loan through a bank or credit union?

By entering a dealership with financing in place the employees will have to treat you as a cash buyer. This could greatly sway leverage in your favor during the negotiation process.

Lowest Auto Loan Rates in Kansas (Top 5):

(Rates accurate as of 10/2010 and based on $25,000 financed. Auto loan rates assume 36 month terms on new cars and trucks. Varying terms are available but may come with slightly different rates.)

1) Great Plains Federal Credit Union, based out of Salina, KS, has a 36 month auto loan going for 2.65% APR.

2) Bank of America (Wichita, KS) has a 36 month auto loan going for 2.99% APR.

3) Catholic Family Federal Credit Union based out of Wichita, KS, has a 36 month auto loan going for 3.49% APR.

4) Central Kansas Credit Union based out of Hutchinson, KS has a 36 month auto loan going for 3.49% APR.

5) State Farm Bank, FSB has a 36 month auto loan going for 3.49% APR.

If you live in Kansas and know of a better auto loan rate(s) being offered through your local bank or credit union, please share by leaving a comment!

Why finance your car or truck through a banking institution? There are a few benefits to obtaining financing before entering the dealership, but perhaps the greatest is that you will be treated as a cash buyer. This can provide you with substantial leverage in the negotiation process.

Lowest Auto Loan Rates in Connecticut:

(Auto loan rates accurate as of 10/2010. Visit the bank or credit union’s website for updated information and rates.)

- Navy Federal Credit Union’s auto loan rates still remain the best on the market for certain geographical areas. They have a 36 month new auto loan with an APR of 1.99% for qualified borrowers. This deal came out originally as a auto loan promotion but has remained available for quite some time now. (You can find a NFCU branch in New London, Connecticut.)

- Bank of America’s Auto Loan Rates have also remained fantastically low. They still have their 2.99% APR 36 month auto loan available to qualified borrowers. B of A has several locations throughout Connecticut.

- Mutual Security Credit Union (out of Norwalk, Connecticut) has a 36 month auto loan going for 3.80% APR for qualified borrowers.

If you live in Connecticut and know of a better auto loan rate offered through your local bank or credit union, please share by leaving a comment!

Arizona’s Lowest Auto Loan Rates:

(Rates accurate as of 9/2010. Visit the bank or credit union’s website for current rate info.)

- Bank of America National Association (Yuma, AZ) offering auto loans for new vehicles on 36 month terms with APRs as low as 2.99% depending on credit worthiness. Further reading from BankVibe.com: Bank of America Auto Loan Rates & Review.

- Western Federal Credit Union (Mesa, AZ) also offering auto loans for new vehicles on 36 month terms with APR’s as low as 2.99% depending on credit worthiness.

- First American Credit Union (Window Rock, AZ) offering auto loans for new vehicles on 60 month terms with APR’s as low as 3.49% depending on credit worthiness.

- Arizona State Credit Union (Tuscon, AZ) offering auto loans for new vehicles on 60 month terms with APR’s as low as 3.99% depending on credit worthiness.

We have just highlighted the “new car loan rates” offered by these institutions. Many institutions will offer similar APR’s for used auto loans as well, however, you will need to contact the bank or credit union directly or visit their rate pages for these APR’s.

If you live in Arizona and know of a better auto loan rate offered through your local banking institution, please share by leaving a comment.

Why obtain financing from a bank or credit union before heading to the dealership?

1) You will be treated as a cash buyer which increases your leverage in the negotiation process.

2) Dealers often have the option to change your interest rate. This is frequently referred to as a “dealer reserve” and it can be easily hidden in the fine print. With a bank or credit union funded auto loan purchase you will know your exact APR and it will be a fixed rate for the duration of your loan (generally speaking, auto loans come in the form of 36 month, 48 month, 60 month or 72 month terms).

Lowest Auto Loan Rates in Maryland – Top 3:

(Rates accurate as of 9/2010. Visit the individual institutions’ webpages for updated rate info).

- Navy Federal Credit Union out of Suitland, Maryland has a 36 month auto loan going for an industry best 1.99% APR for approved borrowers.

- Bank of America (National Institution) out of Wheaton, Maryland, has a 36 month auto loan going for 2.99% APR for approved borrowers.

- Market USA Federal Credit Union out of Laurel, Maryland, also has a 36 month auto loan going for 2.99% APR for approved borrowers.

Keep in mind the above rates are based on $25,000 financed for NEW VEHICLES. Contact the institution for individual auto loan needs.

Do you live in Maryland and know of a better auto loan rate offered through your local banking institution? If so, please share by leaving a comment.

Why finance your car or truck loan through a bank/credit union? Greater flexibility and leverage . Before you walk into the dealership always consider bringing your own auto financing package. This gives you an upper hand in the negotiation process as you will be the equivalent of a cash buyer. See more information regarding this subject below.

Arkansas Auto Loan Rates – This week’s lowest offers:

(Rates accurate as of 9/2010. For updated rates and offers scroll through our auto loans archive.)

- Western Federal Credit Union (Rogers, AR) is offering auto loan rates for as low as 2.99% APR on terms of 36 months.

- Bank of America (Springdale, AR) is offering auto loan rates for as low as 3.25% APR on terms of 36 months. Get more auto loan rates from Bank of America.

- Baxter Credit Union (Mountain Home, AR) is offering auto loan rates for as low as 3.790% APR on terms of 36 months.

Before Purchasing your car or truck through dealer financing remember:

- Loans from a dealer are retail sales contracts. The contracts are a service the dealer signs with you, but then sells to a bank or other financial institution.

- Because dealers get a cut of the interest rate, the higher the annual percentage rate (APR) the more they rake in. There’s a built in incentive to bump up the rate.

- Of course, if you can get zero-financing or reduced-rate financing subsidized with a low APR from the manufacturer, you’ll probably get a good deal. Aggressively low interest incentives are common, but often earmarked to specific models.

If you live in Arkansas and know of lower auto loan rates through your local banking institution, please share by leaving a comment!

NFCU has branches throughout the southeast as well as a few locations in the mid and southwest. NFCU is a somewhat exclusive credit union though and if you dont have family members whom have served in the Navy you may be excluded for membership. If you reside in Miami, Florida and are unable to join NFCU to take advantage of their auto loan offer, below are some other noteworthy auto loan rates available to you…

Lowest Auto Loan Rates in Miami, FL:

1) NFCU – 1.99% APR (depending on credit history) on new and used autos with terms up to 36 months.

2) Bank of America (National Association) – 3.06% APR (depending on credit history) on new and used autos with terms up to 36 months.

3) First Florida Credit Union (Miami, FL) – 3.24% APR (depending on credit history) on new and used autos with terms up to 36 months.

Like all bank rates, these are time sensitive in nature, please refer to the date of this article for accuracy. If you live in the Miami, FL area and know of a better auto loan rate offered through your local bank or credit union, please share by leaving a comment!