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Auto Loans

Check out the NEW 84-Month Used Auto Loan

Increase your cash flow by refinancing your current auto loan with an 84-month loan from Cedar Point. Experience a lower monthly payment, which can increase the flexibility of your budget and help you keep more cash in your pocket each month. Learn more about the benefits of an 84-month loan below. 


Today's Low Rates

In today’s ever-changing marketplace, Cedar Point consistently offers some of the lowest rates in Southern Maryland. Compare our rates to other local financial institutions.


New Auto & Truck1 loans as low as
2.65% APR* for 36 months


Monthly payment per $1000: $28.93


Pre-Owned Auto & Truck2 loans as low as
2.99% APR* for 36 months


Monthly payment per $1000: $29.08
On vehicles up to seven years of age.

¹CPFCU will finance based on credit and MSRP of vehicle.
²CPFCU will finance based on credit and NADA retail value. 
*APR = Annual Percentage Rate
Limitations Apply. Rates are accurate as of August 17, 2020.

Introducing the New 84-Month Used Auto Loan


Pre-Owned Auto & Truck2 loans as low as
4.99% APR* for 84 months


Monthly payment per $1000: $14.13
Vehicle must be 10 model years or newer at the end of the 84-month term.

*APR = Annual Percentage Rate

Benefits of an 84-Month Auto Loan

CashloanIcon  Looking to refinance? Refinancing a used car can free up cash flow!

When you refinance, you’re paying off your old loan with a new loan with new terms. Think of refinancing this way: you’ve already spent time paying off a portion of your auto loan, so the total amount of the new loan will be lower when you refinance. Second, if you have paid down your loan for several years, a lot of negative equity has already been paid off by your hard work. Extending the term could have less impact on increasing negative equity. Combine all of this with an 84-month term, and you may be on the road to big savings on your monthly payment. To take full advantage of a refinance, be sure to use a financial institution like Cedar Point Federal Credit Union, which consistently offers some of the lowest rates in the area.

CalendarIcon  Lower Monthly Payment

One of the most significant benefits of an 84-month loan term is a lower monthly payment. Since payments are spread out over seven years, the monthly payment would be significantly less than the monthly payment of a more traditional 60-month loan. Having to pay less each month can help free up cash flow and give you more flexibility in your monthly budget. However, remember that an 84-month loan is a longer commitment, meaning that you’ll be making those lower monthly payments for seven years. You’ll also be paying interest during that time, so finding a low interest rate is ideal.

CashflowIcon  Higher disposable income

When you have a lower monthly payment, you can put the savings towards something else. For instance, perhaps you have high-interest debt that you’d prefer to pay off first. Or maybe you could use a little extra money in your wallet for necessities. Whatever the reason, a lower monthly payment can give you more flexibility in your budget and increase your disposable income.

StrongIcon  Vehicles are built to last longer these days

Modern cars are built to be more reliable than ever. Some do not require a tune-up until 100,000 miles per their owner’s manual. Purchasing a more reliable vehicle means that it should last longer, have fewer maintenance expenses, and come with a strong manufacturer warranty. If you have a reliable vehicle, an extended loan term may be well worth it.

CreditIcon  Credit score may have improved

Your credit score changes over time, depending on your credit decisions. Having a good credit score offers certain advantages, such as access to better loan terms and lower interest rates. If your credit score has recently improved, you could receive a much better rate by refinancing to an 84-month loan. You’ve worked hard to achieve that credit score. Why not take advantage of its perks by refinancing your auto loan?

Apply For an Auto Loan or to Refinance

Anyplace, Anytime, On Any Device!

Did you know that we offer a quick, convenient way to apply for loans? You can apply for most any loan online or using your smartphone or tablet, any time of day or night, from anyplace you happen to be! No need to call a loan officer or drive to the credit union, unless you prefer one of those methods. You now have more options to apply for loans to fit with your lifestyle! Plus, you’ll receive a response within moments of applying.

Apply Now

Rates are accurate as of August 17, 2020.

Consider Refinancing

Did you know that Cedar Point can also help you refinance your auto loan at a lower rate? With our great rates, we can often help you save money every month. If you already have an auto loan with a different lender, consider refinancing with Cedar Point. We have friendly, helpful staff for those who prefer to come into a branch. For those who prefer to apply from home, we have a quick and easy online application process.

Limitations Apply.

What to Prepare

Be sure to bring identification when coming in to apply. If you’ve got a specific car in mind, bring along the VIN number, make, and model. For pre-owned vehicles,  bring the mileage number with you.

Auto Loan Rates

View our loan rates for new or pre-owned vehicles.

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Looking to insure your new vehicle?

Cedar Point can help with that, too.

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