2025 Southeast Financial Credit Union Auto Loan Review
Southeast Financial Credit Union auto loans at a glance
| Starting annual percentage rate (APR) | Loan terms | Loan amounts | ||
|---|---|---|---|---|
| New auto loans | 3.50% | 12 – 84 months | Up to $100,000 | |
| Used auto loans | 4.00% | 12 – 84 months | Up to $100,000 | |
| Refinance auto loans | 3.50% | 12 – 84 months | Up to $100,000 |
Credit unions tend to offer some of the lowest auto loan rates. With a minimum annual percentage rate (APR) of 3.50%, Southeast Financial Credit Union is no different. You may not have heard this smaller, Tennessee-based credit union, so here’s what you can expect.
- Have to become a credit union member (but it’s easy to join): You must join Southeast Financial Credit Union (SFCU) before you can get an auto loan. Luckily, all you need to do is open an account and make a $5 donation to Autism Tennessee to become a member. Certain residents and community members in Tennessee, Mississippi and Kentucky can also qualify on their location alone without donating.
- Low rates, especially for short terms: SFCU has some of the lowest rates around, but there’s a catch. You can only get its lowest rate if you go for 12-month financing.
- Can qualify with a lower credit score: As long as you have a credit score of at least 600, you could be eligible for an SFCU auto loan.
- No model year, odometer restrictions or dealership restrictions: This credit union accepts all model years, with no caps on mileage. It also offers private-party auto loans, and rates are the same as dealership loans.
- Can’t prequalify without impacting your credit: Many credit unions — like Southeast Financial — don’t let you see rates without taking a hard credit hit.
- Best if you plan on paying your car off quickly and are willing to join a credit union: Consider Southeast Financial Credit Union if you only need a year or two to pay off your loan. Its rates are generally competitive, but especially so on shorter loan terms. You’ll have become a credit union member, but it only takes a $5 minimum deposit, and in some cases, a $5 donation.
Southeast Financial Credit Union auto loan requirements
Before we get started, this review is for Southeast Financial Credit Union. If you’re looking for an RV loan from Southeast Financial (.com, and not a credit union), you’re in the wrong spot.
Southeast Financial Credit Union car loans aren’t the hardest to qualify for. You only need to have a 600+ credit score. Although membership is required, you can join and get a loan at the same time, all online.
Some credit unions have strict membership requirements, but not SFCU. To become a member, you must open an account with a minimum $5 deposit and:
- Work for a partner employer
- Be related to a current member
- Live, work, worship, go to school or volunteer in certain parts of Kentucky, Mississippi or Tennessee
- Make a one-time $5 donation to Autism Tennessee
Notably, SFCU does not care about how old your car is or how many miles it has. Southeast Financial Credit Union uses your credit score, income and current expenses to determine your eligibility, not the car you’re buying. You can also buy a car from a dealership or an individual.
Southeast Financial Credit Union pros and cons
Where you get your auto loan is a big deal. Unless you refinance, you’re stuck until you pay off your car loan. Review the pros and cons to see if Southeast Financial Credit Union is a good fit.
Pros
- Low rates
- Flexible about the types of cars it will finance
- Private-party loans offered with no added costs
- Graduate Auto Loan Program can help recent grads qualify
Cons
- Have to join the credit union to get a loan
- Can skip a payment, but it will cost you $60
- No way to check rates without taking a hard credit hit
- No rate discounts
Southeast Financial Credit Union car loans are simple. Vehicle age and odometer reading don’t matter, and you can buy from anywhere, not just a partner dealership. Rates are low, but to get the lowest (3.50%), you have to pay off your car in a year.
You won’t find any APR discounts with SFCU. But it does have a Skip-a-Payment program. Skipping a payment could get you out of a bind, but it comes with a steep $60 fee. You can pay it up front or have it added to your loan balance, where it will accrue interest.
Southeast Financial Credit Union company overview
Southeast Financial Credit Union got its start in 1936. At that time, it was known as the Tennessee Telco Credit Union. There are only 13 physical locations, mostly in Tennessee but also a few in Kentucky and Mississippi. You can handle all of your business online — including applying for and managing your auto loan.
Southeast Financial Credit Union auto loan types offered
SFCU offers all sorts of auto and powersports loans, including:
- New and used car loans
- Private-party auto loans
- Auto refinance loans
- Boat loans
- Jet ski loans
- RV loans
- Travel trailer loans
- Motorcycle loans
- Loans for tractors and lawnmowers
- Speciality vehicle refinancing (boats, RVs, etc.)
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How to get an auto loan with Southeast Financial Credit Union
You can apply for an auto loan online and if SFCU approves you, it will make you a member at the same time as it finalizes your loan. Here’s how to get started:
- Click “apply for a vehicle loan” on SFCU’s online application center.
- Choose the type of auto loan you need, and answer some questions about the car you’re looking to buy. You don’t need to know the exact make and model, but you need to know how much you want to borrow.
- Provide some information about yourself and your finances. SFCU also asks for a personal reference, so come prepared. Once you submit this information, you should get an approval decision shortly.
- You must join the credit union to accept your loan. SFCU will walk you through this. Here, you’ll open an account with a $5 minimum deposit. You may also need to donate $5 to Autism Tennessee if you don’t qualify through other means.
Is a Southeast Financial Credit Union auto loan right for you?
An SFCU auto loan could be right for you if you plan on paying your car off quickly and don’t mind joining a credit union. Rates are generally low, but they’re especially low on 12-month loan terms (3.50%).
Reading Southeast Financial Credit Union reviews like this is a good place to start. Still, the best way to find the right lender is by shopping around. Each lender has its own way of calculating rates. You’ll get different quotes from different places even though your information is the same.
How Southeast Financial Credit Union auto loans compare
Southeast Financial Credit Union is a solid choice if you qualify for its lowest rates. Not many will, since you have to pay your car off in a year to qualify. Here are a few other options to consider.
Please note that the rates below apply to new purchase car loans, not loans used cars or refinancing.
How Does LendingTree Get Paid? LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.| Southeast Financial Credit Union | PenFed Credit Union | Capital One | |
|---|---|---|---|
| Starting APR | 3.50% | 4.59% | 5.89% |
| Loan terms | 12 – 84 months | 36 – 84 months | 24 – 84 months |
| Loan amounts | Up to $100,000 | Up to $150,000 | Starting at $4,000 |
| Minimum credit score | 600 | Not specified | 500 |
PenFed has open membership. Its starting rate isn’t quite as low as SFCU’s but it offers perks that SFCU doesn’t, such as a rate discount for using its car-buying service. You might need good credit to qualify, but you can check eligibility without impacting your credit.
Capital One should be on your radar if you need a bad credit car loan. It has a minimum credit score of just 500. Rates are a little higher than both SFCU and PenFed which isn’t surprising since the other two are credit unions.
Frequently asked questions
Southeast Financial Credit Union requires a credit score of at least 600 to get an auto loan. This is not to be confused with Southeast Financial (.com), which is a powersports loan lender, not a credit union. Southeast Financial (.com) has a minimum credit score of 575.
Credit unions are nonprofit and member-owned. As a result, they can have more lenient loan requirements. Credit unions tend to share a common goal, and that’s to improve the financial situation of its members.
That said, every credit union has its own borrower requirements. Some only lend to good credit while others accept good and bad.
Also, keep in mind that some credit unions have strict membership requirements. SFCU does not. You can join with a $5 donation to Autism Tennessee.
Credit unions have their downsides, just like any financial institution. The biggest is that you have to join, and not all credit unions have open membership.
Many credit unions require that you work for a certain employer, live in a certain area or have a military tie. Others, like PenFed, take anyone. SFCU does have some membership requirements but you can bypass them by donating $5 to Autism Tennessee.
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- Southeast Financial Credit Union auto loans at a glance
- Southeast Financial Credit Union auto loan requirements
- Southeast Financial Credit Union pros and cons
- Southeast Financial Credit Union company overview
- Southeast Financial Credit Union auto loan types offered
- How to get an auto loan with Southeast Financial Credit Union
- Is a Southeast Financial Credit Union auto loan right for you?
- How Southeast Financial Credit Union auto loans compare
- Frequently asked questions